Intech Investment Management LLC Lowers Stock Position in Globe Life Inc. (NYSE:GL)

Intech Investment Management LLC lessened its stake in Globe Life Inc. (NYSE:GL) by 35.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,285 shares of the company’s stock after selling 17,523 shares during the period. Intech Investment Management LLC’s holdings in Globe Life were worth $3,313,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GL. Boston Partners lifted its position in Globe Life by 6.4% in the 1st quarter. Boston Partners now owns 2,092,526 shares of the company’s stock worth $243,200,000 after buying an additional 125,457 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Globe Life by 104.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company’s stock worth $132,577,000 after acquiring an additional 822,638 shares during the last quarter. Millennium Management LLC lifted its holdings 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 acquiring an additional 817,760 shares during the last quarter. Nuance Investments LLC boosted its stake in shares of Globe Life by 155.6% in the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock valued at $120,629,000 after purchasing an additional 693,346 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of Globe Life by 398.7% during 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 purchasing an additional 859,146 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GL shares. Morgan Stanley boosted 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. Wells Fargo & Company upped 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. 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. Piper Sandler boosted their price objective on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Raymond James increased their target price on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 15th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Globe Life currently has a consensus rating of “Moderate Buy” and an average target price of $124.50.

Globe Life Stock Up 1.4 %

GL stock opened at $110.48 on Friday. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The company has a market capitalization of $9.27 billion, a price-to-earnings ratio of 9.35 and a beta of 0.81. The business’s 50 day moving average price is $107.65 and its two-hundred day moving average price is $95.72. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.06 by $0.43. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.71 earnings per share. As a group, analysts forecast that Globe Life Inc. will post 12.31 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 8th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.87%. The ex-dividend date is Monday, January 6th. Globe Life’s payout ratio is currently 8.12%.

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.