Friedenthal Financial Makes New Investment in Globe Life Inc. (NYSE:GL)

Friedenthal Financial acquired a new stake in shares of Globe Life Inc. (NYSE:GL) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,006 shares of the company’s stock, valued at approximately $742,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Globe Life by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock worth $1,309,755,000 after purchasing an additional 425,993 shares during the period. Boston Partners raised its holdings in shares of Globe Life by 6.4% in the first quarter. Boston Partners now owns 2,092,526 shares of the company’s stock worth $243,200,000 after buying an additional 125,457 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Globe Life by 104.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company’s stock worth $132,577,000 after acquiring an additional 822,638 shares during the last quarter. Millennium Management LLC boosted its holdings in Globe Life by 177.0% during the 2nd quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock valued at $105,303,000 after acquiring an additional 817,760 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its position in Globe Life by 398.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company’s stock valued at $88,420,000 after acquiring an additional 859,146 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

Globe Life Price Performance

GL opened at $109.72 on Friday. The firm has a market capitalization of $9.88 billion, a PE ratio of 10.48 and a beta of 0.81. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05. The business’s 50-day moving average is $103.87 and its two-hundred day moving average is $90.90. 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 quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the previous year, the firm earned $2.61 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. Research analysts anticipate that Globe Life Inc. will post 11.93 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Friday, October 4th. Globe Life’s dividend payout ratio (DPR) is presently 9.17%.

Insider Buying and Selling

In other news, Director Mary E. Thigpen purchased 3,000 shares of the stock in a transaction on Friday, July 26th. The stock was bought at an average price of $90.20 per share, with a total value of $270,600.00. Following the transaction, the director now owns 15,605 shares in the company, valued at $1,407,571. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.51% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $118.00 target price (up from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Morgan Stanley upped their target price on shares of Globe Life from $66.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Wells Fargo & Company lifted their price target on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. TD Cowen began coverage on Globe Life in a report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price target for the company. Finally, Jefferies Financial Group raised their price objective on Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, June 28th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $117.40.

Globe Life 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.