UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 22.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,519,675 shares of the company's stock after acquiring an additional 277,108 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 1.81% of Globe Life worth $160,949,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new position in shares of Globe Life during the third quarter worth about $32,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of 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 purchasing an additional 281 shares in the last quarter. LRI Investments LLC lifted its stake in shares of Globe Life by 898.4% during the second quarter. LRI Investments LLC now owns 619 shares of the company's stock worth $51,000 after purchasing an additional 557 shares in the last quarter. Family Firm Inc. acquired a new position in shares of Globe Life during the second quarter worth about $54,000. Finally, Blue Trust Inc. lifted its stake in shares of Globe Life by 249.5% during the second quarter. Blue Trust Inc. now owns 776 shares of the company's stock worth $64,000 after purchasing an additional 554 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have commented on GL. Keefe, Bruyette & Woods boosted their price objective on Globe Life from $120.00 to $125.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 29th. Raymond James boosted their price target on Globe Life from $160.00 to $188.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, October 15th. Truist Financial boosted their price target on Globe Life from $90.00 to $105.00 and gave the stock a "hold" rating in a research note on Friday, October 25th. Morgan Stanley boosted their price target on Globe Life from $110.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 24th. Finally, Piper Sandler boosted their price target on Globe Life from $118.00 to $130.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $124.50.
Read Our Latest Report on Globe Life
Globe Life Stock Down 0.4 %
NYSE GL traded down $0.46 on Friday, hitting $111.24. 311,572 shares of the stock traded hands, compared to its average volume of 505,068. The stock has a 50-day moving average of $108.15 and a 200 day moving average of $96.56. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The company has a market capitalization of $9.34 billion, a P/E ratio of 9.41 and a beta of 0.81. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50.
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, beating the consensus estimate of $3.06 by $0.43. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The business's revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.71 earnings per share. As a group, analysts expect that Globe Life Inc. will post 12.31 earnings per share for the current fiscal year.
Globe Life Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 8th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life's dividend payout ratio (DPR) is presently 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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