Geode Capital Management LLC lifted its stake in Globe Life Inc. (NYSE:GL - Free Report) by 3.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,618,764 shares of the company's stock after acquiring an additional 89,299 shares during the period. Geode Capital Management LLC owned approximately 3.12% of Globe Life worth $276,994,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Savant Capital LLC raised its holdings in Globe Life by 951.5% in the 2nd quarter. Savant Capital LLC now owns 75,214 shares of the company's stock valued at $6,189,000 after acquiring an additional 68,061 shares in the last quarter. Achmea Investment Management B.V. lifted its position in Globe Life by 151.4% in the second quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company's stock worth $2,443,000 after purchasing an additional 17,878 shares during the period. WINTON GROUP Ltd acquired a new stake in Globe Life during the second quarter worth $15,483,000. State Street Corp boosted its stake in Globe Life by 3.4% during the third quarter. State Street Corp now owns 3,545,272 shares of the company's stock worth $375,480,000 after buying an additional 115,432 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Globe Life by 85.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company's stock valued at $2,095,000 after buying an additional 9,141 shares in the last quarter. Institutional investors own 81.61% of the company's stock.
Shares of NYSE GL opened at $105.42 on Friday. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The firm's 50-day simple moving average is $108.06 and its 200 day simple moving average is $98.10. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The company has a market cap of $8.85 billion, a price-to-earnings ratio of 8.92 and a beta of 0.81.
Globe Life (NYSE:GL - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, topping 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 net margin of 19.04% and a return on equity of 22.91%. Globe Life's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.71 earnings per share. On average, research analysts expect that Globe Life Inc. will post 12.31 earnings per share for the current fiscal year.
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 paid a $0.24 dividend. The ex-dividend date is Monday, January 6th. This represents a $0.96 annualized dividend and a dividend yield of 0.91%. Globe Life's dividend payout ratio (DPR) is currently 8.12%.
In other news, CEO Frank M. Svoboda sold 14,340 shares of Globe Life stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the completion of the sale, the chief executive officer now owns 16,396 shares in the company, valued at $1,783,884.80. The trade was a 46.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.51% of the stock is currently owned by corporate insiders.
Several brokerages have recently weighed in on GL. Truist Financial lifted their target price on shares of Globe Life from $90.00 to $105.00 and gave the company a "hold" rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods lifted their price objective on Globe Life from $120.00 to $125.00 and gave the company an "outperform" rating in a report on Tuesday, October 29th. Morgan Stanley increased their target price on Globe Life from $110.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, October 24th. Raymond James boosted their price target on Globe Life from $160.00 to $188.00 and gave the company a "strong-buy" rating in a research note on Tuesday, October 15th. Finally, Piper Sandler increased 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. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Globe Life has an average rating of "Moderate Buy" and an average price target of $127.10.
Get Our Latest Report on 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.
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