Geode Capital Management LLC Has $276.99 Million Stake in Globe Life Inc. (NYSE:GL)

Geode Capital Management LLC raised its stake in shares of Globe Life Inc. (NYSE:GL) by 3.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,618,764 shares of the company’s stock after buying an additional 89,299 shares during the quarter. Geode Capital Management LLC’s holdings in Globe Life were worth $276,994,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Riverview Trust Co bought a new position in Globe Life during the 3rd quarter worth approximately $32,000. True Wealth Design LLC acquired a new stake in Globe Life in the third quarter worth $59,000. Benjamin F. Edwards & Company Inc. raised its holdings in Globe Life by 88.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after purchasing an additional 281 shares during the period. LRI Investments LLC boosted its position in shares of Globe Life by 898.4% during the second quarter. LRI Investments LLC now owns 619 shares of the company’s stock worth $51,000 after purchasing an additional 557 shares in the last quarter. Finally, Family Firm Inc. acquired a new position in shares of Globe Life in the 2nd quarter valued at $54,000. 81.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GL has been the topic of several research analyst reports. Morgan Stanley raised their price objective on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Piper Sandler raised their price target on Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Wells Fargo & Company boosted their price objective on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. TD Cowen began coverage on shares of Globe Life in a report on Wednesday, October 9th. They set a “buy” rating and a $150.00 target price on the stock. Finally, Truist Financial upped their price target on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a report on Friday, October 25th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Globe Life presently has an average rating of “Moderate Buy” and an average price target of $127.10.

Globe Life Trading Up 0.9 %

Shares of NYSE:GL opened at $105.42 on Friday. The company’s 50-day moving average price is $108.06 and its two-hundred day moving average price is $98.10. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. 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 stock has a market capitalization of $8.85 billion, a PE ratio of 8.92 and a beta of 0.81.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the company posted $2.71 earnings per share. Globe Life’s revenue was up 5.1% on a year-over-year basis. On average, equities analysts forecast that Globe Life Inc. will post 12.31 EPS for the current fiscal year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Monday, January 6th. Globe Life’s payout ratio is presently 8.12%.

Insider Activity at Globe Life

In other news, CEO Frank M. Svoboda sold 14,340 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total value of $1,560,192.00. Following the sale, the chief executive officer now directly owns 16,396 shares of the company’s stock, valued at approximately $1,783,884.80. This represents a 46.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.51% of the stock is owned by company insiders.

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.