Net Worth Advisory Group Purchases New Position in Globe Life Inc. (NYSE:GL)

Net Worth Advisory Group purchased a new position in shares of Globe Life Inc. (NYSE:GL) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,363 shares of the company’s stock, valued at approximately $674,000.

Other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. raised its position in shares of Globe Life by 7.7% during the 3rd quarter. UMB Bank n.a. now owns 1,357 shares of the company’s stock worth $144,000 after purchasing an additional 97 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Globe Life by 0.5% in the first quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock valued at $4,082,000 after acquiring an additional 167 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in shares of Globe Life by 7.6% in the first quarter. Perigon Wealth Management LLC now owns 2,619 shares of the company’s stock worth $305,000 after acquiring an additional 184 shares during the last quarter. Bruce G. Allen Investments LLC increased its position in shares of Globe Life by 33.2% during the second quarter. Bruce G. Allen Investments LLC now owns 806 shares of the company’s stock worth $66,000 after purchasing an additional 201 shares in the last quarter. Finally, Quarry LP raised its stake in Globe Life by 47.5% in the 2nd quarter. Quarry LP now owns 838 shares of the company’s stock valued at $69,000 after purchasing an additional 270 shares during the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Globe Life Stock Performance

Shares of Globe Life stock opened at $109.72 on Friday. The firm has a market cap of $9.88 billion, a PE ratio of 10.48 and a beta of 0.81. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.31. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The business’s fifty day simple moving average is $103.87 and its 200-day simple moving average is $90.76.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.07. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. Globe Life’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.61 EPS. Equities analysts forecast that Globe Life Inc. will post 11.93 earnings per share for the current year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.87%. Globe Life’s payout ratio is currently 9.17%.

Insider Activity at Globe Life

In other news, Director Mary E. Thigpen purchased 3,000 shares of the stock in a transaction dated Friday, July 26th. The stock was acquired at an average cost of $90.20 per share, for a total transaction of $270,600.00. Following the completion of the transaction, the director now directly owns 15,605 shares in the company, valued at approximately $1,407,571. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 1.51% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Raymond James upped their target price on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 15th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $118.00 target price (up from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Wells Fargo & Company upped their price target on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Morgan Stanley boosted their price objective on Globe Life from $66.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Finally, Evercore ISI upped their target price on Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a report on Wednesday, June 26th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Globe Life presently has an average rating of “Moderate Buy” and an average price target of $117.40.

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.