Louisiana State Employees Retirement System Purchases 300 Shares of Globe Life Inc. (NYSE:GL)

Louisiana State Employees Retirement System increased its stake in shares of Globe Life Inc. (NYSE:GL) by 6.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,100 shares of the company’s stock after buying an additional 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Globe Life were worth $540,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Riverview Trust Co bought a new stake in Globe Life during the 3rd quarter worth $32,000. Benjamin F. Edwards & Company Inc. grew its position in Globe Life by 88.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after acquiring an additional 281 shares during the last quarter. LRI Investments LLC grew its position in Globe Life by 898.4% during the 2nd quarter. LRI Investments LLC now owns 619 shares of the company’s stock worth $51,000 after acquiring an additional 557 shares during the last quarter. Family Firm Inc. bought a new stake in Globe Life during the 2nd quarter worth $54,000. Finally, Blue Trust Inc. grew its position in Globe Life by 249.5% during the 2nd quarter. Blue Trust Inc. now owns 776 shares of the company’s stock worth $64,000 after acquiring an additional 554 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Stock Performance

Shares of GL opened at $104.38 on Wednesday. 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 stock has a 50 day moving average price of $106.12 and a two-hundred day moving average price of $92.64. The firm has a market capitalization of $9.38 billion, a P/E ratio of 8.83 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 released its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.06 by $0.43. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. Globe Life had a return on equity of 22.58% and a net margin of 19.04%. Globe Life’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.71 earnings per share. Equities analysts forecast that Globe Life Inc. will post 12.32 earnings per share for the current fiscal year.

Globe Life Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have commented on GL shares. Piper Sandler lifted their target price on Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Wells Fargo & Company lifted their target price on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their target price on Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Raymond James boosted their price objective 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. Finally, TD Cowen initiated coverage on Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $124.50.

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.