International Assets Investment Management LLC Buys 334,459 Shares of Globe Life Inc. (NYSE:GL)

International Assets Investment Management LLC grew its position in Globe Life Inc. (NYSE:GL - Free Report) by 15,398.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 336,631 shares of the company's stock after buying an additional 334,459 shares during the quarter. International Assets Investment Management LLC owned 0.37% of Globe Life worth $356,530,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Private Advisor Group LLC acquired a new position in shares of Globe Life during the 3rd quarter worth $262,000. Signaturefd LLC raised its stake in Globe Life by 24.2% during the third quarter. Signaturefd LLC now owns 4,625 shares of the company's stock worth $490,000 after acquiring an additional 902 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Globe Life in the third quarter worth about $276,000. Everence Capital Management Inc. boosted its stake in shares of Globe Life by 184.3% in the 3rd quarter. Everence Capital Management Inc. now owns 11,800 shares of the company's stock valued at $1,250,000 after purchasing an additional 7,650 shares in the last quarter. Finally, DMC Group LLC acquired a new stake in shares of Globe Life in the 3rd quarter valued at approximately $233,000. Institutional investors own 81.61% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on GL. Jefferies Financial Group increased their price objective on shares of Globe Life from $85.00 to $88.00 and gave the company a "hold" rating in a research note on Friday, June 28th. TD Cowen assumed coverage on Globe Life in a report on Wednesday, October 9th. They set a "buy" rating and a $150.00 price objective on the stock. Wells Fargo & Company upped their target price on Globe Life from $108.00 to $117.00 and gave the stock an "overweight" rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $118.00 price target (up from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Finally, Raymond James upped their price objective on Globe Life from $160.00 to $188.00 and gave the company a "strong-buy" rating in a research note on Tuesday, October 15th. Five investment 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $123.80.

Globe Life Trading Down 3.9 %

Shares of NYSE GL traded down $4.24 during midday trading on Friday, reaching $105.15. The stock had a trading volume of 1,133,709 shares, compared to its average volume of 1,597,292. The company's 50 day moving average price is $105.21 and its 200 day moving average price is $90.90. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The firm has a market cap of $9.44 billion, a price-to-earnings ratio of 9.48 and a beta of 0.81.

Globe Life (NYSE:GL - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.06 by $0.43. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the business earned $2.71 earnings per share. Globe Life's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, sell-side analysts expect that Globe Life Inc. will post 11.93 EPS for the current year.

Globe Life Announces Dividend

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 0.91%. Globe Life's dividend payout ratio is currently 8.68%.

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.