Czech National Bank Purchases 2,296 Shares of Globe Life Inc. (NYSE:GL)

Czech National Bank raised its position in shares of Globe Life Inc. (NYSE:GL) by 14.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,297 shares of the company’s stock after acquiring an additional 2,296 shares during the period. Czech National Bank’s holdings in Globe Life were worth $1,938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Keener Financial Planning LLC bought a new stake in Globe Life during the first quarter worth approximately $49,000. Benjamin F. Edwards & Company Inc. raised its holdings in 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 buying an additional 281 shares during the period. LRI Investments LLC purchased a new stake in Globe Life during the 1st quarter valued at $72,000. Family Firm Inc. bought a new stake in Globe Life in the second quarter worth $54,000. Finally, Central Pacific Bank Trust Division purchased a new position in Globe Life during the first quarter worth $82,000. 81.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Mary E. Thigpen acquired 3,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were purchased at an average price of $90.20 per share, with a total value of $270,600.00. Following the transaction, the director now directly owns 15,605 shares in the company, valued at approximately $1,407,571. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.51% of the stock is currently owned by corporate insiders.

Globe Life Trading Up 1.3 %

NYSE GL opened at $107.78 on Friday. The company’s 50-day simple moving average is $101.88 and its two-hundred day simple moving average is $90.94. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The company has a market capitalization of $9.68 billion, a price-to-earnings ratio of 9.75 and a beta of 0.81. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.05 and a current ratio of 0.05.

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

Globe Life Announces Dividend

The business also recently announced 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 0.89%. Globe Life’s dividend payout ratio (DPR) is presently 8.68%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GL shares. Evercore ISI raised their target price on shares of Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a report on Wednesday, June 26th. Truist Financial raised their price objective on shares of Globe Life from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Piper Sandler upped their target price on Globe Life from $106.00 to $118.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company raised 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. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $118.00 price objective (up previously from $110.00) on shares of Globe Life in a research report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.60.

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.