Everence Capital Management Inc. Increases Holdings in Globe Life Inc. (NYSE:GL)

Everence Capital Management Inc. raised its holdings in shares of Globe Life Inc. (NYSE:GL) by 184.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,800 shares of the company’s stock after acquiring an additional 7,650 shares during the quarter. Everence Capital Management Inc.’s holdings in Globe Life were worth $1,250,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Riverview Trust Co acquired a new stake in Globe Life during the 3rd quarter worth $32,000. Keener Financial Planning LLC acquired a new stake in shares of Globe Life during the first quarter worth about $49,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Globe Life by 88.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after purchasing an additional 281 shares during the last quarter. LRI Investments LLC boosted its position in shares of Globe Life by 898.4% in the 2nd quarter. LRI Investments LLC now owns 619 shares of the company’s stock valued at $51,000 after purchasing an additional 557 shares during the period. Finally, Family Firm Inc. purchased a new position in Globe Life during the 2nd quarter worth approximately $54,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mary E. Thigpen purchased 3,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were acquired at an average price of $90.20 per share, with a total value of $270,600.00. Following the purchase, the director now directly owns 15,605 shares of the company’s stock, valued at $1,407,571. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 1.51% of the stock is currently owned by company insiders.

Globe Life Stock Performance

Shares of GL stock traded up $0.47 during trading hours on Monday, reaching $110.19. 145,280 shares of the company’s stock were exchanged, compared to its average volume of 1,609,151. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05. The company’s 50 day moving average is $103.87 and its two-hundred day moving average is $90.76. The company has a market cap of $9.92 billion, a P/E ratio of 10.48 and a beta of 0.81. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share (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 analysts’ expectations of $1.45 billion. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. Globe Life’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.61 earnings per share. Equities research analysts anticipate that Globe Life Inc. will post 11.93 EPS for the current fiscal year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, October 4th. This represents a $0.96 annualized dividend and a yield of 0.87%. Globe Life’s payout ratio is currently 9.17%.

Analysts Set New Price Targets

GL has been the topic of a number of research reports. Jefferies Financial Group raised their target price on shares of Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, June 28th. Piper Sandler raised their price objective on shares of Globe Life from $106.00 to $118.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company upped their target price on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. TD Cowen began coverage on Globe Life in a report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price target on the stock. Finally, Evercore ISI upped their price objective 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. Five equities research 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.