Riverview Trust Co Invests $32,000 in Globe Life Inc. (NYSE:GL)

Riverview Trust Co bought a new stake in Globe Life Inc. (NYSE:GL) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 298 shares of the company’s stock, valued at approximately $32,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Net Worth Advisory Group purchased a new stake in Globe Life in the third quarter valued at approximately $674,000. nVerses Capital LLC raised its stake in Globe Life by 1,150.0% in the third quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock valued at $265,000 after purchasing an additional 2,300 shares in the last quarter. Creative Planning raised its stake in Globe Life by 43.8% in the third quarter. Creative Planning now owns 32,477 shares of the company’s stock valued at $3,440,000 after purchasing an additional 9,892 shares in the last quarter. CHICAGO TRUST Co NA purchased a new position in shares of Globe Life during the third quarter worth approximately $354,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Globe Life in the 3rd quarter worth approximately $247,000. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Stock Up 0.6 %

NYSE:GL opened at $109.72 on Friday. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The company has a market cap of $9.88 billion, a price-to-earnings ratio of 10.48 and a beta of 0.81. The stock has a fifty day simple moving average of $103.87 and a 200-day simple moving average of $90.90. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.31.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $2.61 earnings per share. Analysts anticipate that Globe Life Inc. will post 11.93 EPS for the current year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a $0.24 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.96 annualized dividend and a yield of 0.87%. Globe Life’s dividend payout ratio (DPR) is presently 9.17%.

Insider Buying and Selling at Globe Life

In other Globe Life news, Director Mary E. Thigpen purchased 3,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were acquired at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the completion of the purchase, the director now owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.51% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Morgan Stanley upped their target price on shares of Globe Life from $66.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. TD Cowen assumed coverage on shares of Globe Life in a research report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price on the stock. Raymond James upped their target price on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research note on Tuesday. Evercore ISI upped their target price on shares of Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a research note on Wednesday, June 26th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $118.00 target price (up previously from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $117.40.

Globe Life 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.