Van ECK Associates Corp Raises Position in Globe Life Inc. (NYSE:GL)

Van ECK Associates Corp grew its stake in Globe Life Inc. (NYSE:GL - Free Report) by 40.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,455 shares of the company's stock after buying an additional 16,703 shares during the period. Van ECK Associates Corp owned 0.06% of Globe Life worth $6,480,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Farther Finance Advisors LLC increased its position in Globe Life by 4.8% during the third quarter. Farther Finance Advisors LLC now owns 3,607 shares of the company's stock worth $382,000 after buying an additional 166 shares during the period. US Bancorp DE increased its holdings in shares of Globe Life by 1.3% in the 3rd quarter. US Bancorp DE now owns 36,735 shares of the company's stock valued at $3,891,000 after acquiring an additional 470 shares during the period. First Trust Direct Indexing L.P. raised its position in Globe Life by 39.2% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 3,439 shares of the company's stock valued at $364,000 after purchasing an additional 968 shares during the last quarter. New York State Teachers Retirement System boosted its stake in Globe Life by 2.9% during the 3rd quarter. New York State Teachers Retirement System now owns 98,618 shares of the company's stock worth $10,445,000 after purchasing an additional 2,749 shares during the period. Finally, Pallas Capital Advisors LLC boosted its stake in Globe Life by 137.0% during the 3rd quarter. Pallas Capital Advisors LLC now owns 6,951 shares of the company's stock worth $760,000 after purchasing an additional 4,018 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods raised their price target on Globe Life from $120.00 to $125.00 and gave the stock an "outperform" rating in a report on Tuesday, October 29th. Wells Fargo & Company boosted their target price on Globe Life from $108.00 to $117.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Piper Sandler increased their price target on Globe Life from $118.00 to $130.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Truist Financial boosted their price objective on shares of Globe Life from $90.00 to $105.00 and gave the company a "hold" rating in a research note on Friday, October 25th. Finally, Morgan Stanley raised their target price on shares of Globe Life from $110.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Globe Life presently has a consensus rating of "Moderate Buy" and a consensus price target of $124.50.

Globe Life Price Performance

Shares of GL traded up $1.26 on Friday, reaching $109.86. The stock had a trading volume of 192,879 shares, compared to its average volume of 1,549,387. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The firm has a market capitalization of $9.87 billion, a PE ratio of 9.19 and a beta of 0.81. The firm has a 50-day moving average of $106.39 and a 200 day moving average of $93.14. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.31.

Globe Life (NYSE:GL - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.43. Globe Life had a return on equity of 22.58% and a net margin of 19.04%. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the company earned $2.71 earnings per share. Globe Life's revenue was up 5.1% compared to the same quarter last year. Sell-side analysts expect that Globe Life Inc. will post 12.32 EPS for the current year.

Globe Life Company Profile

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.