SRN Advisors LLC Decreases Stock Position in Globe Life Inc. (NYSE:GL)

SRN Advisors LLC trimmed its holdings in Globe Life Inc. (NYSE:GL) by 3.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,500 shares of the company’s stock after selling 258 shares during the period. SRN Advisors LLC’s holdings in Globe Life were worth $688,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Globe Life by 10.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,432 shares of the company’s stock valued at $1,098,000 after purchasing an additional 875 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Globe Life by 1.8% during the 1st quarter. Principal Financial Group Inc. now owns 103,353 shares of the company’s stock valued at $12,027,000 after buying an additional 1,823 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Globe Life by 0.5% during the first quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock worth $4,082,000 after buying an additional 167 shares in the last quarter. Centric Wealth Management acquired a new position in shares of Globe Life in the first quarter worth $5,012,000. Finally, Janney Montgomery Scott LLC lifted its position in shares of Globe Life by 14.4% in the first quarter. Janney Montgomery Scott LLC now owns 25,535 shares of the company’s stock valued at $2,972,000 after acquiring an additional 3,218 shares in the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Price Performance

Globe Life stock opened at $105.15 on Friday. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a 50 day moving average price of $105.37 and a 200 day moving average price of $90.77. The company has a market cap of $9.47 billion, a price-to-earnings ratio of 10.04 and a beta of 0.81.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the firm posted $2.71 EPS. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. Sell-side analysts predict that Globe Life Inc. will post 11.93 earnings per share for the current year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a $0.24 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.91%. Globe Life’s dividend payout ratio (DPR) is 9.17%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GL shares. Raymond James increased their price objective 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. Piper Sandler raised their price target on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday. Truist Financial boosted their price objective on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Friday. Wells Fargo & Company upped their price objective on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley lifted their target price on shares of Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday. Five investment 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $123.80.

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.