Globe Life Inc. (NYSE:GL) Shares Bought by National Bank of Canada FI

National Bank of Canada FI boosted its stake in shares of Globe Life Inc. (NYSE:GL) by 27.0% during the 3rd quarter, Holdings Channel reports. The firm owned 29,219 shares of the company’s stock after acquiring an additional 6,210 shares during the quarter. National Bank of Canada FI’s holdings in Globe Life were worth $3,095,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Riverview Trust Co purchased a new stake in shares of Globe Life during the third quarter valued at $32,000. True Wealth Design LLC purchased a new position in Globe Life in the 3rd quarter worth $59,000. Benjamin F. Edwards & Company Inc. lifted its position in 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 acquiring an additional 281 shares during the period. LRI Investments LLC grew its stake in Globe Life by 898.4% during the 2nd quarter. LRI Investments LLC now owns 619 shares of the company’s stock valued at $51,000 after purchasing an additional 557 shares during the last quarter. Finally, Family Firm Inc. acquired a new position in shares of Globe Life in the second quarter valued at about $54,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

Insider Activity at Globe Life

In related news, CEO Frank M. Svoboda sold 14,340 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 16,396 shares of the company’s stock, valued at approximately $1,783,884.80. This trade represents a 46.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.51% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GL has been the subject of a number of research reports. Truist Financial lifted their target price on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods raised their price target 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. TD Cowen started coverage on shares of Globe Life in a report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective on the stock. Jefferies Financial Group increased their price objective on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, Morgan Stanley boosted 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. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Globe Life presently has an average rating of “Moderate Buy” and a consensus price target of $127.10.

Globe Life Stock Up 0.9 %

GL stock opened at $105.42 on Friday. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The firm’s fifty day moving average is $108.06 and its 200 day moving average is $98.00. The firm has a market cap of $8.85 billion, a PE ratio of 8.92 and a beta of 0.81.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the firm earned $2.71 EPS. On average, research analysts forecast that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders 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 0.91%. Globe Life’s dividend payout ratio (DPR) is 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.