Sequoia Financial Advisors LLC Invests $276,000 in Globe Life Inc. (NYSE:GL)

Sequoia Financial Advisors LLC bought a new position in shares of Globe Life Inc. (NYSE:GL) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,602 shares of the company’s stock, valued at approximately $276,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. UMB Bank n.a. boosted its stake 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 worth $144,000 after acquiring an additional 97 shares during the period. Commonwealth Equity Services LLC lifted its holdings in Globe Life by 0.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock worth $4,082,000 after purchasing an additional 167 shares during the last quarter. Bruce G. Allen Investments LLC lifted its holdings in Globe Life by 33.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 806 shares of the company’s stock worth $66,000 after purchasing an additional 201 shares during the last quarter. Blue Trust Inc. lifted its holdings in 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 lifted its holdings in 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.

Globe Life Trading Up 0.3 %

Shares of GL stock opened at $105.45 on Tuesday. The stock’s fifty day simple moving average is $105.52 and its 200 day simple moving average is $91.06. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The firm has a market capitalization of $9.49 billion, a P/E ratio of 10.07 and a beta of 0.81. 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 (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. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the company posted $2.71 EPS. The business’s revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts predict that Globe Life Inc. will post 11.93 EPS for the current fiscal year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a $0.24 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.91%. Globe Life’s dividend payout ratio (DPR) is presently 9.17%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GL shares. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $118.00 price target (up from $110.00) on shares of Globe Life in a report on Wednesday, July 31st. TD Cowen initiated coverage on Globe Life in a report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price target for the company. Piper Sandler lifted their price objective on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday. Raymond James lifted their price objective on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Morgan Stanley lifted their price objective on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $123.80.

About Globe Life

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.