Prospector Partners LLC Has $22.55 Million Position in Globe Life Inc. (NYSE:GL)

Prospector Partners LLC raised its stake in shares of Globe Life Inc. (NYSE:GL) by 0.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,958 shares of the company’s stock after buying an additional 932 shares during the period. Globe Life accounts for approximately 2.4% of Prospector Partners LLC’s portfolio, making the stock its 9th biggest holding. Prospector Partners LLC owned 0.25% of Globe Life worth $22,554,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Savant Capital LLC lifted its stake in shares of Globe Life by 951.5% in the second quarter. Savant Capital LLC now owns 75,214 shares of the company’s stock worth $6,189,000 after buying an additional 68,061 shares during the last quarter. Achmea Investment Management B.V. boosted its holdings in Globe Life by 151.4% during the second quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company’s stock valued at $2,443,000 after acquiring an additional 17,878 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of Globe Life in the second quarter valued at about $15,483,000. Price T Rowe Associates Inc. MD grew its position in shares of Globe Life by 5.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 198,945 shares of the company’s stock valued at $23,153,000 after purchasing an additional 9,497 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Globe Life by 85.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company’s stock worth $2,095,000 after purchasing an additional 9,141 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

Analyst Ratings Changes

GL has been the topic of a number of research analyst reports. Raymond James raised their target price on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th. Keefe, Bruyette & Woods boosted their target price on shares of Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Wells Fargo & Company upped their target price on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Morgan Stanley raised their price target on shares of Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Finally, Piper Sandler upped 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. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $124.50.

Globe Life Price Performance

NYSE:GL opened at $111.41 on Tuesday. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of 9.43 and a beta of 0.81. The company has a 50-day moving average of $107.76 and a 200-day moving average of $95.93. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. 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 announced its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping 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 firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the company earned $2.71 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Globe Life Inc. will post 12.31 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders 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 0.86%. The ex-dividend date of this dividend is Monday, January 6th. 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.