Everence Capital Management Inc. Purchases 7,650 Shares of Globe Life Inc. (NYSE:GL)

Everence Capital Management Inc. grew its position in Globe Life Inc. (NYSE:GL - Free Report) by 184.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,800 shares of the company's stock after purchasing an additional 7,650 shares during the period. Everence Capital Management Inc.'s holdings in Globe Life were worth $1,250,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Riverview Trust Co acquired a new stake in Globe Life in the third quarter worth about $32,000. Keener Financial Planning LLC bought a new position in shares of Globe Life in the first quarter valued at approximately $49,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Globe Life by 88.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company's stock valued at $50,000 after acquiring an additional 281 shares during the period. LRI Investments LLC raised its holdings in Globe Life by 898.4% during the second quarter. LRI Investments LLC now owns 619 shares of the company's stock worth $51,000 after purchasing an additional 557 shares in the last quarter. Finally, Family Firm Inc. acquired a new stake in Globe Life in the second quarter worth approximately $54,000. Institutional investors own 81.61% of the company's stock.

Globe Life Trading Up 0.4 %

NYSE GL traded up $0.47 on Monday, hitting $110.19. 602,061 shares of the stock were exchanged, compared to its average volume of 1,611,446. The company's 50-day moving average price is $103.87 and its two-hundred day moving average price is $90.61. The company has a market capitalization of $9.92 billion, a price-to-earnings ratio of 10.53 and a beta of 0.81. 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 0.31, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, beating 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 firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the firm earned $2.61 earnings per share. Globe Life's quarterly revenue was up 8.6% on a year-over-year basis. Research analysts predict that Globe Life Inc. will post 11.93 EPS for the current year.

Globe Life Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GL shares. Piper Sandler boosted their price objective on Globe Life from $106.00 to $118.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 2nd. Raymond James boosted 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 report on Tuesday, October 15th. Morgan Stanley raised their price objective on shares of Globe Life from $66.00 to $83.00 and gave the company an "equal weight" rating in a research report on Monday, August 19th. Truist Financial boosted their target price 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. Finally, TD Cowen began coverage on shares of Globe Life in a report on Wednesday, October 9th. They set a "buy" rating and a $150.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $117.40.

Insider Buying and Selling at Globe Life

In related news, Director Mary E. Thigpen purchased 3,000 shares of the stock in a transaction dated Friday, July 26th. The shares were acquired at an average cost 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 approximately $1,407,571. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.51% of the company's stock.

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.