Quantbot Technologies LP Trims Stock Holdings in Globe Life Inc. (NYSE:GL)

Quantbot Technologies LP lowered its holdings in shares of Globe Life Inc. (NYSE:GL) by 86.7% in the third quarter, Holdings Channel.com reports. The fund owned 9,198 shares of the company’s stock after selling 59,747 shares during the quarter. Quantbot Technologies LP’s holdings in Globe Life were worth $974,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Riverview Trust Co bought a new stake in shares of Globe Life during the third quarter worth $32,000. Benjamin F. Edwards & Company Inc. increased its stake in Globe Life by 88.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after buying an additional 281 shares during the period. LRI Investments LLC lifted its holdings in 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 during the 2nd quarter valued at about $54,000. Finally, Blue Trust Inc. boosted its position in Globe Life by 249.5% in the 2nd quarter. Blue Trust Inc. now owns 776 shares of the company’s stock valued at $64,000 after buying an additional 554 shares during the period. Institutional investors own 81.61% of the company’s stock.

Globe Life Stock Performance

GL stock opened at $111.24 on Monday. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of 9.41 and a beta of 0.81. 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 firm has a 50-day simple moving average of $108.15 and a two-hundred day simple moving average of $96.56.

Globe Life (NYSE:GL) last posted its 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 company had revenue of $1.46 billion during 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. Globe Life’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities analysts forecast that Globe Life Inc. will post 12.31 EPS for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 8th will be paid a dividend of $0.24 per share. The ex-dividend date 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 8.12%.

Analysts Set New Price Targets

GL has been the subject of several research analyst reports. 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 note on Tuesday, October 29th. Truist Financial upped their target price on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Raymond James raised their price target 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. Morgan Stanley upped their price objective on shares of Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Finally, TD Cowen assumed coverage on shares of Globe Life in a research report on Wednesday, October 9th. They set a “buy” rating and a $150.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $124.50.

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.