Cwm LLC Acquires 10,717 Shares of Globe Life Inc. (NYSE:GL)

CWM LLC raised its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 149.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,901 shares of the company's stock after buying an additional 10,717 shares during the period. CWM LLC's holdings in Globe Life were worth $1,896,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Keener Financial Planning LLC bought a new position in Globe Life in the first quarter valued at approximately $49,000. Benjamin F. Edwards & Company Inc. raised its holdings in Globe Life by 88.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company's stock worth $50,000 after purchasing an additional 281 shares during the period. LRI Investments LLC raised its holdings in Globe Life by 898.4% in the second quarter. LRI Investments LLC now owns 619 shares of the company's stock worth $51,000 after purchasing an additional 557 shares during the period. Family Firm Inc. acquired a new stake in Globe Life in the second quarter worth $54,000. Finally, Blue Trust Inc. raised its holdings in Globe Life by 249.5% in the second quarter. Blue Trust Inc. now owns 776 shares of the company's stock worth $64,000 after purchasing an additional 554 shares during the period. 81.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GL has been the topic of a number of research analyst reports. Truist Financial raised their price objective on shares of Globe Life from $80.00 to $90.00 and gave the stock a "hold" rating in a report on Friday, July 26th. TD Cowen initiated coverage on shares of Globe Life in a report on Wednesday, October 9th. They set a "buy" rating and a $150.00 price objective on the stock. Evercore ISI raised their price objective on shares of Globe Life from $83.00 to $86.00 and gave the stock an "in-line" rating in a report on Wednesday, June 26th. Piper Sandler lifted their price target on shares of Globe Life from $106.00 to $118.00 and gave the company an "overweight" rating in a research note on Wednesday, October 2nd. Finally, Raymond James lifted their price target on shares of Globe Life from $160.00 to $188.00 and gave the company a "strong-buy" rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Globe Life has an average rating of "Moderate Buy" and a consensus target price of $117.40.

Globe Life Stock Performance

Shares of GL traded up $2.02 during midday trading on Tuesday, reaching $110.80. The stock had a trading volume of 623,088 shares, compared to its average volume of 1,632,718. The firm has a 50 day simple moving average of $102.72 and a 200-day simple moving average of $90.66. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The firm has a market cap of $9.98 billion, a PE ratio of 10.58 and a beta of 0.81. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.31.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, beating analysts' consensus estimates of $2.90 by $0.07. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the firm posted $2.61 EPS. The company's quarterly revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Globe Life Inc. will post 11.93 EPS for the current year.

Globe Life Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Friday, October 4th. Globe Life's dividend payout ratio (DPR) is presently 9.17%.

Insider Buying and Selling

In related news, Director Mary E. Thigpen bought 3,000 shares of Globe Life stock in a transaction that occurred on Friday, July 26th. The stock was acquired at an average price of $90.20 per share, with a total value of $270,600.00. Following the acquisition, the director now owns 15,605 shares of the company's stock, valued at approximately $1,407,571. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.51% of the stock is currently owned by insiders.

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.