Swiss National Bank cut its stake in Globe Life Inc. (NYSE:GL - Free Report) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 180,200 shares of the company's stock after selling 5,000 shares during the period. Swiss National Bank owned 0.20% of Globe Life worth $19,085,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. grew its stake in shares of Globe Life by 398.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company's stock worth $88,420,000 after purchasing an additional 859,146 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Globe Life by 104.3% in the second quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company's stock worth $132,577,000 after purchasing an additional 822,638 shares in the last quarter. Millennium Management LLC grew its stake in shares of Globe Life by 177.0% in the second quarter. Millennium Management LLC now owns 1,279,818 shares of the company's stock worth $105,303,000 after purchasing an additional 817,760 shares in the last quarter. Pzena Investment Management LLC grew its stake in shares of Globe Life by 146.3% in the second quarter. Pzena Investment Management LLC now owns 930,378 shares of the company's stock worth $76,552,000 after purchasing an additional 552,634 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Globe Life by 15,398.7% during the third quarter. International Assets Investment Management LLC now owns 336,631 shares of the company's stock valued at $356,530,000 after buying an additional 334,459 shares in the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts recently weighed in on GL shares. Morgan Stanley raised their target price on Globe Life from $110.00 to $120.00 and gave the company an "equal weight" rating in a research note on Thursday, October 24th. Raymond James increased their price target on 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 increased their price target on Globe Life from $120.00 to $125.00 and gave the company an "outperform" rating in a research report on Tuesday, October 29th. Truist Financial increased their price target on Globe Life from $90.00 to $105.00 and gave the company a "hold" rating in a research report on Friday, October 25th. Finally, Wells Fargo & Company increased their price objective on Globe Life from $108.00 to $117.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. 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 stock presently has an average rating of "Moderate Buy" and an average target price of $124.50.
Check Out Our Latest Research Report on GL
Globe Life Price Performance
Shares of Globe Life stock traded up $1.49 during midday trading on Friday, hitting $110.48. 579,692 shares of the company were exchanged, compared to its average volume of 1,505,822. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market cap of $9.27 billion, a P/E ratio of 9.35 and a beta of 0.81. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The firm has a 50 day simple moving average of $107.65 and a 200-day simple moving average of $95.65.
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 return on equity of 22.91% and a net margin of 19.04%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the company earned $2.71 EPS. Globe Life's revenue was up 5.1% on a year-over-year basis. Research analysts forecast that Globe Life Inc. will post 12.31 earnings per share for the current year.
Globe Life Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 8th will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 annualized dividend and a yield of 0.87%. Globe Life's payout ratio is 8.12%.
Globe Life Profile
(
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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