Segall Bryant & Hamill LLC Has $30.77 Million Position in Globe Life Inc. (NYSE:GL)

Segall Bryant & Hamill LLC lifted its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 78.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 290,515 shares of the company's stock after buying an additional 127,764 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.32% of Globe Life worth $30,768,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in GL. Riverview Trust Co acquired a new position in Globe Life in the third quarter worth $32,000. Benjamin F. Edwards & Company Inc. lifted its stake in Globe Life by 88.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company's stock valued at $50,000 after buying an additional 281 shares during the last quarter. LRI Investments LLC bought a new stake in Globe Life in the first quarter valued at $72,000. Family Firm Inc. bought a new stake in shares of Globe Life during the second quarter valued at about $54,000. Finally, Intact Investment Management Inc. bought a new stake in shares of Globe Life during the third quarter valued at about $73,000. Institutional investors and hedge funds own 81.61% of the company's stock.

Globe Life Stock Down 1.0 %

Shares of NYSE GL traded down $1.08 during trading hours on Wednesday, hitting $108.24. The stock had a trading volume of 116,248 shares, compared to its average volume of 1,513,165. The firm's 50-day moving average price is $107.24 and its two-hundred day moving average price is $95.25. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The company has a market capitalization of $9.09 billion, a P/E ratio of 9.25 and a beta of 0.81. 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 for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the business posted $2.71 earnings per share. The business's quarterly revenue was up 5.1% on a year-over-year basis. Analysts anticipate that Globe Life Inc. will post 12.31 EPS for the current fiscal year.

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 8th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life's dividend payout ratio is 8.12%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GL. Keefe, Bruyette & Woods lifted their price objective on shares of Globe Life from $120.00 to $125.00 and gave the company an "outperform" rating in a research note on Tuesday, October 29th. Morgan Stanley upped their target price on Globe Life from $110.00 to $120.00 and gave the company an "equal weight" rating in a report on Thursday, October 24th. Wells Fargo & Company lifted 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. Piper Sandler upped their price target on shares of Globe Life from $118.00 to $130.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Finally, Raymond James boosted their target price on shares of Globe Life from $160.00 to $188.00 and gave the company a "strong-buy" rating in a research note on Tuesday, October 15th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.