Mirae Asset Global Investments Co. Ltd. Purchases 2,758 Shares of Globe Life Inc. (NYSE:GL)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Globe Life Inc. (NYSE:GL) by 74.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,441 shares of the company’s stock after purchasing an additional 2,758 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Globe Life were worth $672,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Globe Life by 3.9% during the first quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock worth $1,309,755,000 after purchasing an additional 425,993 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Globe Life by 7.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,607 shares of the company’s stock worth $11,824,000 after buying an additional 7,100 shares during the period. Savant Capital LLC boosted its stake in Globe Life by 951.5% in the 2nd quarter. Savant Capital LLC now owns 75,214 shares of the company’s stock valued at $6,189,000 after buying an additional 68,061 shares in the last quarter. Achmea Investment Management B.V. grew its position in Globe Life by 151.4% in the second quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company’s stock valued at $2,443,000 after acquiring an additional 17,878 shares during the period. Finally, Bessemer Group Inc. raised its stake in Globe Life by 308.5% during the first quarter. Bessemer Group Inc. now owns 11,827 shares of the company’s stock worth $1,377,000 after acquiring an additional 8,932 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Price Performance

Globe Life stock opened at $104.02 on Friday. The business’s 50-day simple moving average is $106.10 and its 200 day simple moving average is $91.94. 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 stock has a market cap of $9.34 billion, a price-to-earnings ratio of 8.80 and a beta of 0.81. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00.

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

Globe Life Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GL shares. Piper Sandler upped their target price on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. TD Cowen assumed coverage on shares of Globe Life in a research note on Wednesday, October 9th. They set a “buy” rating and a $150.00 price objective on the stock. Truist Financial lifted their target price on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Raymond James increased their price target on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company lifted their price objective on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Globe Life currently has an average rating of “Moderate Buy” and an average price target of $124.50.

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.