Lazard Asset Management LLC Boosts Holdings in Globe Life Inc. (NYSE:GL)

Lazard Asset Management LLC increased its position in Globe Life Inc. (NYSE:GL - Free Report) by 43.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,999 shares of the company's stock after purchasing an additional 3,317 shares during the period. Lazard Asset Management LLC's holdings in Globe Life were worth $1,226,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Private Trust Co. NA lifted its stake in shares of Globe Life by 12.5% in the fourth quarter. Private Trust Co. NA now owns 754 shares of the company's stock worth $84,000 after buying an additional 84 shares in the last quarter. HighPoint Advisor Group LLC raised its holdings in Globe Life by 4.0% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,271 shares of the company's stock worth $276,000 after acquiring an additional 87 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its position in Globe Life by 4.0% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company's stock valued at $256,000 after acquiring an additional 88 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Globe Life by 32.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock valued at $41,000 after purchasing an additional 90 shares during the last quarter. Finally, New Mexico Educational Retirement Board boosted its stake in Globe Life by 2.4% during the 4th quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company's stock valued at $472,000 after purchasing an additional 100 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GL shares. StockNews.com upgraded Globe Life from a "hold" rating to a "buy" rating in a research note on Friday. Morgan Stanley upped their target price on shares of Globe Life from $117.00 to $125.00 and gave the company an "equal weight" rating in a research note on Monday. Wells Fargo & Company dropped their price target on shares of Globe Life from $140.00 to $139.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. JPMorgan Chase & Co. boosted their price objective on shares of Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Finally, Piper Sandler lowered their price objective on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $137.73.

Globe Life Stock Performance

Shares of NYSE GL opened at $122.07 on Tuesday. Globe Life Inc. has a 12-month low of $76.55 and a 12-month high of $133.76. The firm has a market capitalization of $10.08 billion, a price-to-earnings ratio of 10.22 and a beta of 0.56. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average of $123.19 and a 200 day moving average of $117.86.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.17). The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.49 billion. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. The company's revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.78 EPS. On average, research analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Thursday, July 3rd. Globe Life's dividend payout ratio (DPR) is currently 8.79%.

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.

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