Handelsbanken Fonder AB Has $2.28 Million Position in Globe Life Inc. (NYSE:GL)

Handelsbanken Fonder AB boosted its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 51.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,500 shares of the company's stock after purchasing an additional 7,300 shares during the period. Handelsbanken Fonder AB's holdings in Globe Life were worth $2,277,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Keener Financial Planning LLC bought a new stake in shares of Globe Life during the 1st quarter worth $49,000. Benjamin F. Edwards & Company Inc. increased its stake in 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 buying an additional 281 shares during the last quarter. LRI Investments LLC bought a new position in Globe Life during the first quarter valued at $72,000. Family Firm Inc. purchased a new position in Globe Life during the 2nd quarter valued at about $54,000. Finally, Central Pacific Bank Trust Division purchased a new stake in Globe Life in the first quarter valued at approximately $82,000. Institutional investors and hedge funds own 81.61% of the company's stock.

Insider Activity at Globe Life

In related news, Director Mary E. Thigpen purchased 3,000 shares of the firm's stock in a transaction on Friday, July 26th. The stock was purchased at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the acquisition, the director now directly owns 15,605 shares in the company, valued at $1,407,571. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.51% of the company's stock.

Globe Life Stock Down 0.7 %

GL stock traded down $0.77 during midday trading on Thursday, hitting $106.43. The company's stock had a trading volume of 366,768 shares, compared to its average volume of 1,649,740. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.31. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. The firm has a market capitalization of $9.58 billion, a P/E ratio of 10.17 and a beta of 0.81. The firm has a 50-day simple moving average of $101.54 and a 200-day simple moving average of $91.17.

Globe Life (NYSE:GL - Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.90 by $0.07. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the previous year, the company posted $2.61 earnings per share. The firm's revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts forecast that Globe Life Inc. will post 11.93 EPS for the current year.

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.90%. Globe Life's dividend payout ratio (DPR) is presently 9.17%.

Analyst Ratings Changes

GL has been the subject of several analyst reports. TD Cowen initiated coverage on shares of Globe Life in a research report on Wednesday. They set a "buy" rating and a $150.00 price target for the company. Jefferies Financial Group upped their price objective on Globe Life from $85.00 to $88.00 and gave the stock a "hold" rating in a research note on Friday, June 28th. Piper Sandler boosted their price objective on Globe Life from $106.00 to $118.00 and gave the company an "overweight" rating in a research report on Wednesday, October 2nd. Truist Financial lifted their price objective on Globe Life from $80.00 to $90.00 and gave the stock a "hold" rating in a research note on Friday, July 26th. Finally, Evercore ISI lifted their price target on shares of Globe Life from $83.00 to $86.00 and gave the stock an "in-line" rating in a research note on Wednesday, June 26th. Five 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 company's stock. According to data from MarketBeat.com, Globe Life has a consensus rating of "Moderate Buy" and a consensus target price of $114.60.

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.