KBC Group NV Reduces Stake in Globe Life Inc. (NYSE:GL)

KBC Group NV cut its stake in shares of Globe Life Inc. (NYSE:GL) by 95.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,156 shares of the company’s stock after selling 486,343 shares during the period. KBC Group NV’s holdings in Globe Life were worth $2,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. UMB Bank n.a. raised its position in Globe Life by 7.7% in the 3rd quarter. UMB Bank n.a. now owns 1,357 shares of the company’s stock worth $144,000 after purchasing an additional 97 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Globe Life by 4.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,607 shares of the company’s stock worth $382,000 after acquiring an additional 166 shares during the last quarter. TrueWealth Advisors LLC lifted its stake in shares of Globe Life by 1.3% during the 3rd quarter. TrueWealth Advisors LLC now owns 13,141 shares of the company’s stock worth $1,392,000 after acquiring an additional 170 shares during the last quarter. Ballentine Partners LLC boosted its holdings in Globe Life by 7.7% during the 3rd quarter. Ballentine Partners LLC now owns 2,682 shares of the company’s stock valued at $284,000 after acquiring an additional 191 shares during the period. Finally, Bruce G. Allen Investments LLC grew its position in Globe Life by 33.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 806 shares of the company’s stock valued at $66,000 after acquiring an additional 201 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Truist Financial boosted their target price on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Morgan Stanley boosted their price objective on shares of Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. 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 note on Tuesday, October 15th. Keefe, Bruyette & Woods increased their price objective on Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Finally, Wells Fargo & Company lifted their target price on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. 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. According to MarketBeat.com, Globe Life presently has an average rating of “Moderate Buy” and an average target price of $124.50.

Globe Life Trading Up 0.5 %

NYSE:GL opened at $109.70 on Tuesday. The stock has a market capitalization of $9.21 billion, a price-to-earnings ratio of 9.28 and a beta of 0.81. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. 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 firm has a 50 day moving average of $107.09 and a 200 day moving average of $95.03.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same period last year, the business posted $2.71 earnings per share. As a group, sell-side analysts anticipate that Globe Life Inc. will post 12.31 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Monday, January 6th. Globe Life’s dividend payout ratio (DPR) is 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.