Redwood Investment Management LLC bought a new position in Globe Life Inc. (NYSE:GL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 33,293 shares of the company's stock, valued at approximately $3,713,000.
Several other hedge funds and other institutional investors have also bought and sold shares of GL. Principal Financial Group Inc. lifted its holdings in shares of Globe Life by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 105,315 shares of the company's stock worth $11,154,000 after acquiring an additional 8,663 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Globe Life by 0.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,923 shares of the company's stock valued at $2,110,000 after purchasing an additional 144 shares during the last quarter. Kathmere Capital Management LLC purchased a new position in Globe Life in the 4th quarter worth $217,000. Merit Financial Group LLC bought a new stake in Globe Life in the fourth quarter worth $487,000. Finally, HB Wealth Management LLC boosted its position in Globe Life by 49.4% during the fourth quarter. HB Wealth Management LLC now owns 3,093 shares of the company's stock valued at $345,000 after buying an additional 1,023 shares during the period. Hedge funds and other institutional investors own 81.61% of the company's stock.
Globe Life Price Performance
Shares of Globe Life stock opened at $119.41 on Thursday. The business has a 50 day moving average of $123.29 and a 200 day moving average of $117.37. Globe Life Inc. has a 52 week low of $76.55 and a 52 week high of $133.76. The company has a market cap of $9.86 billion, a PE ratio of 9.99 and a beta of 0.56. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50.
Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $3.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.24 by ($0.17). Globe Life had a net margin of 18.53% and a return on equity of 22.32%. The company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same period in the previous year, the firm posted $2.78 earnings per share. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, equities research analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current year.
Globe Life Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life's payout ratio is currently 8.79%.
Analysts Set New Price Targets
Several research analysts have recently commented on the company. Morgan Stanley decreased their price objective on Globe Life from $126.00 to $117.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. JPMorgan Chase & Co. lifted their price target on Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. BMO Capital Markets started coverage on Globe Life in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 price objective for the company. Piper Sandler cut their target price on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Finally, Wells Fargo & Company decreased their target price on shares of Globe Life from $140.00 to $139.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Globe Life has a consensus rating of "Moderate Buy" and an average target price of $137.00.
Check Out Our Latest Research Report on GL
About Globe Life
(
Free Report)
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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