Handelsbanken Fonder AB Increases Stock Holdings in Globe Life Inc. (NYSE:GL)

Handelsbanken Fonder AB lifted its position in Globe Life Inc. (NYSE:GL) by 6.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,084 shares of the company’s stock after purchasing an additional 3,126 shares during the quarter. Handelsbanken Fonder AB owned about 0.06% of Globe Life worth $6,340,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GL. CWM LLC lifted its position in Globe Life by 11.4% in the third quarter. CWM LLC now owns 1,527 shares of the company’s stock valued at $166,000 after buying an additional 156 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in Globe Life in the third quarter valued at about $625,000. Czech National Bank lifted its position in Globe Life by 44.5% in the third quarter. Czech National Bank now owns 15,197 shares of the company’s stock valued at $1,652,000 after buying an additional 4,677 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in Globe Life by 1.3% in the third quarter. Asset Management One Co. Ltd. now owns 37,304 shares of the company’s stock valued at $4,056,000 after buying an additional 476 shares during the last quarter. Finally, Ballentine Partners LLC lifted its position in Globe Life by 3.3% in the third quarter. Ballentine Partners LLC now owns 19,110 shares of the company’s stock valued at $2,078,000 after buying an additional 603 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GL shares. StockNews.com cut shares of Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Piper Sandler decreased their target price on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Evercore ISI reduced their price target on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a research report on Friday, April 12th. Finally, Keefe, Bruyette & Woods raised shares of Globe Life from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $130.00 to $110.00 in a research report on Wednesday. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.33.

Globe Life Stock Down 3.9 %

Shares of NYSE:GL opened at $75.54 on Friday. The firm’s 50 day moving average price is $107.65 and its 200 day moving average price is $115.54. The stock has a market cap of $7.10 billion, a price-to-earnings ratio of 7.21 and a beta of 0.69. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two 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 0.36.

Globe Life (NYSE:GL) last issued its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business earned $2.53 EPS. As a group, equities research analysts predict that Globe Life Inc. will post 11.68 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be issued a $0.24 dividend. This is a boost from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, April 4th. This represents a $0.96 annualized dividend and a yield of 1.27%. Globe Life’s dividend payout ratio (DPR) is 9.17%.

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.