2,334 Shares in Globe Life Inc. (NYSE:GL) Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC acquired a new position in shares of Globe Life Inc. (NYSE:GL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,334 shares of the company’s stock, valued at approximately $247,000.

Several other large investors have also made changes to their positions in GL. Nomura Holdings Inc. acquired a new position in shares of Globe Life during the 4th quarter worth about $211,000. Wealth Enhancement Advisory Services LLC raised its holdings in Globe Life by 10.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,432 shares of the company’s stock valued at $1,098,000 after acquiring an additional 875 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Globe Life by 1.8% in the 1st quarter. Principal Financial Group Inc. now owns 103,353 shares of the company’s stock valued at $12,027,000 after acquiring an additional 1,823 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Globe Life by 0.5% in the 1st 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 in the last quarter. Finally, Perigon Wealth Management LLC raised its holdings in Globe Life by 7.6% in the 1st quarter. Perigon Wealth Management LLC now owns 2,619 shares of the company’s stock valued at $305,000 after acquiring an additional 184 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on GL shares. Raymond James upped their price target on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th. Truist Financial upped their price target on Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a report on Friday, July 26th. TD Cowen started coverage on Globe Life in a report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price target for the company. Evercore ISI upped their price target on Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a report on Wednesday, June 26th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $118.00 price objective (up from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $117.40.

Globe Life Stock Up 0.6 %

NYSE GL opened at $109.72 on Monday. The firm has a market cap of $9.88 billion, a PE ratio of 10.48 and a beta of 0.81. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The stock’s 50 day simple moving average is $103.87 and its 200 day simple moving average is $90.76. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. Globe Life’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.61 EPS. As a group, sell-side analysts forecast that Globe Life Inc. will post 11.93 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a yield of 0.87%. Globe Life’s dividend payout ratio (DPR) is presently 9.17%.

Insider Buying and Selling

In other news, Director Mary E. Thigpen acquired 3,000 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were purchased at an average cost of $90.20 per share, for a total transaction of $270,600.00. Following the transaction, the director now owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.51% of the stock is owned by corporate insiders.

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.