Vestcor Inc Purchases 7,521 Shares of Globe Life Inc. (NYSE:GL)

Vestcor Inc lifted its position in shares of Globe Life Inc. (NYSE:GL) by 145.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,706 shares of the company’s stock after buying an additional 7,521 shares during the period. Vestcor Inc’s holdings in Globe Life were worth $1,346,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GL. UMB Bank n.a. lifted its stake in shares of Globe Life by 7.7% in the 3rd quarter. UMB Bank n.a. now owns 1,357 shares of the company’s stock valued at $144,000 after acquiring an additional 97 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Globe Life by 4.0% in the third quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company’s stock valued at $373,000 after purchasing an additional 136 shares during the last quarter. Fiduciary Trust Co boosted its stake in shares of Globe Life by 2.3% during the third quarter. Fiduciary Trust Co now owns 6,329 shares of the company’s stock valued at $670,000 after purchasing an additional 144 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Globe Life by 4.8% in the third quarter. Farther Finance Advisors LLC now owns 3,607 shares of the company’s stock worth $382,000 after purchasing an additional 166 shares during the last quarter. Finally, TrueWealth Advisors LLC increased its stake in shares of Globe Life by 1.3% in the third quarter. TrueWealth Advisors LLC now owns 13,141 shares of the company’s stock worth $1,392,000 after buying an additional 170 shares during the period. Institutional investors own 81.61% of the company’s stock.

Globe Life Trading Up 1.4 %

NYSE GL opened at $105.09 on Thursday. The firm has a market capitalization of $8.82 billion, a PE ratio of 8.89 and a beta of 0.81. The stock’s 50 day moving average is $108.09 and its 200 day moving average is $97.79. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.46 billion. During the same period last year, the business earned $2.71 EPS. Globe Life’s quarterly revenue was up 5.1% compared to the same quarter last year. Research analysts forecast that Globe Life Inc. will post 12.31 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The business 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 dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Monday, January 6th. Globe Life’s dividend payout ratio (DPR) is presently 8.12%.

Analyst Ratings Changes

Several equities research analysts have weighed in on GL shares. Morgan Stanley increased their price target 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. Piper Sandler increased their target price on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Raymond James raised their target price 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. Keefe, Bruyette & Woods upped their price target on Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Finally, Jefferies Financial Group lifted their price objective on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday. 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $127.10.

Insider Buying and Selling at Globe Life

In related news, CEO Frank M. Svoboda sold 14,340 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total value of $1,560,192.00. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.51% of the stock is owned by company insiders.

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.