Private Trust Co. NA Buys 270 Shares of Globe Life Inc. (NYSE:GL)

Private Trust Co. NA increased its stake in shares of Globe Life Inc. (NYSE:GL) by 67.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 670 shares of the company’s stock after buying an additional 270 shares during the quarter. Private Trust Co. NA’s holdings in Globe Life were worth $71,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Daiwa Securities Group Inc. grew its position in Globe Life by 1.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 49,166 shares of the company’s stock worth $5,207,000 after purchasing an additional 919 shares in the last quarter. Algert Global LLC boosted its stake in shares of Globe Life by 29.4% in the 3rd quarter. Algert Global LLC now owns 105,053 shares of the company’s stock worth $11,126,000 after buying an additional 23,887 shares during the last quarter. Cerity Partners LLC increased its position in shares of Globe Life by 283.7% during the third quarter. Cerity Partners LLC now owns 34,540 shares of the company’s stock valued at $3,658,000 after acquiring an additional 25,539 shares during the last quarter. Raymond James Trust N.A. lifted its holdings in Globe Life by 51.2% during the third quarter. Raymond James Trust N.A. now owns 4,587 shares of the company’s stock worth $486,000 after acquiring an additional 1,554 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Globe Life by 7.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 809,623 shares of the company’s stock worth $85,747,000 after purchasing an additional 56,673 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wells Fargo & Company lifted their target price on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Raymond James increased their target price on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods lifted their price target on shares of Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Truist Financial increased their price objective on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a report on Friday, October 25th. Finally, TD Cowen began coverage on Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price on the stock. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $124.50.

Globe Life Stock Performance

Shares of GL opened at $111.24 on Friday. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. The stock’s 50-day simple moving average is $108.15 and its 200 day simple moving average is $96.51. 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 stock has a market capitalization of $9.34 billion, a price-to-earnings ratio of 9.41 and a beta of 0.81.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.71 earnings per share. Research analysts forecast that Globe Life Inc. will post 12.31 EPS for the current fiscal year.

Globe Life Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 0.86%. Globe Life’s dividend payout ratio (DPR) is currently 8.12%.

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.