New York State Teachers Retirement System Buys 2,749 Shares of Globe Life Inc. (NYSE:GL)

New York State Teachers Retirement System increased its holdings in shares of Globe Life Inc. (NYSE:GL) by 2.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 98,618 shares of the company’s stock after purchasing an additional 2,749 shares during the period. New York State Teachers Retirement System’s holdings in Globe Life were worth $10,445,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GL. D. E. Shaw & Co. Inc. grew its stake in Globe Life by 398.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company’s stock valued at $88,420,000 after purchasing an additional 859,146 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Globe Life by 104.3% in the second quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company’s stock worth $132,577,000 after buying an additional 822,638 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Globe Life by 177.0% in the second quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock worth $105,303,000 after buying an additional 817,760 shares during the last quarter. Pzena Investment Management LLC raised its holdings in Globe Life by 146.3% in the 2nd quarter. Pzena Investment Management LLC now owns 930,378 shares of the company’s stock worth $76,552,000 after purchasing an additional 552,634 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Globe Life by 3.9% in the 1st 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 during the period. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GL has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their price target on Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Morgan Stanley raised their target price on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. TD Cowen began coverage on Globe Life in a research report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price on the stock. Truist Financial raised 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. Finally, Raymond James raised their target price on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 15th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and a consensus target price of $124.50.

Globe Life Price Performance

GL stock opened at $104.02 on Monday. The business has a fifty day moving average of $106.10 and a two-hundred day moving average of $92.17. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.31. The stock has a market cap of $9.34 billion, a price-to-earnings ratio of 8.80 and a beta of 0.81. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a return on equity of 22.58% and a net margin of 19.04%. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the firm posted $2.71 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis. As a group, research analysts anticipate that Globe Life Inc. will post 12.32 earnings per share for the current year.

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.96 annualized dividend and a yield of 0.92%. Globe Life’s payout ratio is 8.12%.

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.