M&T Bank Corp Acquires 2,252 Shares of Globe Life Inc. (NYSE:GL)

M&T Bank Corp raised its holdings in shares of Globe Life Inc. (NYSE:GL) by 13.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 18,512 shares of the company’s stock after purchasing an additional 2,252 shares during the period. M&T Bank Corp’s holdings in Globe Life were worth $1,961,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Riverview Trust Co purchased a new stake in shares of Globe Life during the 3rd quarter worth $32,000. Benjamin F. Edwards & Company Inc. boosted 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 buying an additional 281 shares in the last quarter. LRI Investments LLC grew 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 worth $51,000 after buying an additional 557 shares during the last quarter. Family Firm Inc. bought a new position in shares of Globe Life during the 2nd quarter worth approximately $54,000. Finally, True Wealth Design LLC purchased a new stake in Globe Life during the third quarter valued at approximately $59,000. Institutional investors own 81.61% of the company’s stock.

Globe Life Trading Up 0.9 %

NYSE GL opened at $105.42 on Friday. The company has a fifty day moving average of $108.06 and a 200 day moving average of $98.10. The company has a market capitalization of $8.85 billion, a PE ratio of 8.92 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. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. The firm 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 company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.71 earnings per share. Research analysts forecast that Globe Life Inc. will post 12.31 earnings per share for the current year.

Globe Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Monday, January 6th. Globe Life’s dividend payout ratio (DPR) is 8.12%.

Insider Activity at Globe Life

In other news, CEO Frank M. Svoboda sold 14,340 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the sale, the chief executive officer now directly owns 16,396 shares in the company, valued at $1,783,884.80. This trade represents a 46.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.51% of the company’s stock.

Analysts Set New Price Targets

GL has been the topic of a number of recent analyst reports. Truist Financial upped their price target on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods upped their price objective on shares of Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. TD Cowen assumed coverage on shares of Globe Life in a research report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective for the company. Jefferies Financial Group boosted their target price on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Finally, Raymond James lifted their price objective on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 15th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.10.

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.