Algert Global LLC Raises Holdings in Globe Life Inc. (NYSE:GL)

Algert Global LLC boosted its stake in shares of Globe Life Inc. (NYSE:GL) by 29.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 105,053 shares of the company’s stock after acquiring an additional 23,887 shares during the quarter. Algert Global LLC’s holdings in Globe Life were worth $11,126,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of GL. Edgestream Partners L.P. purchased a new position in Globe Life in the first quarter valued at $233,000. Bessemer Group Inc. grew its position in shares of Globe Life by 308.5% during the 1st quarter. Bessemer Group Inc. now owns 11,827 shares of the company’s stock valued at $1,377,000 after acquiring an additional 8,932 shares during the period. LRI Investments LLC purchased a new position in shares of Globe Life in the 1st quarter valued at about $72,000. Lazard Asset Management LLC raised its holdings in Globe Life by 41.5% in the 1st quarter. Lazard Asset Management LLC now owns 352,221 shares of the company’s stock worth $40,987,000 after purchasing an additional 103,226 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in Globe Life by 5.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 198,945 shares of the company’s stock worth $23,153,000 after purchasing an additional 9,497 shares in the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on GL. Wells Fargo & Company boosted their price objective on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Truist Financial lifted their price target 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. Raymond James upped their price objective on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 15th. Morgan Stanley boosted 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. Finally, TD Cowen started coverage on shares of Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price target on the stock. Five equities research 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $124.50.

Globe Life Trading Up 1.4 %

GL opened at $110.48 on Friday. The firm has a market capitalization of $9.27 billion, a price-to-earnings ratio of 9.35 and a beta of 0.81. The company’s 50 day simple moving average is $107.65 and its two-hundred day simple moving average is $95.65. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a return on equity of 22.91% 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 previous year, the company posted $2.71 earnings per share. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. Analysts expect that Globe Life Inc. will post 12.31 EPS 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 paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s dividend payout ratio (DPR) is presently 8.12%.

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.