National Bank of Canada FI Boosts Stock Position in Globe Life Inc. (NYSE:GL)

National Bank of Canada FI raised its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 27.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,219 shares of the company's stock after acquiring an additional 6,210 shares during the quarter. National Bank of Canada FI's holdings in Globe Life were worth $3,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Savant Capital LLC increased its holdings in shares of Globe Life by 951.5% in the second quarter. Savant Capital LLC now owns 75,214 shares of the company's stock worth $6,189,000 after buying an additional 68,061 shares during the period. Achmea Investment Management B.V. increased its holdings in shares of Globe Life by 151.4% in the 2nd quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company's stock worth $2,443,000 after purchasing an additional 17,878 shares in the last quarter. WINTON GROUP Ltd bought a new position in shares of Globe Life during the 2nd quarter valued at $15,483,000. State Street Corp grew its position in Globe Life by 3.4% during the third quarter. State Street Corp now owns 3,545,272 shares of the company's stock valued at $375,480,000 after buying an additional 115,432 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Globe Life by 85.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company's stock valued at $2,095,000 after purchasing an additional 9,141 shares during the period. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GL. Piper Sandler boosted their price target on Globe Life from $118.00 to $130.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Truist Financial upped their target price on shares of Globe Life from $90.00 to $105.00 and gave the stock a "hold" rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods boosted their price target on shares of Globe Life from $120.00 to $125.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 29th. TD Cowen initiated coverage on Globe Life in a research report on Wednesday, October 9th. They set a "buy" rating and a $150.00 price objective for the company. Finally, 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. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Globe Life presently has a consensus rating of "Moderate Buy" and an average price target of $127.10.

Insiders Place Their Bets

In related news, CEO Frank M. Svoboda sold 14,340 shares of the company's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total value of $1,560,192.00. Following the completion of the sale, the chief executive officer now owns 16,396 shares in the company, valued at $1,783,884.80. This represents a 46.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.51% of the stock is currently owned by company insiders.

Globe Life Trading Up 0.9 %

Globe Life stock traded up $0.91 during trading on Friday, reaching $105.42. 697,102 shares of the company were exchanged, compared to its average volume of 1,461,002. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The stock's 50 day simple moving average is $108.06 and its two-hundred day simple moving average is $98.00. The company has a market capitalization of $8.85 billion, a P/E ratio of 8.92 and a beta of 0.81.

Globe Life (NYSE:GL - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm posted $2.71 earnings per share. Globe Life's revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts expect that Globe Life Inc. will post 12.31 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.91%. Globe Life's dividend payout ratio is currently 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.