Globe Life Inc. (NYSE:GL) Shares Sold by Equity Investment Corp

Equity Investment Corp cut its position in Globe Life Inc. (NYSE:GL) by 0.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,031,585 shares of the company’s stock after selling 4,804 shares during the period. Globe Life makes up 2.5% of Equity Investment Corp’s holdings, making the stock its 16th largest position. Equity Investment Corp owned approximately 1.15% of Globe Life worth $109,255,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans increased its holdings in shares of Globe Life by 4.0% in the third quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company’s stock valued at $373,000 after purchasing an additional 136 shares during the period. Mutual of America Capital Management LLC grew its holdings in Globe Life by 4.4% during the third quarter. Mutual of America Capital Management LLC now owns 11,060 shares of the company’s stock worth $1,171,000 after acquiring an additional 471 shares during the period. CIBC Asset Management Inc grew its holdings in Globe Life by 13.3% during the third quarter. CIBC Asset Management Inc now owns 12,777 shares of the company’s stock worth $1,353,000 after acquiring an additional 1,495 shares during the period. Victory Capital Management Inc. grew its holdings in Globe Life by 38.9% during the third quarter. Victory Capital Management Inc. now owns 421,018 shares of the company’s stock worth $44,590,000 after acquiring an additional 117,839 shares during the period. Finally, Aigen Investment Management LP acquired a new stake in Globe Life during the third quarter worth about $750,000. 81.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on GL shares. Piper Sandler raised their target price on Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. TD Cowen started coverage on Globe Life in a report on Wednesday, October 9th. They set a “buy” rating and a $150.00 target price on the stock. Raymond James raised their target price on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 15th. Morgan Stanley increased their price target on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company increased their price target on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.50.

Globe Life Stock Performance

NYSE GL opened at $109.20 on Monday. The company has a market cap of $9.17 billion, a PE ratio of 9.24 and a beta of 0.81. The stock’s 50 day simple moving average is $106.97 and its 200-day simple moving average is $94.81. 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 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. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.71 earnings per share. As a group, equities research analysts anticipate that Globe Life Inc. will post 12.31 EPS for the current fiscal year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 8th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.88%. Globe Life’s dividend payout ratio (DPR) is presently 8.12%.

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.