Welch Group LLC Acquires 112 Shares of Globe Life Inc. (NYSE:GL)

Welch Group LLC raised its stake in Globe Life Inc. (NYSE:GL) by 0.2% in the third quarter, Holdings Channel reports. The fund owned 48,930 shares of the company’s stock after purchasing an additional 112 shares during the quarter. Welch Group LLC’s holdings in Globe Life were worth $5,182,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB lifted its stake in shares of Globe Life by 10,526.9% in the 1st quarter. Nordea Investment Management AB now owns 998,717 shares of the company’s stock valued at $116,061,000 after acquiring an additional 989,319 shares during the last quarter. D. E. Shaw & Co. Inc. raised its holdings in Globe Life by 398.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company’s stock valued at $88,420,000 after buying an additional 859,146 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Globe Life by 104.3% in the second quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company’s stock valued at $132,577,000 after purchasing an additional 822,638 shares during the period. Millennium Management LLC lifted its position in shares of Globe Life by 177.0% in the 2nd quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock worth $105,303,000 after purchasing an additional 817,760 shares during the period. Finally, Pzena Investment Management LLC boosted its stake in shares of Globe Life by 146.3% in the 2nd quarter. Pzena Investment Management LLC now owns 930,378 shares of the company’s stock valued at $76,552,000 after purchasing an additional 552,634 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Price Performance

Shares of GL traded up $1.74 during midday trading on Monday, hitting $106.89. 130,217 shares of the company traded hands, compared to its average volume of 1,590,009. The stock has a 50-day moving average of $105.37 and a 200-day moving average of $90.67. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The firm has a market cap of $9.62 billion, a P/E ratio of 10.04 and a beta of 0.81.

Globe Life (NYSE:GL) last announced 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. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the firm posted $2.71 earnings per share. Globe Life’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts predict that Globe Life Inc. will post 11.93 EPS for the current fiscal year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a yield of 0.90%. Globe Life’s payout ratio is 9.17%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GL shares. TD Cowen began coverage on Globe Life in a research report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective for the company. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $118.00 price target (up from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Wells Fargo & Company boosted their price objective on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Raymond James upped their price target on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Truist Financial raised their price objective on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and a consensus price target of $123.80.

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.