Globe Life Inc. (NYSE:GL) Shares Acquired by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lifted its stake in shares of Globe Life Inc. (NYSE:GL) by 0.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 660,198 shares of the company’s stock after acquiring an additional 4,230 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.79% of Globe Life worth $69,922,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Centiva Capital LP acquired a new position in shares of Globe Life during the 3rd quarter worth approximately $376,000. Chevy Chase Trust Holdings LLC raised its stake in Globe Life by 5.1% during the third quarter. Chevy Chase Trust Holdings LLC now owns 48,161 shares of the company’s stock worth $5,101,000 after acquiring an additional 2,318 shares during the period. Erste Asset Management GmbH bought a new position in Globe Life in the 3rd quarter worth about $282,000. True Wealth Design LLC bought a new stake in Globe Life during the third quarter worth approximately $59,000. Finally, Cobblestone Capital Advisors LLC NY purchased a new stake in shares of Globe Life in the 3rd quarter valued at approximately $212,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GL shares. Morgan Stanley raised their price target on shares of Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Truist Financial upped their price target on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Piper Sandler increased their price objective on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Wells Fargo & Company raised their price objective on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, TD Cowen assumed coverage on Globe Life in a research report on Wednesday, October 9th. They set a “buy” rating and a $150.00 target price on the stock. Five 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $124.50.

Globe Life Trading Down 1.1 %

Shares of NYSE GL opened at $110.04 on Tuesday. The stock has a market capitalization of $9.24 billion, a P/E ratio of 9.31 and a beta of 0.81. The stock’s 50 day moving average price is $108.15 and its two-hundred day moving average price is $96.63. Globe Life Inc. has a 52-week low of $38.95 and a 52-week 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 posted its earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.06 by $0.43. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.71 earnings per share. On average, 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 announced 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. 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 0.87%. Globe Life’s payout ratio is presently 8.12%.

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.