State of New Jersey Common Pension Fund D increased its stake in shares of Globe Life Inc. (NYSE:GL – Free Report) by 2.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 37,983 shares of the company’s stock after acquiring an additional 971 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Globe Life were worth $4,023,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in the stock. Riverview Trust Co acquired a new position in Globe Life during the 3rd quarter worth $32,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of Globe Life by 88.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after purchasing an additional 281 shares during the last quarter. LRI Investments LLC bought a new stake in Globe Life during the 1st quarter valued at approximately $72,000. Family Firm Inc. acquired a new stake in Globe Life in the 2nd quarter valued at approximately $54,000. Finally, Intact Investment Management Inc. bought a new position in Globe Life in the 3rd quarter worth approximately $73,000. 81.61% of the stock is owned by institutional investors.
Globe Life Price Performance
Globe Life stock opened at $110.35 on Wednesday. The business has a 50 day simple moving average of $106.66 and a 200 day simple moving average of $94.15. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The company has a market capitalization of $9.26 billion, a PE ratio of 9.34 and a beta of 0.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05.
Analysts Set New Price Targets
Several research firms have recently weighed in on GL. Morgan Stanley raised their price objective on shares of Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Raymond James raised their price target on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods upped their price objective on shares of Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. 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 research report on Thursday, October 10th. Finally, Truist Financial boosted their price target on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Five 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 stock. According to data from MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and an average target price of $124.50.
Check Out Our Latest Research Report on GL
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.
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