Signaturefd LLC Grows Position in Globe Life Inc. (NYSE:GL)

Signaturefd LLC raised its holdings in shares of Globe Life Inc. (NYSE:GL) by 24.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,625 shares of the company’s stock after acquiring an additional 902 shares during the quarter. Signaturefd LLC’s holdings in Globe Life were worth $490,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. UMB Bank n.a. boosted its position in shares of Globe Life by 7.7% in the third 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. Commonwealth Equity Services LLC boosted its position in shares of Globe Life by 0.5% in the first quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock valued at $4,082,000 after acquiring an additional 167 shares during the period. Perigon Wealth Management LLC lifted its position in Globe Life by 7.6% during the first quarter. Perigon Wealth Management LLC now owns 2,619 shares of the company’s stock valued at $305,000 after purchasing an additional 184 shares during the last quarter. Bruce G. Allen Investments LLC lifted its position in Globe Life by 33.2% during the second quarter. Bruce G. Allen Investments LLC now owns 806 shares of the company’s stock valued at $66,000 after purchasing an additional 201 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Globe Life by 29.6% during the third quarter. Blue Trust Inc. now owns 1,006 shares of the company’s stock valued at $107,000 after purchasing an additional 230 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GL has been the subject of several research analyst reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $118.00 target price (up from $110.00) on shares of Globe Life in a research report on Wednesday, July 31st. TD Cowen initiated coverage on shares of Globe Life in a research report on Wednesday, October 9th. They set a “buy” rating and a $150.00 target price for the company. Piper Sandler lifted their target price on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday. Wells Fargo & Company lifted their target price on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Raymond James lifted their price target on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 15th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Globe Life has a consensus rating of “Moderate Buy” and a consensus price target of $123.80.

Globe Life Stock Down 3.9 %

Shares of NYSE GL opened at $105.15 on Friday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.31. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The firm’s fifty day moving average is $105.37 and its 200 day moving average is $90.88. The company has a market cap of $9.47 billion, a price-to-earnings ratio of 10.04 and a beta of 0.81.

Globe Life (NYSE:GL) last issued 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 18.47% and a return on equity of 21.93%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the firm earned $2.71 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities research analysts expect that Globe Life Inc. will post 11.93 earnings per share for the current year.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th 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 0.91%. The ex-dividend date is Friday, October 4th. Globe Life’s dividend payout ratio (DPR) is presently 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.