Centiva Capital LP Makes New $376,000 Investment in Globe Life Inc. (NYSE:GL)

Centiva Capital LP acquired a new position in shares of Globe Life Inc. (NYSE:GL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,553 shares of the company’s stock, valued at approximately $376,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Chevy Chase Trust Holdings LLC boosted its position in shares of Globe Life by 5.1% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 48,161 shares of the company’s stock valued at $5,101,000 after purchasing an additional 2,318 shares in the last quarter. Erste Asset Management GmbH acquired a new position in Globe Life during the 3rd quarter worth approximately $282,000. True Wealth Design LLC purchased a new stake in shares of Globe Life in the third quarter worth approximately $59,000. Cobblestone Capital Advisors LLC NY purchased a new stake in shares of Globe Life in the third quarter worth approximately $212,000. Finally, Edgestream Partners L.P. raised its stake in shares of Globe Life by 99.7% in the third quarter. Edgestream Partners L.P. now owns 7,511 shares of the company’s stock worth $795,000 after purchasing an additional 3,749 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Analysts Set New Price Targets

GL has been the subject of a number of research analyst reports. Morgan Stanley increased their price target on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Truist Financial raised their price target on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Wells Fargo & Company raised their price target on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods increased their price objective on Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Finally, Piper Sandler increased their price objective on Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Five research 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $124.50.

Insider Buying and Selling

In other news, CEO Frank M. Svoboda sold 14,340 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the transaction, the chief executive officer now directly owns 16,396 shares in the company, valued at approximately $1,783,884.80. This trade represents a 46.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.51% of the stock is currently owned by corporate insiders.

Globe Life Trading Down 0.6 %

Shares of Globe Life stock opened at $104.18 on Tuesday. The company has a market capitalization of $8.75 billion, a P/E ratio of 8.81 and a beta of 0.81. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The company has a fifty day moving average of $108.09 and a 200 day moving average of $97.58. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.06 by $0.43. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The business’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.71 EPS. On average, sell-side analysts anticipate that Globe Life Inc. will post 12.31 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 8th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Monday, January 6th. Globe Life’s dividend payout ratio (DPR) is currently 8.12%.

About Globe Life

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.