World Investment Advisors LLC Purchases 1,469 Shares of Globe Life Inc. (NYSE:GL)

World Investment Advisors LLC raised its position in Globe Life Inc. (NYSE:GL) by 34.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,704 shares of the company’s stock after acquiring an additional 1,469 shares during the quarter. World Investment Advisors LLC’s holdings in Globe Life were worth $604,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in Globe Life by 12.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 10,638 shares of the company’s stock worth $875,000 after purchasing an additional 1,206 shares during the period. Blue Trust Inc. boosted its position in shares of Globe Life by 249.5% in the 2nd quarter. Blue Trust Inc. now owns 776 shares of the company’s stock worth $64,000 after purchasing an additional 554 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Globe Life by 15.1% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 195,089 shares of the company’s stock worth $16,052,000 after buying an additional 25,562 shares during the last quarter. Pallas Capital Advisors LLC bought a new position in Globe Life during the 2nd quarter valued at approximately $259,000. Finally, Fifth Third Bancorp raised its stake in Globe Life by 48.7% during the second quarter. Fifth Third Bancorp now owns 5,049 shares of the company’s stock valued at $415,000 after buying an additional 1,654 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

Globe Life Stock Performance

Globe Life stock opened at $106.76 on Tuesday. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The company has a market capitalization of $8.96 billion, a PE ratio of 9.03 and a beta of 0.81. The company has a 50 day moving average price of $108.13 and a 200-day moving average price of $98.38. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05.

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. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the firm posted $2.71 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities analysts forecast that Globe Life Inc. will post 12.31 earnings per share for the current year.

Globe Life Announces Dividend

The firm also recently disclosed 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. 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 0.90%. Globe Life’s payout ratio is 8.12%.

Insider Transactions at Globe Life

In other news, CEO Frank M. Svoboda sold 14,340 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 16,396 shares in the company, valued at $1,783,884.80. This represents a 46.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GL. Morgan Stanley increased their price objective 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. Truist Financial increased their price target on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods boosted their price objective 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. TD Cowen began coverage on Globe Life in a research note on Wednesday, October 9th. They set a “buy” rating and a $150.00 target price on the stock. Finally, Wells Fargo & Company lifted their target price on 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 issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $127.10.

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.