Quest Partners LLC Acquires 4,175 Shares of Globe Life Inc. (NYSE:GL)

Quest Partners LLC raised its holdings in Globe Life Inc. (NYSE:GL) by 139,166.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 4,178 shares of the company’s stock after buying an additional 4,175 shares during the quarter. Quest Partners LLC’s holdings in Globe Life were worth $442,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in GL. Boston Partners boosted its holdings in Globe Life by 6.4% in the first quarter. Boston Partners now owns 2,092,526 shares of the company’s stock valued at $243,200,000 after acquiring an additional 125,457 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Globe Life by 104.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company’s stock worth $132,577,000 after purchasing an additional 822,638 shares during the period. Millennium Management LLC boosted its stake in shares of Globe Life by 177.0% during the 2nd quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock valued at $105,303,000 after purchasing an additional 817,760 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of Globe Life by 398.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company’s stock valued at $88,420,000 after buying an additional 859,146 shares during the period. Finally, Equity Investment Corp increased its position in shares of Globe Life by 21.9% during the second quarter. Equity Investment Corp now owns 1,036,389 shares of the company’s stock valued at $85,274,000 after buying an additional 185,859 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GL has been the topic of several research reports. Piper Sandler lifted their price objective on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Wells Fargo & Company upped their price target on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Raymond James raised their price objective 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. TD Cowen began coverage on shares of Globe Life in a research report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price on the stock. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Five equities research 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 stock. According to data from MarketBeat, Globe Life presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.50.

Globe Life Stock Performance

Shares of Globe Life stock opened at $110.48 on Friday. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00. The firm’s 50-day moving average is $107.65 and its 200 day moving average is $95.72. The stock has a market cap of $9.27 billion, a price-to-earnings ratio of 9.35 and a beta of 0.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the company posted $2.71 earnings per share. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. Sell-side analysts anticipate that Globe Life Inc. will post 12.31 EPS for the current fiscal year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 8th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s dividend payout ratio is currently 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.