3,510 Shares in Globe Life Inc. (NYSE:GL) Bought by Blueshift Asset Management LLC

Blueshift Asset Management LLC acquired a new position in Globe Life Inc. (NYSE:GL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,510 shares of the company’s stock, valued at approximately $372,000.

Other hedge funds have also recently bought and sold shares of the company. D. E. Shaw & Co. Inc. boosted its holdings in shares of Globe Life by 398.7% in the 2nd 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 last quarter. Bank of New York Mellon Corp increased its position in shares of 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 lifted its stake in Globe Life by 177.0% in the 2nd quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock worth $105,303,000 after purchasing an additional 817,760 shares in the last quarter. Nuance Investments LLC raised its position in shares of 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, Pzena Investment Management LLC boosted its position in shares of Globe Life by 146.3% during the 2nd quarter. Pzena Investment Management LLC now owns 930,378 shares of the company’s stock valued at $76,552,000 after acquiring an additional 552,634 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Stock Up 0.2 %

NYSE:GL opened at $111.70 on Friday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The company has a market cap of $9.38 billion, a price-to-earnings ratio of 9.45 and a beta of 0.81. The stock has a fifty day simple moving average of $107.96 and a 200-day simple moving average of $96.22. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.43. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The firm’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 EPS. Analysts anticipate that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 8th will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, January 6th. This represents a $0.96 annualized dividend and a dividend yield of 0.86%. Globe Life’s payout ratio is currently 8.12%.

Analyst Upgrades and Downgrades

GL has been the topic of several research reports. Keefe, Bruyette & Woods lifted their price target on shares of Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Piper Sandler upped their target price on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Truist Financial raised their price objective 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 boosted their target price 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. Finally, Morgan Stanley upped their price target on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Globe Life presently has a consensus rating of “Moderate Buy” and an average price target of $124.50.

Globe Life 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.