Huntington National Bank Sells 562 Shares of Globe Life Inc. (NYSE:GL)

Huntington National Bank lowered its holdings in Globe Life Inc. (NYSE:GL) by 19.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,401 shares of the company’s stock after selling 562 shares during the period. Huntington National Bank’s holdings in Globe Life were worth $254,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Globe Life by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock worth $1,309,755,000 after purchasing an additional 425,993 shares during the period. Boston Partners boosted its position in shares of Globe Life by 6.4% in the first quarter. Boston Partners now owns 2,092,526 shares of the company’s stock valued at $243,200,000 after acquiring an additional 125,457 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Globe Life by 104.3% in the second quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company’s stock valued at $132,577,000 after acquiring an additional 822,638 shares during the period. Millennium Management LLC grew its stake in Globe Life by 177.0% during the second quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock valued at $105,303,000 after acquiring an additional 817,760 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its holdings in Globe Life by 398.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company’s stock worth $88,420,000 after acquiring an additional 859,146 shares during the period. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Stock Up 0.2 %

Shares of NYSE GL opened at $109.20 on Friday. The stock has a market capitalization of $9.17 billion, a P/E ratio of 9.24 and a beta of 0.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The firm’s 50 day simple moving average is $106.97 and its two-hundred day simple moving average is $94.70.

Globe Life (NYSE:GL) last issued its earnings results 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 net margin of 19.04% and a return on equity of 22.91%. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the company earned $2.71 EPS. The firm’s revenue was up 5.1% compared to the same quarter last year. As a group, analysts expect that Globe Life Inc. will post 12.32 EPS for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 8th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.88%. Globe Life’s payout ratio is 8.12%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GL. TD Cowen initiated coverage on shares of Globe Life in a report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price target for the company. Raymond James lifted 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. Truist Financial upped their target price on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Morgan Stanley lifted their price target on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $124.50.

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.