Allspring Global Investments Holdings LLC Has $477,000 Position in Globe Life Inc. (NYSE:GL)

Allspring Global Investments Holdings LLC reduced its stake in shares of Globe Life Inc. (NYSE:GL) by 36.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,505 shares of the company’s stock after selling 2,577 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Globe Life were worth $477,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GL. DMC Group LLC bought a new stake in Globe Life during the third quarter valued at about $233,000. Raymond James & Associates raised its position in shares of Globe Life by 7.7% during the third quarter. Raymond James & Associates now owns 275,479 shares of the company’s stock valued at $29,176,000 after buying an additional 19,604 shares during the last quarter. Friedenthal Financial acquired a new position in shares of Globe Life during the third quarter valued at about $742,000. Blue Trust Inc. raised its position in Globe Life by 29.6% in the third quarter. Blue Trust Inc. now owns 1,006 shares of the company’s stock worth $107,000 after purchasing an additional 230 shares in the last quarter. Finally, Riverview Trust Co acquired a new position in Globe Life in the third quarter worth about $32,000. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. TD Cowen started coverage on shares of Globe Life in a research report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price target for the company. 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. Truist Financial upped their price objective on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Wells Fargo & Company upped their price objective on shares of Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods increased 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. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $124.50.

Globe Life Trading Down 1.5 %

Shares of NYSE:GL opened at $104.02 on Friday. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.31. The company’s fifty day simple moving average is $106.10 and its 200 day simple moving average is $91.94. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of 8.80 and a beta of 0.81.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.58%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period last year, the business posted $2.71 earnings per share. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, research analysts forecast that Globe Life Inc. will post 12.32 EPS for the current fiscal year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.96 annualized dividend and a yield of 0.92%. Globe Life’s payout ratio is currently 8.12%.

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.