Intech Investment Management LLC Sells 17,523 Shares of Globe Life Inc. (NYSE:GL)

Intech Investment Management LLC decreased its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 35.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 31,285 shares of the company's stock after selling 17,523 shares during the period. Intech Investment Management LLC's holdings in Globe Life were worth $3,313,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Riverview Trust Co purchased a new stake in shares of Globe Life in the 3rd quarter valued at about $32,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Globe Life by 88.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company's stock valued at $50,000 after acquiring an additional 281 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of Globe Life in the 1st quarter valued at about $72,000. Family Firm Inc. purchased a new stake in shares of Globe Life in the 2nd quarter valued at about $54,000. Finally, Intact Investment Management Inc. purchased a new stake in shares of Globe Life in the 3rd quarter valued at about $73,000. Hedge funds and other institutional investors own 81.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GL. Morgan Stanley raised their price target on Globe Life from $110.00 to $120.00 and gave the company an "equal weight" rating in a report on Thursday, October 24th. TD Cowen started coverage on Globe Life in a research report on Wednesday, October 9th. They set a "buy" rating and a $150.00 price objective on the stock. Keefe, Bruyette & Woods increased their price objective on Globe Life from $120.00 to $125.00 and gave the company an "outperform" rating in a research report on Tuesday, October 29th. Raymond James increased their price objective on Globe Life from $160.00 to $188.00 and gave the company a "strong-buy" rating in a research report on Tuesday, October 15th. Finally, Piper Sandler raised their price target on Globe Life from $118.00 to $130.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Globe Life has an average rating of "Moderate Buy" and a consensus price target of $124.50.

Globe Life Stock Up 1.4 %

NYSE:GL traded up $1.49 during trading hours on Friday, reaching $110.48. 582,189 shares of the company traded hands, compared to its average volume of 586,841. The business's 50-day moving average price is $107.65 and its two-hundred day moving average price is $95.76. The stock has a market capitalization of $9.27 billion, a P/E ratio of 9.35 and a beta of 0.81. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.06 by $0.43. The business had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.71 earnings per share. Analysts predict that Globe Life Inc. will post 12.31 earnings per share for the current year.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 8th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life's payout ratio is 8.12%.

About Globe Life

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States. The company operates in four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.