Globe Life Inc. (NYSE:GL) Stock Holdings Lifted by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lifted its position in Globe Life Inc. (NYSE:GL) by 19.6% in the 3rd quarter, Holdings Channel reports. The fund owned 141,543 shares of the company’s stock after buying an additional 23,148 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Globe Life were worth $14,610,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Globe Life by 3.9% in the first quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock worth $1,309,755,000 after buying an additional 425,993 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Globe Life by 7.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,607 shares of the company’s stock worth $11,824,000 after acquiring an additional 7,100 shares during the period. Savant Capital LLC boosted its position in Globe Life by 951.5% during the 2nd quarter. Savant Capital LLC now owns 75,214 shares of the company’s stock worth $6,189,000 after acquiring an additional 68,061 shares during the period. Achmea Investment Management B.V. grew its stake in Globe Life by 151.4% during the 2nd quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company’s stock valued at $2,443,000 after acquiring an additional 17,878 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of Globe Life by 308.5% in the 1st quarter. Bessemer Group Inc. now owns 11,827 shares of the company’s stock valued at $1,377,000 after purchasing an additional 8,932 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Price Performance

NYSE GL opened at $106.92 on Wednesday. The company has a market cap of $9.63 billion, a P/E ratio of 10.21 and a beta of 0.81. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.31. The company has a fifty day simple moving average of $105.71 and a 200 day simple moving average of $91.40.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.43. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the company earned $2.71 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, sell-side analysts predict that Globe Life Inc. will post 11.93 EPS for the current year.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.96 annualized dividend and a dividend yield of 0.90%. Globe Life’s payout ratio is 9.17%.

Wall Street Analyst Weigh In

GL has been the subject of several research reports. TD Cowen started coverage on shares of Globe Life in a report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price target for the company. Keefe, Bruyette & Woods lifted their target price on shares of Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday. Truist Financial boosted their price target on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a report on Friday, October 25th. Morgan Stanley increased their price objective on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Finally, Raymond James boosted their target price 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. Five 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.