Globe Life Inc. (NYSE:GL) Stock Holdings Increased by Welch Group LLC

Welch Group LLC raised its position in shares of Globe Life Inc. (NYSE:GL) by 0.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,930 shares of the company’s stock after buying an additional 112 shares during the quarter. Welch Group LLC owned 0.05% of Globe Life worth $5,182,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Riverview Trust Co bought a new stake in shares of Globe Life during the 3rd quarter worth about $32,000. Keener Financial Planning LLC bought a new stake in shares of Globe Life in the 1st quarter worth about $49,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Globe Life by 88.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after purchasing an additional 281 shares in the last quarter. LRI Investments LLC lifted its holdings in Globe Life by 898.4% during 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 last quarter. Finally, Family Firm Inc. acquired a new position in Globe Life in the second quarter valued at about $54,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. TD Cowen initiated coverage on shares of Globe Life in a report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price objective for the company. Morgan Stanley raised their price target on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday. Truist Financial lifted their price objective on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Friday. Raymond James lifted their price objective on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $118.00 target price (up previously from $110.00) on shares of Globe Life in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $123.80.

Globe Life Stock Up 1.7 %

Shares of Globe Life stock traded up $1.74 on Monday, reaching $106.89. 130,217 shares of the company were exchanged, compared to its average volume of 1,590,009. The company has a market capitalization of $9.62 billion, a price-to-earnings ratio of 10.04 and a beta of 0.81. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.31. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The company has a 50-day moving average of $105.37 and a 200 day moving average of $90.67.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.71 earnings per share. On average, equities research analysts forecast that Globe Life Inc. will post 11.93 earnings per share for the current year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Friday, October 4th. Globe Life’s dividend payout ratio is 9.17%.

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.