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

M&T Bank Corp grew its position in Globe Life Inc. (NYSE:GL) by 13.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,512 shares of the company’s stock after purchasing an additional 2,252 shares during the quarter. M&T Bank Corp’s holdings in Globe Life were worth $1,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of GL. Riverview Trust Co purchased a new stake in shares of Globe Life during the third quarter worth about $32,000. Benjamin F. Edwards & Company Inc. grew its holdings in Globe Life by 88.4% during 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 raised its position in shares of Globe Life by 898.4% during the second quarter. LRI Investments LLC now owns 619 shares of the company’s stock valued at $51,000 after buying an additional 557 shares during the last quarter. Family Firm Inc. purchased a new position in shares of Globe Life in the second quarter worth $54,000. Finally, True Wealth Design LLC bought a new position in shares of Globe Life during the third quarter worth $59,000. 81.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

GL has been the topic of a number of research reports. Piper Sandler lifted their price target on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Wells Fargo & Company boosted their target price on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods raised their price target 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 lifted their price objective 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. Finally, Truist Financial increased their target price on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Five investment 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $127.10.

Globe Life Trading Up 0.9 %

Shares of GL opened at $105.42 on Friday. The company’s fifty day simple moving average is $108.06 and its 200-day simple moving average is $98.10. The company has a market cap of $8.85 billion, a P/E ratio of 8.92 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 0.50. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00.

Globe Life (NYSE:GL) last posted its quarterly earnings data 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. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the company posted $2.71 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, analysts expect that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Dividend Announcement

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

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.