Globe Life Inc. (NYSE:GL) Stake Increased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its stake in Globe Life Inc. (NYSE:GL) by 7.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 809,623 shares of the company’s stock after acquiring an additional 56,673 shares during the period. Charles Schwab Investment Management Inc. owned 0.96% of Globe Life worth $85,747,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Riverview Trust Co bought a new stake in shares of Globe Life in the 3rd quarter valued at approximately $32,000. Benjamin F. Edwards & Company Inc. increased its stake in Globe Life by 88.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after purchasing an additional 281 shares during the last quarter. LRI Investments LLC raised its holdings in shares of Globe Life by 898.4% during the second 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. Family Firm Inc. bought a new position in shares of Globe Life in the 2nd quarter worth about $54,000. Finally, Blue Trust Inc. boosted its holdings in shares of Globe Life by 249.5% in the 2nd quarter. Blue Trust Inc. now owns 776 shares of the company’s stock valued at $64,000 after buying an additional 554 shares during the period. 81.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GL has been the subject of a number of recent research reports. Truist Financial boosted their price objective on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research report 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. Keefe, Bruyette & Woods upped their price objective on Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Wells Fargo & Company raised their target price on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley boosted their price target on shares of Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Five investment 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $124.50.

Globe Life Stock Up 0.2 %

Globe Life stock opened at $111.70 on Thursday. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of 9.43 and a beta of 0.81. The company’s 50-day moving average price is $107.86 and its two-hundred day moving average price is $96.11. 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 posted its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 EPS 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 business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business earned $2.71 earnings per share. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts expect that Globe Life Inc. will post 12.31 EPS for the current fiscal year.

Globe Life Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders 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 annualized dividend and a dividend yield of 0.86%. Globe Life’s dividend payout ratio (DPR) is 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.