ING Groep NV Sells 5,859 Shares of Globe Life Inc. (NYSE:GL)

ING Groep NV lessened its holdings in Globe Life Inc. (NYSE:GL) by 56.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,527 shares of the company’s stock after selling 5,859 shares during the period. ING Groep NV’s holdings in Globe Life were worth $479,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Riverview Trust Co bought a new stake in Globe Life during the 3rd quarter valued at $32,000. Benjamin F. Edwards & Company Inc. boosted its position in 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 in the last quarter. LRI Investments LLC grew its stake in 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 purchasing an additional 557 shares during the last quarter. Family Firm Inc. bought a new position in Globe Life in the second quarter worth about $54,000. Finally, Blue Trust Inc. lifted its position in shares of Globe Life by 249.5% during the second quarter. Blue Trust Inc. now owns 776 shares of the company’s stock valued at $64,000 after buying an additional 554 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors.

Globe Life Stock Performance

GL opened at $109.20 on Monday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The firm has a 50 day moving average of $106.97 and a two-hundred day moving average of $94.81. The firm has a market capitalization of $9.17 billion, a PE ratio of 9.24 and a beta of 0.81.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $1.46 billion. During the same quarter last year, the company posted $2.71 earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. On average, analysts anticipate that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 8th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.88%. Globe Life’s dividend payout ratio is currently 8.12%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GL. Wells Fargo & Company lifted their price objective on shares of Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. TD Cowen initiated coverage on Globe Life in a report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price objective for the company. Raymond James raised their price objective on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 15th. Morgan Stanley increased their price target 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. Finally, Truist Financial raised their price target on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Globe Life has a consensus 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.