Heritage Oak Wealth Advisors LLC Makes New Investment in Globe Life Inc. (NYSE:GL)

Heritage Oak Wealth Advisors LLC bought a new position in Globe Life Inc. (NYSE:GL) in the third quarter, Holdings Channel reports. The institutional investor bought 2,700 shares of the company’s stock, valued at approximately $286,000.

Several other institutional investors have also modified their holdings of the stock. UMB Bank n.a. raised its position in shares of Globe Life by 7.7% during the 3rd quarter. UMB Bank n.a. now owns 1,357 shares of the company’s stock valued at $144,000 after buying an additional 97 shares during the period. Commonwealth Equity Services LLC increased its stake in Globe Life by 0.5% during the first quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock worth $4,082,000 after acquiring an additional 167 shares during the last quarter. Perigon Wealth Management LLC raised its position in Globe Life by 7.6% in the first quarter. Perigon Wealth Management LLC now owns 2,619 shares of the company’s stock valued at $305,000 after purchasing an additional 184 shares during the period. Bruce G. Allen Investments LLC lifted its stake in shares of Globe Life by 33.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 806 shares of the company’s stock valued at $66,000 after purchasing an additional 201 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Globe Life by 29.6% in the 3rd quarter. Blue Trust Inc. now owns 1,006 shares of the company’s stock valued at $107,000 after purchasing an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GL shares. Morgan Stanley boosted their price objective on shares of Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $118.00 price objective (up previously from $110.00) on shares of Globe Life in a research report on Wednesday, July 31st. Truist Financial lifted their target price on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a report on Friday. Wells Fargo & Company raised their price objective 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. Finally, Jefferies Financial Group upped their target price on shares of Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, June 28th. Five equities research 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $123.80.

Globe Life Price Performance

Shares of GL opened at $105.15 on Friday. The firm has a market capitalization of $9.47 billion, a price-to-earnings ratio of 10.04 and a beta of 0.81. The firm’s fifty day simple moving average is $105.37 and its 200-day simple moving average is $90.88. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.31.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the business earned $2.71 EPS. Globe Life’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities analysts forecast that Globe Life Inc. will post 11.93 EPS for the current fiscal year.

Globe Life Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Friday, October 4th. Globe Life’s dividend payout ratio (DPR) is 9.17%.

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.