US Bancorp DE Has $3.89 Million Holdings in Globe Life Inc. (NYSE:GL)

US Bancorp DE lifted its holdings in Globe Life Inc. (NYSE:GL) by 1.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,735 shares of the company’s stock after acquiring an additional 470 shares during the quarter. US Bancorp DE’s holdings in Globe Life were worth $3,891,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of GL. Riverview Trust Co bought a new position in Globe Life in the 3rd quarter worth approximately $32,000. Keener Financial Planning LLC bought a new stake in shares of Globe Life in the 1st quarter valued at $49,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Globe Life by 88.4% in 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 in the last quarter. LRI Investments LLC boosted its stake in Globe Life by 898.4% in the 2nd quarter. LRI Investments LLC now owns 619 shares of the company’s stock worth $51,000 after purchasing an additional 557 shares during the period. Finally, Family Firm Inc. acquired a new position in Globe Life in the 2nd quarter worth $54,000. Institutional investors own 81.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GL. Keefe, Bruyette & Woods upped their target price on shares of Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Raymond James increased 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 note on Tuesday, October 15th. Truist Financial increased 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. Piper Sandler upped their target price on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company upped their target price on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $124.50.

Globe Life Stock Performance

Shares of Globe Life stock opened at $103.49 on Tuesday. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market capitalization of $9.30 billion, a P/E ratio of 8.76 and a beta of 0.81. The company’s 50 day moving average price is $106.10 and its two-hundred day moving average price is $92.37.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43. The firm 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 quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $2.71 earnings per share. On average, equities analysts forecast that Globe Life Inc. will post 12.32 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend was Friday, October 4th. Globe Life’s dividend payout ratio is presently 8.12%.

Globe Life 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.