LRI Investments LLC Purchases 195 Shares of Globe Life Inc. (NYSE:GL)

LRI Investments LLC increased its holdings in Globe Life Inc. (NYSE:GL) by 31.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 814 shares of the company’s stock after acquiring an additional 195 shares during the period. LRI Investments LLC’s holdings in Globe Life were worth $89,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Riverview Trust Co purchased a new position in Globe Life in the third quarter worth $32,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Globe Life by 88.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after purchasing an additional 281 shares during the period. Family Firm Inc. purchased a new position in shares of Globe Life in the 2nd quarter worth about $54,000. True Wealth Design LLC bought a new position in Globe Life during the third quarter valued at about $59,000. Finally, Blue Trust Inc. increased its holdings in Globe Life by 249.5% during the second quarter. Blue Trust Inc. now owns 776 shares of the company’s stock worth $64,000 after buying an additional 554 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 shares were sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the completion of the sale, the chief executive officer now directly owns 16,396 shares in the company, valued at $1,783,884.80. The trade was a 46.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.51% of the stock is currently owned by company insiders.

Globe Life Stock Down 0.6 %

Shares of NYSE GL opened at $103.60 on Wednesday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The company has a market cap of $8.70 billion, a P/E ratio of 8.76 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 business has a 50-day simple moving average of $108.09 and a two-hundred day simple moving average of $97.73.

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

Globe Life Announces Dividend

The firm also recently disclosed 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 of this dividend is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.93%. Globe Life’s dividend payout ratio (DPR) is presently 8.12%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Jefferies Financial Group increased their price objective on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday. Keefe, Bruyette & Woods raised their target price on Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. TD Cowen began coverage on Globe Life in a research report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price target on the stock. Finally, Piper Sandler lifted their price objective on Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Globe Life has an average 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.