Nicholas Hoffman & Company LLC. Grows Position in Globe Life Inc. (NYSE:GL)

Nicholas Hoffman & Company LLC. lifted its holdings in shares of Globe Life Inc. (NYSE:GL) by 25.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,029 shares of the company’s stock after buying an additional 2,265 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Globe Life were worth $907,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GL. Pzena Investment Management LLC lifted its holdings in Globe Life by 146.3% in the second quarter. Pzena Investment Management LLC now owns 930,378 shares of the company’s stock valued at $76,552,000 after acquiring an additional 552,634 shares during the period. Natixis Advisors LLC raised its stake in shares of Globe Life by 20.2% in the second quarter. Natixis Advisors LLC now owns 130,855 shares of the company’s stock worth $10,767,000 after buying an additional 22,009 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Globe Life by 866.6% in the second quarter. Farther Finance Advisors LLC now owns 3,441 shares of the company’s stock worth $285,000 after buying an additional 3,085 shares during the period. Van ECK Associates Corp raised its stake in shares of Globe Life by 204.2% in the second quarter. Van ECK Associates Corp now owns 41,752 shares of the company’s stock worth $3,435,000 after buying an additional 28,028 shares during the period. Finally, Commonwealth Equity Services LLC raised its stake in shares of Globe Life by 35.3% in the second quarter. Commonwealth Equity Services LLC now owns 47,482 shares of the company’s stock worth $3,907,000 after buying an additional 12,401 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Globe Life

In related news, Director Mary E. Thigpen purchased 3,000 shares of Globe Life stock in a transaction dated Friday, July 26th. The stock was purchased at an average cost of $90.20 per share, with a total value of $270,600.00. Following the transaction, the director now owns 15,605 shares in the company, valued at approximately $1,407,571. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.51% of the company’s stock.

Globe Life Stock Down 0.7 %

NYSE GL traded down $0.69 on Thursday, reaching $104.86. 83,461 shares of the stock traded hands, compared to its average volume of 1,767,246. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.05 and a current ratio of 0.05. The company has a fifty day moving average price of $91.84 and a 200-day moving average price of $94.23. The company has a market cap of $9.44 billion, a price-to-earnings ratio of 10.08 and a beta of 0.80. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.90 by $0.07. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.61 EPS. As a group, research analysts forecast that Globe Life Inc. will post 11.92 EPS for the current fiscal year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Friday, October 4th. Globe Life’s payout ratio is 9.17%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wells Fargo & Company raised their price objective on Globe Life from $105.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Truist Financial raised their price target on Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $118.00 price target (up previously from $110.00) on shares of Globe Life in a report on Wednesday, July 31st. Morgan Stanley lifted their target price on Globe Life from $66.00 to $83.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Finally, Evercore ISI lifted their target price on Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a report on Wednesday, June 26th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Globe Life currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.33.

Globe Life Company 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.