Bank of Montreal Can Purchases New Position in Globe Life Inc. (NYSE:GL)

Bank of Montreal Can acquired a new stake in Globe Life Inc. (NYSE:GL) in the second quarter, according to its most recent filing with the SEC. The fund acquired 80,694 shares of the company’s stock, valued at approximately $6,752,000. Bank of Montreal Can owned approximately 0.09% of Globe Life at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. NBC Securities Inc. grew its stake in Globe Life by 2.7% during the first quarter. NBC Securities Inc. now owns 5,803 shares of the company’s stock valued at $675,000 after acquiring an additional 153 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Globe Life by 0.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock valued at $4,082,000 after purchasing an additional 167 shares during the period. Perigon Wealth Management LLC grew its position in shares of Globe Life by 7.6% during the 1st quarter. Perigon Wealth Management LLC now owns 2,619 shares of the company’s stock valued at $305,000 after purchasing an additional 184 shares in the last quarter. Bruce G. Allen Investments LLC increased its holdings in shares of Globe Life by 33.2% in the second quarter. Bruce G. Allen Investments LLC now owns 806 shares of the company’s stock worth $66,000 after purchasing an additional 201 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of Globe Life by 88.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after buying an additional 281 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.

Insider Buying and Selling

In other news, Director Mary E. Thigpen purchased 3,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was acquired at an average price of $90.20 per share, with a total value of $270,600.00. Following the transaction, the director now directly owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.51% of the stock is owned by insiders.

Globe Life Price Performance

GL stock opened at $105.91 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a market cap of $9.54 billion, a P/E ratio of 10.12 and a beta of 0.81. The firm’s fifty day moving average is $99.31 and its 200 day moving average is $91.46. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.90 by $0.07. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.61 earnings per share. Research analysts predict that Globe Life Inc. will post 11.93 earnings per share for the current year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Friday, October 4th. Globe Life’s dividend payout ratio is 9.17%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GL shares. Wells Fargo & Company boosted their target price on Globe Life from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Morgan Stanley upped their price objective on shares of Globe Life from $66.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Evercore ISI lifted their target price on shares of Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a research report on Wednesday, June 26th. Jefferies Financial Group boosted their price target on shares of Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, June 28th. Finally, Piper Sandler raised their price objective on shares of Globe Life from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Globe Life currently has an average rating of “Moderate Buy” and a consensus target price of $108.33.

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.