McNamara Financial Services Inc. Purchases New Shares in Globe Life Inc. (NYSE:GL)

McNamara Financial Services Inc. acquired a new position in shares of Globe Life Inc. (NYSE:GL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,251 shares of the company’s stock, valued at approximately $238,000.

A number of other hedge funds have also recently added to or reduced their stakes in GL. Vanguard Group Inc. raised its position in shares of Globe Life by 3.9% during the first quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock worth $1,309,755,000 after acquiring an additional 425,993 shares during the last quarter. Boston Partners lifted its position in Globe Life by 6.4% during the 1st quarter. Boston Partners now owns 2,092,526 shares of the company’s stock valued at $243,200,000 after purchasing an additional 125,457 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Globe Life by 104.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company’s stock valued at $132,577,000 after purchasing an additional 822,638 shares during the last quarter. Millennium Management LLC grew its position in shares of Globe Life by 177.0% during the 2nd quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock worth $105,303,000 after buying an additional 817,760 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of Globe Life by 398.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company’s stock worth $88,420,000 after buying an additional 859,146 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Insiders Place Their Bets

In related news, Director Mary E. Thigpen acquired 3,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was bought at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the acquisition, the director now directly owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.51% of the company’s stock.

Globe Life Stock Up 1.3 %

NYSE GL traded up $1.35 on Friday, reaching $107.78. The company had a trading volume of 516,030 shares, compared to its average volume of 1,643,985. The company’s fifty day moving average is $101.88 and its 200-day moving average is $91.11. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The firm has a market capitalization of $9.68 billion, a price-to-earnings ratio of 9.75 and a beta of 0.81. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. Globe Life’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the company earned $2.61 earnings per share. On average, research analysts forecast that Globe Life Inc. will post 11.93 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a $0.24 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.96 annualized dividend and a yield of 0.89%. Globe Life’s payout ratio is currently 8.68%.

Analysts Set New Price Targets

A number of analysts have commented on GL shares. Jefferies Financial Group lifted their target price on shares of Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, June 28th. Morgan Stanley upped their price objective on Globe Life from $66.00 to $83.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $118.00 target price (up previously from $110.00) on shares of Globe Life in a report on Wednesday, July 31st. Evercore ISI upped their price target on Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a research note on Wednesday, June 26th. Finally, TD Cowen assumed coverage on shares of Globe Life in a research note on Wednesday. They set a “buy” rating and a $150.00 price objective on the stock. Five equities research 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, Globe Life presently has an average rating of “Moderate Buy” and an average price target of $114.60.

About Globe Life

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.