Wealth Enhancement Advisory Services LLC Purchases 9,141 Shares of Globe Life Inc. (NYSE:GL)

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 85.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,779 shares of the company's stock after buying an additional 9,141 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Globe Life were worth $2,095,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GL. Riverview Trust Co bought a new stake in Globe Life during the 3rd quarter worth approximately $32,000. Keener Financial Planning LLC bought a new stake in Globe Life during the 1st quarter worth approximately $49,000. Benjamin F. Edwards & Company Inc. increased its holdings in Globe Life by 88.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company's stock worth $50,000 after acquiring an additional 281 shares during the period. LRI Investments LLC bought a new stake in Globe Life during the 1st quarter worth approximately $72,000. Finally, Family Firm Inc. bought a new stake in Globe Life during the 2nd quarter worth approximately $54,000. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Trading Down 1.5 %

Shares of GL stock traded down $1.58 on Friday, hitting $104.02. 580,778 shares of the company's stock traded hands, compared to its average volume of 595,983. 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 one year low of $38.95 and a one year high of $132.00. The company's fifty day simple moving average is $106.10 and its 200 day simple moving average is $92.17. The stock has a market capitalization of $9.34 billion, a price-to-earnings ratio of 8.80 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 EPS for the quarter, beating the consensus estimate of $3.06 by $0.43. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. Globe Life had a net margin of 19.04% and a return on equity of 22.58%. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.71 EPS. Equities analysts forecast that Globe Life Inc. will post 12.32 EPS for the current year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were given a $0.24 dividend. The ex-dividend date was Friday, October 4th. This represents a $0.96 annualized dividend and a dividend yield of 0.92%. Globe Life's dividend payout ratio is 8.12%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GL. TD Cowen started coverage on shares of Globe Life in a report on Wednesday, October 9th. They set a "buy" rating and a $150.00 target price on the stock. Raymond James increased their price target 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. Truist Financial increased their price target on shares of Globe Life from $90.00 to $105.00 and gave the stock a "hold" rating in a report on Friday, October 25th. Keefe, Bruyette & Woods increased their price target on shares of Globe Life from $120.00 to $125.00 and gave the stock an "outperform" rating in a report on Tuesday, October 29th. Finally, 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 report on Friday, October 25th. Five equities research 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, the company has a consensus rating of "Moderate Buy" and a consensus target price of $124.50.

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.