Daiwa Securities Group Inc. Raises Holdings in Globe Life Inc. (NYSE:GL)

Daiwa Securities Group Inc. lifted its holdings in Globe Life Inc. (NYSE:GL) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,166 shares of the company’s stock after purchasing an additional 919 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Globe Life were worth $5,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Algert Global LLC lifted its position in Globe Life by 29.4% during the third quarter. Algert Global LLC now owns 105,053 shares of the company’s stock valued at $11,126,000 after purchasing an additional 23,887 shares during the period. Cerity Partners LLC raised its stake in Globe Life by 283.7% during the 3rd quarter. Cerity Partners LLC now owns 34,540 shares of the company’s stock valued at $3,658,000 after buying an additional 25,539 shares during the last quarter. Raymond James Trust N.A. lifted its holdings in shares of Globe Life by 51.2% during the 3rd quarter. Raymond James Trust N.A. now owns 4,587 shares of the company’s stock valued at $486,000 after buying an additional 1,554 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Globe Life by 7.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 809,623 shares of the company’s stock worth $85,747,000 after buying an additional 56,673 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its stake in shares of Globe Life by 8.4% in the 3rd quarter. Pzena Investment Management LLC now owns 1,008,732 shares of the company’s stock worth $106,835,000 after buying an additional 78,354 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

Globe Life Stock Performance

GL opened at $111.43 on Wednesday. The company has a 50 day simple moving average of $107.76 and a two-hundred day simple moving average of $95.93. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market cap of $9.35 billion, a P/E ratio of 9.43 and a beta of 0.81. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00.

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

Globe Life Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Monday, January 6th. Globe Life’s dividend payout ratio is currently 8.12%.

Analyst Upgrades and Downgrades

GL has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Morgan Stanley increased their price objective on shares of Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. TD Cowen assumed 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. Raymond James upped their target price on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Truist Financial lifted their price target on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Five investment 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. Based on data from MarketBeat, Globe Life has a consensus rating of “Moderate Buy” and an average price target of $124.50.

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.