Bridgewater Associates LP Buys New Position in Globe Life Inc. (NYSE:GL)

Bridgewater Associates LP purchased a new position in Globe Life Inc. (NYSE:GL) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 82,560 shares of the company’s stock, valued at approximately $8,744,000. Bridgewater Associates LP owned 0.10% of Globe Life as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Boston Partners lifted its stake in shares of Globe Life by 6.4% in the first quarter. Boston Partners now owns 2,092,526 shares of the company’s stock worth $243,200,000 after acquiring an additional 125,457 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Globe Life by 104.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company’s stock valued at $132,577,000 after purchasing an additional 822,638 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Globe Life by 177.0% during the 2nd quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock valued at $105,303,000 after buying an additional 817,760 shares during the last quarter. Nuance Investments LLC grew its position in shares of Globe Life by 155.6% during the third quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock worth $120,629,000 after buying an additional 693,346 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in shares of Globe Life by 398.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company’s stock worth $88,420,000 after buying an additional 859,146 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Price Performance

Shares of NYSE GL opened at $111.70 on Friday. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The firm has a market capitalization of $9.38 billion, a PE ratio of 9.45 and a beta of 0.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The business’s fifty day moving average price is $107.96 and its two-hundred day moving average price is $96.22.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the firm posted $2.71 EPS. Globe Life’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, research analysts expect that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Dividend Announcement

The firm also recently disclosed 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. This represents a $0.96 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Monday, January 6th. Globe Life’s dividend payout ratio (DPR) is 8.12%.

Analyst Ratings Changes

Several research analysts have weighed in on GL shares. Keefe, Bruyette & Woods raised their price objective on shares of Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Piper Sandler boosted their price objective on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Morgan Stanley increased their target price on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. TD Cowen initiated coverage on Globe Life in a report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price target for the company. Finally, Wells Fargo & Company raised their price objective on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $124.50.

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.