ING Groep NV Lowers Stake in Globe Life Inc. (NYSE:GL)

ING Groep NV lessened its holdings in Globe Life Inc. (NYSE:GL) by 56.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,527 shares of the company’s stock after selling 5,859 shares during the quarter. ING Groep NV’s holdings in Globe Life were worth $479,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of GL. Mitsubishi UFJ Trust & Banking Corp grew its stake in Globe Life by 15.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 73,355 shares of the company’s stock valued at $8,508,000 after acquiring an additional 9,810 shares during the period. Vanguard Group Inc. increased its stake in shares of Globe Life by 3.9% during the first quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock worth $1,309,755,000 after purchasing an additional 425,993 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of Globe Life during the 1st quarter worth about $233,000. UniSuper Management Pty Ltd lifted its stake in Globe Life by 578.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 8,432 shares of the company’s stock valued at $981,000 after buying an additional 7,189 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Globe Life by 308.5% in the 1st quarter. Bessemer Group Inc. now owns 11,827 shares of the company’s stock worth $1,377,000 after buying an additional 8,932 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Stock Up 0.2 %

Shares of NYSE:GL opened at $109.20 on Monday. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of 9.24 and a beta of 0.81. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The business has a 50-day moving average price of $106.97 and a 200 day moving average price of $94.81. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating 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 19.04% and a return on equity of 22.91%. The business’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.71 EPS. Sell-side analysts expect that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 8th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.88%. Globe Life’s dividend payout ratio is currently 8.12%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Piper Sandler raised their target price on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Morgan Stanley raised their price target on shares of Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. 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 research note on Tuesday, October 29th. Raymond James raised their target price 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. Finally, Wells Fargo & Company upped their price target on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and an average target price of $124.50.

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.