Globe Life Inc. (NYSE:GL) Shares Bought by Nuance Investments LLC

Nuance Investments LLC increased its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 155.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,138,978 shares of the company's stock after buying an additional 693,346 shares during the period. Globe Life comprises approximately 4.1% of Nuance Investments LLC's holdings, making the stock its 8th biggest holding. Nuance Investments LLC owned about 1.27% of Globe Life worth $120,629,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. D. E. Shaw & Co. Inc. grew its position in Globe Life by 398.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company's stock worth $88,420,000 after buying an additional 859,146 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Globe Life by 104.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company's stock valued at $132,577,000 after acquiring an additional 822,638 shares in the last quarter. Millennium Management LLC increased its position in shares of Globe Life by 177.0% during the 2nd quarter. Millennium Management LLC now owns 1,279,818 shares of the company's stock worth $105,303,000 after purchasing an additional 817,760 shares in the last quarter. Pzena Investment Management LLC raised its holdings in shares of Globe Life by 146.3% in the second quarter. Pzena Investment Management LLC now owns 930,378 shares of the company's stock valued at $76,552,000 after buying an additional 552,634 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Globe Life by 3.9% in the first quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company's stock valued at $1,309,755,000 after acquiring an additional 425,993 shares during the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Globe Life Price Performance

Shares of NYSE:GL traded down $0.56 during mid-day trading on Wednesday, reaching $108.76. The stock had a trading volume of 339,629 shares, compared to its average volume of 1,514,160. The business's 50 day moving average price is $107.24 and its 200 day moving average price is $95.25. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The company has a market cap of $9.13 billion, a P/E ratio of 9.20 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.

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

Globe Life Dividend Announcement

The company 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 dividend of $0.24 per share. The ex-dividend date is Monday, January 6th. This represents a $0.96 annualized dividend and a dividend yield of 0.88%. Globe Life's payout ratio is 8.12%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GL shares. Raymond James boosted their price objective on shares of Globe Life from $160.00 to $188.00 and gave the company a "strong-buy" rating in a research report on Tuesday, October 15th. Wells Fargo & Company raised their price objective on Globe Life from $108.00 to $117.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Truist Financial increased their price target on Globe Life from $90.00 to $105.00 and gave the company a "hold" rating in a research note on Friday, October 25th. Morgan Stanley upped their target price on Globe Life from $110.00 to $120.00 and gave the company an "equal weight" rating in a research report on Thursday, October 24th. Finally, Piper Sandler increased their price objective on shares of Globe Life from $118.00 to $130.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Five research 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $124.50.

Globe Life Company 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.