Private Trust Co. NA Increases Stock Position in Globe Life Inc. (NYSE:GL)

Private Trust Co. NA grew its stake in Globe Life Inc. (NYSE:GL) by 67.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 670 shares of the company’s stock after buying an additional 270 shares during the period. Private Trust Co. NA’s holdings in Globe Life were worth $71,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GL. Riverview Trust Co purchased a new position in Globe Life in the third quarter worth $32,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Globe Life by 88.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after purchasing an additional 281 shares during the last quarter. LRI Investments LLC raised its holdings in shares of Globe Life by 898.4% during the 2nd quarter. LRI Investments LLC now owns 619 shares of the company’s stock valued at $51,000 after buying an additional 557 shares in the last quarter. Family Firm Inc. bought a new stake in Globe Life in the 2nd quarter worth approximately $54,000. Finally, Blue Trust Inc. grew its position in Globe Life by 249.5% during the second quarter. Blue Trust Inc. now owns 776 shares of the company’s stock valued at $64,000 after acquiring an additional 554 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Globe Life Price Performance

GL opened at $111.24 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a market capitalization of $9.34 billion, a PE ratio of 9.41 and a beta of 0.81. The stock’s 50 day moving average price is $108.15 and its 200-day moving average price is $96.51. 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 (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 business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the firm earned $2.71 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts predict that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 8th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 annualized dividend and a yield of 0.86%. Globe Life’s dividend payout ratio (DPR) is presently 8.12%.

Analysts Set New Price Targets

GL has been the subject of a number of research reports. Truist Financial upped their price objective on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, October 25th. 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 note on Tuesday, October 15th. Keefe, Bruyette & Woods boosted their target price on Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Morgan Stanley increased their target price on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Finally, Piper Sandler lifted their price target on Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Five 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 MarketBeat, Globe Life has an average rating of “Moderate Buy” and an average 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.