Algert Global LLC Raises Holdings in Globe Life Inc. (NYSE:GL)

Algert Global LLC increased its position in shares of Globe Life Inc. (NYSE:GL) by 29.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,053 shares of the company’s stock after buying an additional 23,887 shares during the period. Algert Global LLC owned about 0.13% of Globe Life worth $11,126,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Boston Partners increased its position in Globe Life by 6.4% during the 1st quarter. Boston Partners now owns 2,092,526 shares of the company’s stock valued at $243,200,000 after purchasing an additional 125,457 shares during the period. Bank of New York Mellon Corp increased its holdings in Globe Life by 104.3% during the second quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company’s stock valued at $132,577,000 after buying an additional 822,638 shares during the period. Millennium Management LLC raised its stake in Globe Life by 177.0% in the second quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock worth $105,303,000 after buying an additional 817,760 shares in the last quarter. Nuance Investments LLC raised its stake in Globe Life by 155.6% in the third quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock worth $120,629,000 after buying an additional 693,346 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its holdings in Globe Life by 398.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company’s stock worth $88,420,000 after buying an additional 859,146 shares during the period. 81.61% of the stock is currently owned by institutional investors.

Globe Life Price Performance

NYSE GL opened at $110.48 on Friday. The company has a market cap of $9.27 billion, a price-to-earnings ratio of 9.35 and a beta of 0.81. 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 stock’s fifty day moving average price is $107.65 and its 200 day moving average price is $95.65. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the company earned $2.71 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts forecast that Globe Life Inc. will post 12.31 earnings per share for the current year.

Globe Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 8th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s payout ratio is 8.12%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GL. Raymond James lifted their price target on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th. Truist Financial boosted their target price on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Wells Fargo & Company raised their price target 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 shares of Globe Life in a research note on Wednesday, October 9th. They set a “buy” rating and a $150.00 price objective for the company. Finally, Morgan Stanley raised their target price on shares of Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Globe Life currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.50.

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.