Bank of Montreal Can Has $9.98 Million Stock Holdings in Globe Life Inc. (NYSE:GL)

Bank of Montreal Can increased its holdings in shares of Globe Life Inc. (NYSE:GL) by 18.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 95,559 shares of the company’s stock after purchasing an additional 14,865 shares during the period. Bank of Montreal Can owned approximately 0.11% of Globe Life worth $9,976,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GL. Riverview Trust Co bought a new position in shares of Globe Life during the 3rd quarter worth approximately $32,000. Benjamin F. Edwards & Company Inc. boosted its stake in Globe Life by 88.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after acquiring an additional 281 shares in the last quarter. LRI Investments LLC grew its holdings in Globe Life by 898.4% in the second quarter. LRI Investments LLC now owns 619 shares of the company’s stock worth $51,000 after purchasing an additional 557 shares during the period. Family Firm Inc. bought a new stake in Globe Life in the second quarter valued at $54,000. Finally, Blue Trust Inc. increased its stake in Globe Life by 249.5% in the second quarter. Blue Trust Inc. now owns 776 shares of the company’s stock valued at $64,000 after purchasing an additional 554 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on GL shares. Truist Financial raised their target price on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Piper Sandler boosted their price objective on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods upped their target price on Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Raymond James lifted their price target 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. Finally, TD Cowen started coverage on shares of Globe Life in a report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price objective on the stock. 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $124.50.

Globe Life Stock Down 0.4 %

GL opened at $111.24 on Monday. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The firm has a market capitalization of $9.34 billion, a P/E ratio of 9.41 and a beta of 0.81. The company’s 50-day moving average is $108.15 and its 200 day moving average is $96.56. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05.

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

Globe Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 8th will be paid a $0.24 dividend. The ex-dividend date is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.86%. Globe Life’s dividend payout ratio (DPR) is presently 8.12%.

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.