Aigen Investment Management LP Takes Position in Globe Life Inc. (NYSE:GL)

Aigen Investment Management LP bought a new stake in shares of Globe Life Inc. (NYSE:GL) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 7,080 shares of the company’s stock, valued at approximately $750,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GL. Empowered Funds LLC boosted its stake in shares of Globe Life by 22.5% during the 1st quarter. Empowered Funds LLC now owns 7,327 shares of the company’s stock valued at $853,000 after buying an additional 1,346 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of Globe Life by 69.7% during the 1st quarter. QRG Capital Management Inc. now owns 2,867 shares of the company’s stock valued at $334,000 after buying an additional 1,178 shares during the last quarter. ProShare Advisors LLC lifted its stake in Globe Life by 2.3% during the first quarter. ProShare Advisors LLC now owns 18,096 shares of the company’s stock worth $2,106,000 after purchasing an additional 413 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Globe Life by 35.3% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 193,173 shares of the company’s stock worth $22,480,000 after purchasing an additional 50,409 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in Globe Life by 12.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 114,353 shares of the company’s stock worth $12,581,000 after purchasing an additional 12,449 shares during the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GL shares. Piper Sandler raised their price objective on Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Truist Financial raised their price objective on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Raymond James raised their price objective on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 15th. TD Cowen started coverage on Globe Life in a research note on Wednesday, October 9th. They set a “buy” rating and a $150.00 price objective on the stock. Finally, Wells Fargo & Company raised their price objective on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $124.50.

Globe Life Price Performance

Shares of NYSE GL opened at $110.07 on Thursday. 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. The business’s fifty day moving average price is $106.75 and its two-hundred day moving average price is $94.26. The firm has a market capitalization of $9.24 billion, a PE ratio of 9.31 and a beta of 0.81.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $2.71 earnings per share. On average, research analysts expect that Globe Life Inc. will post 12.32 EPS for the current year.

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.