Blueshift Asset Management LLC Makes New Investment in Globe Life Inc. (NYSE:GL)

Blueshift Asset Management LLC purchased a new stake in Globe Life Inc. (NYSE:GL) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,510 shares of the company’s stock, valued at approximately $372,000.

Other hedge funds have also bought and sold shares of the company. Savant Capital LLC lifted its position in Globe Life by 951.5% in the 2nd quarter. Savant Capital LLC now owns 75,214 shares of the company’s stock valued at $6,189,000 after purchasing an additional 68,061 shares during the last quarter. Achmea Investment Management B.V. grew its position in Globe Life by 151.4% during the 2nd quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company’s stock worth $2,443,000 after purchasing an additional 17,878 shares in the last quarter. WINTON GROUP Ltd acquired a new position in Globe Life during the second quarter valued at $15,483,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Globe Life by 5.0% in the 1st 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 period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Globe Life by 85.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company’s stock worth $2,095,000 after buying an additional 9,141 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Stock Up 0.2 %

Shares of GL opened at $111.70 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a market cap of $9.38 billion, a P/E ratio of 9.45 and a beta of 0.81. The firm’s 50-day simple moving average is $107.96 and its 200 day simple moving average is $96.22. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00.

Globe Life (NYSE:GL) last posted its quarterly earnings data 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. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the business posted $2.71 earnings per share. Globe Life’s revenue was up 5.1% compared to the same quarter last year. On average, analysts forecast that Globe Life Inc. will post 12.31 earnings per share for the current 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 given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.86%. The ex-dividend date is Monday, January 6th. Globe Life’s dividend payout ratio (DPR) is currently 8.12%.

Analyst Upgrades and Downgrades

GL has been the topic of several recent research reports. TD Cowen began coverage on shares of Globe Life in a research report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price objective on the stock. Morgan Stanley upped 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 boosted their price target on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Truist Financial raised their price objective on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Finally, Piper Sandler boosted their price target on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Five research 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. Based on data from MarketBeat, Globe Life currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.50.

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.