Globe Life Inc. (NYSE:GL) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC decreased its position in shares of Globe Life Inc. (NYSE:GL) by 1.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 24,492 shares of the company’s stock after selling 289 shares during the quarter. Pathstone Holdings LLC’s holdings in Globe Life were worth $2,594,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in GL. UMB Bank n.a. increased its holdings in shares of Globe Life by 7.7% during the 3rd quarter. UMB Bank n.a. now owns 1,357 shares of the company’s stock worth $144,000 after buying an additional 97 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Globe Life by 4.0% during the third quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company’s stock worth $373,000 after acquiring an additional 136 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Globe Life by 4.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,607 shares of the company’s stock worth $382,000 after purchasing an additional 166 shares during the period. TrueWealth Advisors LLC lifted its stake in shares of Globe Life by 1.3% in the 3rd quarter. TrueWealth Advisors LLC now owns 13,141 shares of the company’s stock valued at $1,392,000 after purchasing an additional 170 shares in the last quarter. Finally, Ballentine Partners LLC grew its holdings in shares of Globe Life by 7.7% during the 3rd quarter. Ballentine Partners LLC now owns 2,682 shares of the company’s stock worth $284,000 after purchasing an additional 191 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Stock Performance

Shares of GL opened at $111.41 on Tuesday. The firm has a market cap of $9.35 billion, a price-to-earnings ratio of 9.43 and a beta of 0.81. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The business’s 50 day moving average is $107.76 and its two-hundred day moving average is $95.93. 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 results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.06 by $0.43. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.71 earnings per share. Analysts forecast that Globe Life Inc. will post 12.31 EPS for the current fiscal year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 8th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, January 6th. This represents a $0.96 annualized dividend and a dividend yield of 0.86%. Globe Life’s payout ratio is 8.12%.

Analyst Ratings Changes

Several equities research analysts have issued reports on GL shares. Morgan Stanley boosted their price objective on shares of Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Piper Sandler increased their price target on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Truist Financial boosted 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. Wells Fargo & Company increased their target price on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods raised their target price on Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Globe Life presently has a consensus rating of “Moderate Buy” and an average target price 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.