Victory Capital Management Inc. Raises Stock Position in Globe Life Inc. (NYSE:GL)

Victory Capital Management Inc. boosted its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 38.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 421,018 shares of the company's stock after purchasing an additional 117,839 shares during the period. Victory Capital Management Inc. owned about 0.47% of Globe Life worth $44,590,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. UMB Bank n.a. lifted its position in shares of Globe Life by 7.7% in the 3rd quarter. UMB Bank n.a. now owns 1,357 shares of the company's stock worth $144,000 after purchasing an additional 97 shares during the period. Farther Finance Advisors LLC boosted its position in Globe Life by 4.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,607 shares of the company's stock valued at $382,000 after acquiring an additional 166 shares in the last quarter. TrueWealth Advisors LLC boosted its position in Globe Life by 1.3% during the 3rd quarter. TrueWealth Advisors LLC now owns 13,141 shares of the company's stock valued at $1,392,000 after acquiring an additional 170 shares in the last quarter. Ballentine Partners LLC grew its holdings in shares of Globe Life by 7.7% during the 3rd quarter. Ballentine Partners LLC now owns 2,682 shares of the company's stock worth $284,000 after acquiring an additional 191 shares during the period. Finally, Bruce G. Allen Investments LLC raised its position in shares of Globe Life by 33.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 806 shares of the company's stock worth $66,000 after acquiring an additional 201 shares in the last quarter. Institutional investors own 81.61% of the company's stock.

Globe Life Stock Up 0.2 %

GL traded up $0.19 during trading on Friday, hitting $109.20. 451,458 shares of the company's stock traded hands, compared to its average volume of 1,528,821. The stock has a market capitalization of $9.17 billion, a price-to-earnings ratio of 9.24 and a beta of 0.81. The company's 50 day simple moving average is $106.97 and its two-hundred day simple moving average is $94.70. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. 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 announced its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $1.46 billion. During the same period in the previous year, the business posted $2.71 earnings per share. The business's revenue for the quarter was up 5.1% on a year-over-year basis. Analysts predict that Globe Life Inc. will post 12.32 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The company also recently announced 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. This represents a $0.96 annualized dividend and a yield of 0.88%. Globe Life's payout ratio is 8.12%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GL shares. Keefe, Bruyette & Woods upped 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. Truist Financial upped their target price on shares of Globe Life from $90.00 to $105.00 and gave the stock a "hold" rating in a research report on Friday, October 25th. Raymond James lifted their price target 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. TD Cowen initiated coverage on shares of Globe Life in a report on Wednesday, October 9th. They issued a "buy" rating and a $150.00 price objective on the stock. Finally, Wells Fargo & Company lifted their target price on shares of Globe Life from $108.00 to $117.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $124.50.

Globe Life 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.