Globe Life Inc. (NYSE:GL) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp lifted its holdings in shares of Globe Life Inc. (NYSE:GL) by 40.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,455 shares of the company’s stock after buying an additional 16,703 shares during the period. Van ECK Associates Corp’s holdings in Globe Life were worth $6,480,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Riverview Trust Co bought a new position in shares of Globe Life in the third quarter worth $32,000. Benjamin F. Edwards & Company Inc. grew its position in Globe Life by 88.4% in 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 acquired a new position in Globe Life during the 1st quarter valued at about $72,000. Family Firm Inc. bought a new stake in shares of Globe Life during the 2nd quarter worth about $54,000. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of Globe Life in the 1st quarter worth approximately $82,000. 81.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Piper Sandler raised their price objective on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods boosted their price objective on Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. 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 note on Tuesday, October 15th. TD Cowen started coverage on Globe Life in a report on Wednesday, October 9th. They set a “buy” rating and a $150.00 target price on the stock. Finally, Morgan Stanley upped their price target on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Globe Life currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.50.

Globe Life Stock Performance

Shares of GL stock opened at $108.60 on Friday. The firm has a market cap of $9.75 billion, a P/E ratio of 9.19 and a beta of 0.81. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The stock’s 50-day moving average is $106.39 and its two-hundred day moving average is $93.14.

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 the consensus estimate of $3.06 by $0.43. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. Globe Life had a net margin of 19.04% and a return on equity of 22.58%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.71 earnings per share. Analysts predict that Globe Life Inc. will post 12.32 earnings per share for the current fiscal year.

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.