Globe Life Inc. (NYSE:GL) Shares Purchased by First National Bank of Hutchinson

First National Bank of Hutchinson boosted its holdings in shares of Globe Life Inc. (NYSE:GL) by 13.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,371 shares of the company’s stock after buying an additional 1,654 shares during the quarter. Globe Life accounts for 1.0% of First National Bank of Hutchinson’s investment portfolio, making the stock its 20th largest position. First National Bank of Hutchinson’s holdings in Globe Life were worth $1,522,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GL. Riverview Trust Co purchased a new position in shares of Globe Life in the 3rd quarter valued at about $32,000. Keener Financial Planning LLC acquired a new stake in Globe Life in the first quarter valued at approximately $49,000. Benjamin F. Edwards & Company Inc. lifted its stake in Globe Life by 88.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after acquiring an additional 281 shares during the last quarter. LRI Investments LLC acquired a new position in Globe Life during the 1st quarter worth approximately $72,000. Finally, Family Firm Inc. purchased a new stake in shares of Globe Life in the 2nd quarter valued at approximately $54,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Trading Down 0.2 %

Shares of GL stock opened at $110.86 on Thursday. Globe Life Inc. has a twelve month low of $38.95 and a twelve 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 0.31. The business’s 50 day moving average is $104.94 and its two-hundred day moving average is $90.77. The company has a market capitalization of $9.98 billion, a P/E ratio of 10.59 and a beta of 0.81.

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

Globe Life Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.87%. Globe Life’s dividend payout ratio (DPR) is 9.17%.

Insider Buying and Selling

In other Globe Life news, Director Mary E. Thigpen purchased 3,000 shares of Globe Life stock in a transaction dated Friday, July 26th. The stock was acquired at an average cost of $90.20 per share, with a total value of $270,600.00. Following the acquisition, the director now directly owns 15,605 shares of the company’s stock, valued at $1,407,571. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.51% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently commented on GL. Raymond James boosted their target price on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $118.00 price objective (up previously from $110.00) on shares of Globe Life in a report on Wednesday, July 31st. Wells Fargo & Company boosted their target price on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Morgan Stanley increased their price target on shares of Globe Life from $66.00 to $83.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Finally, Piper Sandler boosted their price target on shares of Globe Life from $106.00 to $118.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Five 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. Based on data from MarketBeat, Globe Life currently has an average rating of “Moderate Buy” and an average target price of $117.40.

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.