Quantbot Technologies LP lowered its stake in Globe Life Inc. (NYSE:GL - Free Report) by 86.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,198 shares of the company's stock after selling 59,747 shares during the quarter. Quantbot Technologies LP's holdings in Globe Life were worth $974,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have 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. Benjamin F. Edwards & Company Inc. grew its position in Globe Life by 88.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company's stock worth $50,000 after buying an additional 281 shares in the last quarter. LRI Investments LLC increased its stake in Globe Life by 898.4% in the 2nd quarter. LRI Investments LLC now owns 619 shares of the company's stock worth $51,000 after acquiring an additional 557 shares during the last quarter. Family Firm Inc. purchased a new stake in shares of Globe Life in the 2nd quarter valued at about $54,000. Finally, Private Trust Co. NA boosted its position in shares of Globe Life by 67.5% during the 3rd quarter. Private Trust Co. NA now owns 670 shares of the company's stock valued at $71,000 after acquiring an additional 270 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
GL has been the topic of several research analyst reports. Piper Sandler upped their price objective on shares of Globe Life from $118.00 to $130.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Raymond James raised their price objective on shares of Globe Life from $160.00 to $188.00 and gave the company a "strong-buy" rating in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods lifted their price target on Globe Life from $120.00 to $125.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 29th. Wells Fargo & Company increased their price objective on Globe Life from $108.00 to $117.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. Finally, TD Cowen initiated coverage on shares of Globe Life in a research report on Wednesday, October 9th. They set a "buy" rating and a $150.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $124.50.
Read Our Latest Report on Globe Life
Globe Life Trading Down 0.7 %
GL stock traded down $0.74 on Monday, reaching $110.50. The company's stock had a trading volume of 258,675 shares, compared to its average volume of 1,481,338. The firm has a market cap of $9.28 billion, a PE ratio of 9.35 and a beta of 0.81. The business has a fifty day simple moving average of $108.15 and a two-hundred day simple moving average of $96.63. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05.
Globe Life (NYSE:GL - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The firm had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.46 billion. During the same period last year, the company posted $2.71 EPS. The company's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, research analysts forecast that Globe Life Inc. will post 12.31 EPS for the current year.
Globe Life Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 8th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.87%. The ex-dividend date is Monday, January 6th. Globe Life's payout ratio is currently 8.12%.
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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