Mutual of America Capital Management LLC Raises Holdings in Globe Life Inc. (NYSE:GL)

Mutual of America Capital Management LLC lifted its holdings in Globe Life Inc. (NYSE:GL) by 4.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,060 shares of the company’s stock after buying an additional 471 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Globe Life were worth $1,171,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GL. D. E. Shaw & Co. Inc. grew its holdings in shares of Globe Life by 398.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company’s stock worth $88,420,000 after acquiring an additional 859,146 shares during the period. Bank of New York Mellon Corp boosted its position in Globe Life by 104.3% during the second quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company’s stock worth $132,577,000 after purchasing an additional 822,638 shares in the last quarter. Millennium Management LLC grew its holdings in Globe Life by 177.0% in the second quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock valued at $105,303,000 after purchasing an additional 817,760 shares during the last quarter. Pzena Investment Management LLC increased its position in shares of Globe Life by 146.3% in the second quarter. Pzena Investment Management LLC now owns 930,378 shares of the company’s stock valued at $76,552,000 after buying an additional 552,634 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Globe Life by 15,398.7% during the 3rd quarter. International Assets Investment Management LLC now owns 336,631 shares of the company’s stock worth $356,530,000 after buying an additional 334,459 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GL shares. Morgan Stanley increased their price objective on shares of Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods increased their price target on shares of Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. 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. Wells Fargo & Company increased their target price on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Raymond James boosted their price target on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 15th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.50.

Globe Life Price Performance

GL opened at $111.41 on Tuesday. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00. The company’s 50 day simple moving average is $107.76 and its 200 day simple moving average is $95.93. The stock has a market capitalization of $9.35 billion, a PE ratio of 9.43 and a beta of 0.81. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the firm posted $2.71 EPS. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, sell-side analysts expect that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 8th will be issued a $0.24 dividend. The ex-dividend date is Monday, January 6th. This represents a $0.96 annualized dividend and a yield of 0.86%. Globe Life’s payout ratio is 8.12%.

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.