Raymond James Trust N.A. Purchases 1,554 Shares of Globe Life Inc. (NYSE:GL)

Raymond James Trust N.A. raised its holdings in shares of Globe Life Inc. (NYSE:GL) by 51.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,587 shares of the company’s stock after purchasing an additional 1,554 shares during the quarter. Raymond James Trust N.A.’s holdings in Globe Life were worth $486,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of Globe Life by 7.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 809,623 shares of the company’s stock valued at $85,747,000 after purchasing an additional 56,673 shares during the period. Pzena Investment Management LLC lifted its holdings in shares of Globe Life by 8.4% in the 3rd quarter. Pzena Investment Management LLC now owns 1,008,732 shares of the company’s stock worth $106,835,000 after buying an additional 78,354 shares during the period. Nuance Investments LLC grew its position in shares of Globe Life by 155.6% during the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock worth $120,629,000 after buying an additional 693,346 shares in the last quarter. Segall Bryant & Hamill LLC increased its stake in shares of Globe Life by 78.5% during the third quarter. Segall Bryant & Hamill LLC now owns 290,515 shares of the company’s stock valued at $30,768,000 after buying an additional 127,764 shares during the period. Finally, Cassaday & Co Wealth Management LLC bought a new stake in shares of Globe Life in the third quarter valued at about $254,000. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Stock Up 0.0 %

Shares of GL stock opened at $111.43 on Wednesday. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The stock has a market cap of $9.35 billion, a P/E ratio of 9.43 and a beta of 0.81. The stock has a 50 day moving average of $107.76 and a 200 day moving average of $95.93. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last released its quarterly earnings data 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. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the company earned $2.71 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, sell-side analysts expect that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 8th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.86%. Globe Life’s payout ratio is currently 8.12%.

Analyst Ratings Changes

GL has been the subject of a number of recent research reports. TD Cowen assumed coverage on shares of Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective for the company. Truist Financial upped their price objective on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Morgan Stanley lifted their target price on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. 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 report on Tuesday, October 29th. Finally, 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. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.