Globe Life Inc. (NYSE:GL) Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its holdings in shares of Globe Life Inc. (NYSE:GL) by 6.4% during the 3rd quarter, Holdings Channel reports. The firm owned 19,702 shares of the company’s stock after buying an additional 1,179 shares during the period. Retirement Systems of Alabama’s holdings in Globe Life were worth $2,087,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Riverview Trust Co purchased a new position in Globe Life in the third quarter valued at $32,000. True Wealth Design LLC purchased a new stake in Globe Life during the 3rd quarter worth about $59,000. Benjamin F. Edwards & Company Inc. raised its position in Globe Life by 88.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after purchasing an additional 281 shares in the last quarter. LRI Investments LLC boosted its stake in shares of Globe Life by 898.4% in the 2nd quarter. LRI Investments LLC now owns 619 shares of the company’s stock valued at $51,000 after buying an additional 557 shares during the period. Finally, Family Firm Inc. acquired a new position in shares of Globe Life during the second quarter worth about $54,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Insider Transactions at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of Globe Life stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the transaction, the chief executive officer now directly owns 16,396 shares in the company, valued at approximately $1,783,884.80. This trade represents a 46.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.51% of the company’s stock.

Globe Life Trading Up 3.3 %

NYSE:GL opened at $109.39 on Friday. The company has a market capitalization of $9.18 billion, a PE ratio of 9.25 and a beta of 0.81. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. The stock’s 50 day moving average price is $108.09 and its 200 day moving average price is $98.63. 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) last announced its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period last year, the firm posted $2.71 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, research analysts anticipate that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Announces Dividend

The firm also recently announced 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. The ex-dividend date is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.88%. Globe Life’s payout ratio is 8.12%.

Analysts Set New Price Targets

Several analysts recently weighed in on GL shares. Keefe, Bruyette & Woods raised their target price on shares of Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Wells Fargo & Company raised their price objective on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. TD Cowen assumed coverage on shares of Globe Life in a research note on Wednesday, October 9th. They set a “buy” rating and a $150.00 target price for the company. Raymond James raised their price target on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group upped their price objective on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.10.

About Globe Life

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.