Net Worth Advisory Group Makes New Investment in Globe Life Inc. (NYSE:GL)

Net Worth Advisory Group acquired a new position in shares of Globe Life Inc. (NYSE:GL - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,363 shares of the company's stock, valued at approximately $674,000.

Other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. grew its holdings in shares of Globe Life by 7.7% during the third quarter. UMB Bank n.a. now owns 1,357 shares of the company's stock valued at $144,000 after buying an additional 97 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in Globe Life by 0.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company's stock valued at $4,082,000 after acquiring an additional 167 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Globe Life by 7.6% in the 1st quarter. Perigon Wealth Management LLC now owns 2,619 shares of the company's stock valued at $305,000 after purchasing an additional 184 shares during the period. Bruce G. Allen Investments LLC lifted its position in shares of Globe Life by 33.2% in the second quarter. Bruce G. Allen Investments LLC now owns 806 shares of the company's stock worth $66,000 after purchasing an additional 201 shares in the last quarter. Finally, Quarry LP lifted its position in shares of Globe Life by 47.5% in the second quarter. Quarry LP now owns 838 shares of the company's stock worth $69,000 after purchasing an additional 270 shares in the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Globe Life

In related news, Director Mary E. Thigpen bought 3,000 shares of the company's stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average price of $90.20 per share, with a total value of $270,600.00. Following the completion of the transaction, the director now owns 15,605 shares of the company's stock, valued at $1,407,571. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.51% of the company's stock.

Globe Life Stock Performance

GL stock traded up $0.67 during midday trading on Friday, hitting $109.72. 510,029 shares of the company traded hands, compared to its average volume of 1,616,443. The business has a 50 day simple moving average of $103.87 and a 200-day simple moving average of $90.76. 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 twelve month low of $38.95 and a twelve month high of $132.00. The stock has a market capitalization of $9.88 billion, a price-to-earnings ratio of 10.48 and a beta of 0.81.

Globe Life (NYSE:GL - Get Free Report) last announced its 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 net margin of 18.47% and a return on equity of 21.93%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the firm posted $2.61 EPS. The business's quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts predict that Globe Life Inc. will post 11.93 earnings per share for the current year.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.96 annualized dividend and a yield of 0.87%. Globe Life's payout ratio is 9.17%.

Analysts Set New Price Targets

GL has been the topic of a number of research reports. Raymond James upped their price target on shares of Globe Life from $160.00 to $188.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, October 15th. Truist Financial raised their price target on Globe Life from $80.00 to $90.00 and gave the stock a "hold" rating in a research note on Friday, July 26th. Jefferies Financial Group lifted their price target on Globe Life from $85.00 to $88.00 and gave the company a "hold" rating in a report on Friday, June 28th. TD Cowen started coverage on Globe Life in a report on Wednesday, October 9th. They issued a "buy" rating and a $150.00 price objective on the stock. Finally, Piper Sandler raised their price objective on shares of Globe Life from $106.00 to $118.00 and gave the company an "overweight" rating in a research report on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $117.40.

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.