Segall Bryant & Hamill LLC Increases Position in Globe Life Inc. (NYSE:GL)

Segall Bryant & Hamill LLC boosted its position in Globe Life Inc. (NYSE:GL) by 78.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 290,515 shares of the company’s stock after acquiring an additional 127,764 shares during the quarter. Segall Bryant & Hamill LLC owned 0.32% of Globe Life worth $30,768,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Riverview Trust Co bought a new stake in Globe Life in the third quarter worth $32,000. Benjamin F. Edwards & Company Inc. grew its position in Globe Life by 88.4% during 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 during the last quarter. LRI Investments LLC increased 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 valued at $51,000 after acquiring an additional 557 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Globe Life in the 2nd quarter worth $54,000. Finally, Blue Trust Inc. boosted its holdings in shares of Globe Life by 249.5% during the 2nd quarter. Blue Trust Inc. now owns 776 shares of the company’s stock valued at $64,000 after acquiring an additional 554 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GL shares. 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 report on Friday, October 25th. Raymond James raised their price target on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company boosted their price target on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. TD Cowen initiated coverage on shares of Globe Life in a research report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price target for the company. Finally, 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. 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $124.50.

Globe Life Price Performance

Shares of NYSE:GL opened at $109.38 on Wednesday. The firm has a market cap of $9.18 billion, a price-to-earnings ratio of 9.25 and a beta of 0.81. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a fifty day moving average price of $107.24 and a 200 day moving average price of $95.25.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the company earned $2.71 earnings per share. The firm’s revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts expect that Globe Life Inc. will post 12.31 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 8th will be given a $0.24 dividend. The ex-dividend date is Monday, January 6th. This represents a $0.96 annualized dividend and a yield of 0.88%. Globe Life’s dividend payout ratio is currently 8.12%.

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.