Victory Capital Management Inc. Has $44.59 Million Position in Globe Life Inc. (NYSE:GL)

Victory Capital Management Inc. raised its holdings in Globe Life Inc. (NYSE:GL) by 38.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 421,018 shares of the company’s stock after acquiring an additional 117,839 shares during the quarter. Victory Capital Management Inc.’s holdings in Globe Life were worth $44,590,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GL. QRG Capital Management Inc. increased its stake in Globe Life by 69.7% in the 1st quarter. QRG Capital Management Inc. now owns 2,867 shares of the company’s stock valued at $334,000 after buying an additional 1,178 shares during the last quarter. ProShare Advisors LLC grew its position in shares of Globe Life by 2.3% in the 1st quarter. ProShare Advisors LLC now owns 18,096 shares of the company’s stock valued at $2,106,000 after acquiring an additional 413 shares during the period. State Board of Administration of Florida Retirement System grew its position in shares of Globe Life by 12.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 114,353 shares of the company’s stock valued at $12,581,000 after acquiring an additional 12,449 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Globe Life by 7.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,607 shares of the company’s stock valued at $11,824,000 after acquiring an additional 7,100 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new position in shares of Globe Life in the 1st quarter valued at about $22,290,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GL. Wells Fargo & Company lifted their price objective on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. TD Cowen initiated coverage on shares of Globe Life in a research report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective for the company. Morgan Stanley lifted their target price on shares of Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods lifted their target price on shares of Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Finally, Raymond James lifted their target price on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 15th. Five investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $124.50.

Globe Life Stock Performance

NYSE GL opened at $109.20 on Friday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $9.17 billion, a P/E ratio of 9.24 and a beta of 0.81. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The firm has a 50-day moving average price of $106.97 and a two-hundred day moving average price of $94.58.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43. The firm had revenue of $1.46 billion during 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 revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.71 EPS. Analysts anticipate that Globe Life Inc. will post 12.32 earnings per share for the current year.

Globe Life Dividend Announcement

The company 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 $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.88%. Globe Life’s payout ratio is presently 8.12%.

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.