Globe Life Inc. (NYSE:GL) Shares Sold by Centric Wealth Management

Centric Wealth Management lessened its stake in shares of Globe Life Inc. (NYSE:GL) by 73.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,000 shares of the company’s stock after selling 40,456 shares during the quarter. Centric Wealth Management’s holdings in Globe Life were worth $1,665,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GL shares. Piper Sandler increased their price target on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Morgan Stanley raised their price target on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Wells Fargo & Company upped their price target on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods boosted their target price 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, TD Cowen initiated coverage on shares of Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective for the company. Five 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $124.50.

Globe Life Trading Up 0.2 %

Shares of GL opened at $111.70 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a 50 day simple moving average of $107.96 and a 200-day simple moving average of $96.22. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of 9.45 and a beta of 0.81. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00.

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 the consensus estimate 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 the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company posted $2.71 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities analysts forecast that Globe Life Inc. will post 12.31 EPS for the current fiscal year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 8th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend 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%.

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.