DekaBank Deutsche Girozentrale Buys 23,148 Shares of Globe Life Inc. (NYSE:GL)

DekaBank Deutsche Girozentrale increased its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 19.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 141,543 shares of the company's stock after acquiring an additional 23,148 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.16% of Globe Life worth $14,610,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Globe Life by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company's stock valued at $1,309,755,000 after purchasing an additional 425,993 shares during the last quarter. Boston Partners increased its position in shares of Globe Life by 6.4% during the 1st quarter. Boston Partners now owns 2,092,526 shares of the company's stock valued at $243,200,000 after purchasing an additional 125,457 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Globe Life by 104.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company's stock worth $132,577,000 after buying an additional 822,638 shares during the last quarter. Millennium Management LLC grew its position in Globe Life by 177.0% during the second quarter. Millennium Management LLC now owns 1,279,818 shares of the company's stock valued at $105,303,000 after buying an additional 817,760 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its holdings in Globe Life by 398.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company's stock worth $88,420,000 after buying an additional 859,146 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the company. TD Cowen assumed coverage on Globe Life in a research note on Wednesday, October 9th. They issued a "buy" rating and a $150.00 target price on the stock. Truist Financial upped their price objective on shares of Globe Life from $90.00 to $105.00 and gave the company a "hold" rating in a report on Friday, October 25th. Wells Fargo & Company increased their target price on shares of Globe Life from $108.00 to $117.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods upped their price target on shares of Globe Life from $120.00 to $125.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, Piper Sandler raised their price objective on shares of Globe Life from $118.00 to $130.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Five investment 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 company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $124.50.

Globe Life Price Performance

Shares of NYSE:GL traded up $0.07 during trading on Wednesday, reaching $107.00. The company had a trading volume of 427,778 shares, compared to its average volume of 1,583,688. The company has a fifty day moving average of $105.71 and a two-hundred day moving average of $91.40. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $9.61 billion, a P/E ratio of 9.06 and a beta of 0.81. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00.

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

Globe Life Announces Dividend

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 given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Friday, October 4th. Globe Life's payout ratio is currently 8.12%.

Globe Life Profile

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.