Bank of Montreal Can Buys 14,865 Shares of Globe Life Inc. (NYSE:GL)

Bank of Montreal Can raised its position in shares of Globe Life Inc. (NYSE:GL) by 18.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 95,559 shares of the company’s stock after purchasing an additional 14,865 shares during the period. Bank of Montreal Can’s holdings in Globe Life were worth $9,976,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Riverview Trust Co bought a new position in Globe Life during the third quarter worth about $32,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Globe Life by 88.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after buying an additional 281 shares during the period. LRI Investments LLC grew its stake in Globe Life by 898.4% in the 2nd quarter. LRI Investments LLC now owns 619 shares of the company’s stock valued at $51,000 after buying an additional 557 shares in the last quarter. Family Firm Inc. bought a new stake in Globe Life during the 2nd quarter valued at $54,000. Finally, Blue Trust Inc. lifted its position in shares of Globe Life by 249.5% during the second quarter. Blue Trust Inc. now owns 776 shares of the company’s stock worth $64,000 after acquiring an additional 554 shares in the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Price Performance

Shares of Globe Life stock opened at $111.24 on Monday. The firm has a market cap of $9.34 billion, a PE ratio of 9.41 and a beta of 0.81. The company’s fifty day simple moving average is $108.15 and its two-hundred day simple moving average is $96.56. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the business earned $2.71 EPS. Globe Life’s revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts expect that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have commented on GL shares. Truist Financial raised their target price on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. TD Cowen started 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 for the company. 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. Wells Fargo & Company raised their price target 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. Finally, Raymond James increased their price objective 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. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $124.50.

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.