Globe Life Inc. (NYSE:GL) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its stake in shares of Globe Life Inc. (NYSE:GL) by 41.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 138,475 shares of the company’s stock after selling 97,349 shares during the period. New York State Common Retirement Fund’s holdings in Globe Life were worth $14,666,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. UMB Bank n.a. lifted its position 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 valued at $144,000 after acquiring an additional 97 shares during the period. Ballentine Partners LLC lifted its position 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 valued at $284,000 after acquiring an additional 191 shares during the period. Bruce G. Allen Investments LLC lifted its position in shares of Globe Life by 33.2% during 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 period. Blue Trust Inc. raised its position in shares of Globe Life by 29.6% during the 3rd quarter. Blue Trust Inc. now owns 1,006 shares of the company’s stock worth $107,000 after purchasing an additional 230 shares during the last quarter. Finally, Quarry LP raised its position in shares of Globe Life by 47.5% during the 2nd quarter. Quarry LP now owns 838 shares of the company’s stock worth $69,000 after purchasing an additional 270 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GL has been the subject of several research reports. Truist Financial lifted their price objective on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Raymond James lifted their price objective on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods lifted their price objective on Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Wells Fargo & Company lifted their price objective on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley lifted their price objective on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $124.50.

Globe Life Stock Up 0.9 %

GL stock opened at $104.38 on Wednesday. The stock has a market capitalization of $9.38 billion, a P/E ratio of 8.83 and a beta of 0.81. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The company has a 50 day moving average price of $106.12 and a two-hundred day moving average price of $92.64.

Globe Life (NYSE:GL) last announced its quarterly earnings data 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. Globe Life had a net margin of 19.04% and a return on equity of 22.58%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the company earned $2.71 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts expect that Globe Life Inc. will post 12.32 EPS for the current year.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $0.96 annualized dividend and a dividend yield of 0.92%. Globe Life’s dividend payout ratio is presently 8.12%.

Globe Life 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.