Jacobs Levy Equity Management Inc. Purchases 4,230 Shares of Globe Life Inc. (NYSE:GL)

Jacobs Levy Equity Management Inc. raised its position in shares of Globe Life Inc. (NYSE:GL) by 0.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 660,198 shares of the company’s stock after purchasing an additional 4,230 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Globe Life were worth $69,922,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in Globe Life by 104.3% during the second quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company’s stock valued at $132,577,000 after purchasing an additional 822,638 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Globe Life by 22.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock worth $160,949,000 after acquiring an additional 277,108 shares during the period. Millennium Management LLC lifted its holdings in shares of Globe Life by 177.0% in the 2nd quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock valued at $105,303,000 after buying an additional 817,760 shares during the period. Nuance Investments LLC increased its stake in Globe Life by 155.6% during the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock worth $120,629,000 after buying an additional 693,346 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of Globe Life by 398.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company’s stock worth $88,420,000 after purchasing an additional 859,146 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors.

Globe Life Trading Down 1.1 %

Shares of NYSE:GL opened at $110.04 on Tuesday. The stock has a market cap of $9.24 billion, a price-to-earnings ratio of 9.31 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 moving average price of $108.15 and a 200-day moving average price of $96.63. 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 for the quarter, topping the consensus estimate of $3.06 by $0.43. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. Globe Life’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.71 EPS. Equities analysts predict that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 8th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Monday, January 6th. Globe Life’s dividend payout ratio is presently 8.12%.

Analyst Ratings Changes

A number of analysts have recently commented on GL shares. Raymond James lifted their target price on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 15th. Truist Financial upped their price objective on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Piper Sandler raised their price target on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Morgan Stanley raised 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. Finally, Wells Fargo & Company lifted their target price on shares of Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $124.50.

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.