Quantbot Technologies LP Acquires Shares of 68,945 Globe Life Inc. (NYSE:GL)

Quantbot Technologies LP bought a new position in Globe Life Inc. (NYSE:GL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 68,945 shares of the company’s stock, valued at approximately $5,673,000.

Other institutional investors have also recently modified their holdings of the company. WINTON GROUP Ltd purchased a new stake in shares of Globe Life during the second quarter valued at approximately $15,483,000. Federated Hermes Inc. lifted its position in Globe Life by 107.0% in the 2nd quarter. Federated Hermes Inc. now owns 31,612 shares of the company’s stock valued at $2,601,000 after acquiring an additional 16,338 shares in the last quarter. Nuance Investments LLC raised its stake in shares of Globe Life by 38.9% in the second quarter. Nuance Investments LLC now owns 445,632 shares of the company’s stock worth $36,667,000 after purchasing an additional 124,850 shares during the last quarter. Equity Investment Corp increased its holdings in Globe Life by 21.9% in the 2nd quarter. Equity Investment Corp now owns 1,036,389 shares of the company’s stock worth $85,274,000 after buying an additional 185,859 shares in the last quarter. Finally, Achmea Investment Management B.V. raised its holdings in shares of Globe Life by 151.4% during the second quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company’s stock valued at $2,443,000 after purchasing an additional 17,878 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Globe Life news, Director Mary E. Thigpen acquired 3,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was acquired at an average cost of $90.20 per share, with a total value of $270,600.00. Following the purchase, the director now directly owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.51% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Raymond James reaffirmed a “strong-buy” rating on shares of Globe Life in a report on Tuesday, May 21st. Evercore ISI boosted their price target on Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a research note on Wednesday, June 26th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $118.00 price objective (up previously from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Morgan Stanley boosted their target price on shares of Globe Life from $66.00 to $83.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Finally, Jefferies Financial Group upped their target price on shares of Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a report on Friday, June 28th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $108.33.

Globe Life Trading Up 1.5 %

Globe Life stock opened at $103.80 on Monday. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00. The firm’s 50 day moving average price is $94.71 and its 200-day moving average price is $92.81. 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 stock has a market cap of $9.35 billion, a P/E ratio of 9.91 and a beta of 0.81.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. Globe Life’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.61 EPS. On average, equities analysts predict that Globe Life Inc. will post 11.93 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.92%. The ex-dividend date is Friday, October 4th. Globe Life’s dividend payout ratio is presently 9.17%.

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.