Raymond James & Associates Has $29.18 Million Stake in Globe Life Inc. (NYSE:GL)

Raymond James & Associates raised its holdings in Globe Life Inc. (NYSE:GL) by 7.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 275,479 shares of the company’s stock after buying an additional 19,604 shares during the period. Raymond James & Associates owned 0.31% of Globe Life worth $29,176,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GL. Wealth Enhancement Advisory Services LLC grew its stake in shares of Globe Life by 10.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,432 shares of the company’s stock valued at $1,098,000 after buying an additional 875 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Globe Life by 1.8% in the 1st quarter. Principal Financial Group Inc. now owns 103,353 shares of the company’s stock valued at $12,027,000 after acquiring an additional 1,823 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Globe Life by 0.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock worth $4,082,000 after purchasing an additional 167 shares during the last quarter. Perigon Wealth Management LLC raised its holdings in shares of 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 purchasing an additional 184 shares during the period. Finally, Centric Wealth Management acquired a new stake in Globe Life in the 1st quarter valued at about $5,012,000. 81.61% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Mary E. Thigpen purchased 3,000 shares of Globe Life stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the transaction, the director now owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.51% of the company’s stock.

Globe Life Stock Down 0.2 %

NYSE GL opened at $110.86 on Thursday. The company has a market cap of $9.98 billion, a price-to-earnings ratio of 10.59 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. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average of $104.60 and a 200-day moving average of $90.63.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. The firm had revenue of $1.44 billion during 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 company’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.61 EPS. On average, equities research analysts expect that Globe Life Inc. will post 11.93 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.87%. The ex-dividend date is Friday, October 4th. Globe Life’s dividend payout ratio is currently 9.17%.

Analyst Ratings Changes

GL has been the topic of a number of recent analyst reports. TD Cowen started coverage on Globe Life in a research report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price target on the stock. Truist Financial increased their price target on Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Raymond James lifted their price objective on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 15th. Morgan Stanley upped their price objective on shares of Globe Life from $66.00 to $83.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Finally, 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 report on Wednesday, June 26th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and an average target price of $117.40.

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.