Quarry LP Grows Stock Holdings in Globe Life Inc. (NYSE:GL)

Quarry LP increased its stake in Globe Life Inc. (NYSE:GL) by 47.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 838 shares of the company’s stock after buying an additional 270 shares during the period. Quarry LP’s holdings in Globe Life were worth $69,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GL. NBC Securities Inc. raised its holdings in Globe Life by 2.7% in the first quarter. NBC Securities Inc. now owns 5,803 shares of the company’s stock worth $675,000 after buying an additional 153 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in Globe Life by 0.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock worth $4,082,000 after acquiring an additional 167 shares during the last quarter. Perigon Wealth Management LLC lifted its position in Globe Life by 7.6% in the 1st quarter. Perigon Wealth Management LLC now owns 2,619 shares of the company’s stock valued at $305,000 after acquiring an additional 184 shares in the last quarter. Bruce G. Allen Investments LLC boosted its stake in Globe Life by 33.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 806 shares of the company’s stock valued at $66,000 after purchasing an additional 201 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings 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 in the last quarter. Institutional investors own 81.61% of the company’s stock.

Globe Life Stock Performance

GL opened at $104.85 on Friday. 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 1-year low of $38.95 and a 1-year high of $132.00. The company has a 50 day simple moving average of $99.93 and a two-hundred day simple moving average of $91.47. The firm has a market cap of $9.44 billion, a P/E ratio of 10.01 and a beta of 0.81.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.90 by $0.07. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.61 earnings per share. Equities analysts forecast that Globe Life Inc. will post 11.93 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a $0.24 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.96 annualized dividend and a yield of 0.92%. Globe Life’s payout ratio is 9.17%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GL. Evercore ISI lifted their target price on shares of Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a research report on Wednesday, June 26th. Wells Fargo & Company boosted their price target on Globe Life from $105.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Jefferies Financial Group upped their price target on shares of Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, June 28th. Morgan Stanley boosted their target price on shares of Globe Life from $66.00 to $83.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Finally, Truist Financial increased their price target on shares of Globe Life from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Globe Life has a consensus rating of “Moderate Buy” and an average price target of $109.67.

Insider Buying and Selling at Globe Life

In related news, Director Mary E. Thigpen purchased 3,000 shares of Globe Life stock in a transaction on Friday, July 26th. The shares were bought at an average cost of $90.20 per share, for a total transaction of $270,600.00. Following the acquisition, the director now owns 15,605 shares in the company, valued at approximately $1,407,571. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.51% of the company’s stock.

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.