KBC Group NV Decreases Position in Globe Life Inc. (NYSE:GL)

KBC Group NV lowered its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 95.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,156 shares of the company's stock after selling 486,343 shares during the quarter. KBC Group NV's holdings in Globe Life were worth $2,346,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Globe Life by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company's stock valued at $1,309,755,000 after purchasing an additional 425,993 shares in the last quarter. Boston Partners boosted its position in Globe Life by 6.4% during the first quarter. Boston Partners now owns 2,092,526 shares of the company's stock valued at $243,200,000 after buying an additional 125,457 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Globe Life by 104.3% in the second quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company's stock worth $132,577,000 after buying an additional 822,638 shares during the period. Millennium Management LLC lifted its stake in shares of Globe Life by 177.0% in the 2nd quarter. Millennium Management LLC now owns 1,279,818 shares of the company's stock valued at $105,303,000 after acquiring an additional 817,760 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its stake in shares of Globe Life by 398.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company's stock valued at $88,420,000 after acquiring an additional 859,146 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

Globe Life Stock Down 0.3 %

Shares of NYSE:GL traded down $0.37 during trading on Tuesday, hitting $109.38. The stock had a trading volume of 424,313 shares, compared to its average volume of 1,519,401. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. The company has a market capitalization of $9.18 billion, a PE ratio of 9.25 and a beta of 0.81. The firm's fifty day moving average is $107.24 and its 200 day moving average is $95.25.

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

Globe Life Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 8th will be given a $0.24 dividend. The ex-dividend date is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.88%. Globe Life's dividend payout ratio is currently 8.12%.

Wall Street Analyst Weigh In

A number of brokerages have commented on GL. Keefe, Bruyette & Woods lifted their price target on Globe Life from $120.00 to $125.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 29th. Truist Financial increased their price target on shares of Globe Life from $90.00 to $105.00 and gave the company a "hold" rating in a research report on Friday, October 25th. Raymond James raised their price target on shares of Globe Life from $160.00 to $188.00 and gave the stock a "strong-buy" rating in a report on Tuesday, October 15th. TD Cowen assumed coverage on shares of Globe Life in a research note on Wednesday, October 9th. They set a "buy" rating and a $150.00 price objective for the company. Finally, Morgan Stanley raised their target price on Globe Life from $110.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 24th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Globe Life currently has an average rating of "Moderate Buy" and a consensus price target of $124.50.

Globe Life Profile

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.