Financial Management Professionals Inc. reduced its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 76.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,097 shares of the company's stock after selling 13,369 shares during the quarter. Financial Management Professionals Inc.'s holdings in Globe Life were worth $434,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Riverview Trust Co bought a new stake in Globe Life in the third quarter valued at about $32,000. Keener Financial Planning LLC bought a new stake in shares of Globe Life in the 1st quarter valued at approximately $49,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Globe Life by 88.4% in the 2nd 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 last quarter. LRI Investments LLC acquired a new stake in shares of Globe Life during the 1st quarter valued at approximately $72,000. Finally, Family Firm Inc. bought a new position in Globe Life during the second quarter worth $54,000. Institutional investors and hedge funds own 81.61% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the stock. Truist Financial increased their target price on shares of Globe Life from $90.00 to $105.00 and gave the stock a "hold" rating in a report on Friday. Wells Fargo & Company increased their price objective on shares of Globe Life from $108.00 to $117.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. Raymond James raised their target price on shares of Globe Life from $160.00 to $188.00 and gave the stock a "strong-buy" rating in a report on Tuesday, October 15th. TD Cowen began coverage on Globe Life in a report on Wednesday, October 9th. They set a "buy" rating and a $150.00 target price for the company. Finally, Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $118.00 price target (up previously from $110.00) on shares of Globe Life in a report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $123.80.
Get Our Latest Stock Report on Globe Life
Globe Life Stock Performance
GL stock traded down $4.24 during trading on Friday, reaching $105.15. 1,135,956 shares of the company's stock were exchanged, compared to its average volume of 1,597,292. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The firm has a market cap of $9.47 billion, a PE ratio of 10.04 and a beta of 0.81. The company's fifty day moving average price is $105.37 and its 200-day moving average price is $90.67. 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 (NYSE:GL - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping analysts' consensus estimates of $3.06 by $0.43. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. Globe Life's revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.71 EPS. On average, research analysts expect that Globe Life Inc. will post 11.93 EPS for the current fiscal year.
Globe Life Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Friday, October 4th. Globe Life's payout ratio is 9.17%.
Globe Life Company Profile
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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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