Globe Life Inc. (NYSE:GL) Holdings Lowered by Eads & Heald Wealth Management

Eads & Heald Wealth Management trimmed its stake in shares of Globe Life Inc. (NYSE:GL) by 11.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,093 shares of the company’s stock after selling 928 shares during the period. Eads & Heald Wealth Management’s holdings in Globe Life were worth $751,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Riverview Trust Co purchased a new stake in shares of Globe Life during the third quarter valued at $32,000. Keener Financial Planning LLC purchased a new stake in shares of Globe Life during the first quarter valued at $49,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Globe Life by 88.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after purchasing an additional 281 shares during the last quarter. LRI Investments LLC purchased a new stake in shares of Globe Life during the first quarter valued at $72,000. Finally, Family Firm Inc. purchased a new stake in shares of Globe Life during the second quarter valued at $54,000. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Stock Down 1.5 %

GL opened at $104.02 on Friday. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The business has a 50-day moving average of $106.10 and a 200-day moving average of $91.94. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05. The company has a market capitalization of $9.34 billion, a PE ratio of 8.80 and a beta of 0.81.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a return on equity of 22.58% and a net margin of 19.04%. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the business earned $2.71 EPS. The business’s quarterly revenue was up 5.1% on a year-over-year basis. Equities research analysts forecast that Globe Life Inc. will post 12.32 EPS for the current fiscal year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Friday, October 4th. Globe Life’s dividend payout ratio is 8.12%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GL. Keefe, Bruyette & Woods upped their target price on Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday. Wells Fargo & Company increased their price objective on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Morgan Stanley increased their price objective on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Truist Financial increased their price objective on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Finally, TD Cowen started coverage on 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 research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $124.50.

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.