Creative Planning lifted its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 43.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,477 shares of the company's stock after acquiring an additional 9,892 shares during the period. Creative Planning's holdings in Globe Life were worth $3,440,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in GL. Nordea Investment Management AB boosted its holdings in Globe Life by 10,526.9% in the 1st quarter. Nordea Investment Management AB now owns 998,717 shares of the company's stock worth $116,061,000 after acquiring an additional 989,319 shares during the period. D. E. Shaw & Co. Inc. boosted its stake in shares of Globe Life by 398.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company's stock valued at $88,420,000 after purchasing an additional 859,146 shares during the period. Bank of New York Mellon Corp grew its holdings in Globe Life by 104.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company's stock valued at $132,577,000 after purchasing an additional 822,638 shares in the last quarter. Millennium Management LLC increased its stake in Globe Life by 177.0% during the 2nd quarter. Millennium Management LLC now owns 1,279,818 shares of the company's stock worth $105,303,000 after buying an additional 817,760 shares during the period. Finally, Pzena Investment Management LLC lifted its holdings in Globe Life by 146.3% in the 2nd quarter. Pzena Investment Management LLC now owns 930,378 shares of the company's stock worth $76,552,000 after buying an additional 552,634 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company's stock.
Analyst Ratings Changes
Several research firms have issued reports on GL. Wells Fargo & Company lifted their price objective 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 reiterated an "outperform" rating and set a $118.00 price objective (up from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Jefferies Financial Group boosted their target price on shares of Globe Life from $85.00 to $88.00 and gave the stock a "hold" rating in a research report on Friday, June 28th. Piper Sandler increased their price target on shares of Globe Life from $118.00 to $130.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Truist Financial boosted their price objective on Globe Life from $90.00 to $105.00 and gave the company a "hold" rating in a report on Friday. 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 stock. Based on data from MarketBeat.com, Globe Life presently has a consensus rating of "Moderate Buy" and an average target price of $123.80.
Get Our Latest Analysis on GL
Globe Life Stock Performance
Shares of GL traded down $4.24 during trading hours on Friday, reaching $105.15. 1,135,956 shares of the company's stock traded hands, compared to its average volume of 1,597,292. The firm has a market capitalization of $9.47 billion, a price-to-earnings ratio of 10.04 and a beta of 0.81. The business's fifty day simple moving average is $105.37 and its two-hundred day simple moving average is $90.77. Globe Life Inc. has a twelve month low of $38.95 and a twelve month 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 data on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, beating analysts' consensus estimates of $3.06 by $0.43. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The business's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the business earned $2.71 earnings per share. Analysts predict that Globe Life Inc. will post 11.93 earnings per share 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 issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.91%. Globe Life's payout ratio is currently 9.17%.
About Globe Life
(
Free Report)
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.
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