MetLife Investment Management LLC Grows Stock Position in Globe Life Inc. (NYSE:GL)

MetLife Investment Management LLC raised its holdings in Globe Life Inc. (NYSE:GL) by 3.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 23,334 shares of the company’s stock after acquiring an additional 785 shares during the quarter. MetLife Investment Management LLC’s holdings in Globe Life were worth $2,471,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new position in shares of Globe Life in the third quarter worth about $32,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Globe Life by 88.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after purchasing an additional 281 shares during the last quarter. LRI Investments LLC raised its stake in shares of Globe Life by 898.4% in the second quarter. LRI Investments LLC now owns 619 shares of the company’s stock worth $51,000 after purchasing an additional 557 shares during the last quarter. Family Firm Inc. purchased a new position in shares of Globe Life in the second quarter worth about $54,000. Finally, Blue Trust Inc. raised its stake in shares of Globe Life by 249.5% in the second quarter. Blue Trust Inc. now owns 776 shares of the company’s stock worth $64,000 after purchasing an additional 554 shares during the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Stock Performance

Shares of NYSE:GL opened at $106.05 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The business’s 50 day moving average price is $108.23 and its 200-day moving average price is $96.97. The firm has a market capitalization of $8.90 billion, a PE ratio of 8.97 and a beta of 0.81. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00.

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 return on equity of 22.91% and a net margin of 19.04%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the business earned $2.71 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities research analysts expect that Globe Life Inc. will post 12.31 earnings per share 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. Shareholders of record on Wednesday, January 8th will be given a $0.24 dividend. The ex-dividend date is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.91%. Globe Life’s dividend payout ratio is currently 8.12%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. TD Cowen assumed coverage on Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective for the company. Raymond James lifted their price target 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. Morgan Stanley lifted their price target on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Piper Sandler lifted their price target on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods lifted their price target on Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.50.

Insider Buying and Selling at Globe Life

In related news, CEO Frank M. Svoboda sold 14,340 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the sale, the chief executive officer now owns 16,396 shares in the company, valued at approximately $1,783,884.80. The trade was a 46.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.51% of the company’s stock.

Globe Life 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.