Prospector Partners LLC Has $22.55 Million Stake in Globe Life Inc. (NYSE:GL)

Prospector Partners LLC grew its position in shares of Globe Life Inc. (NYSE:GL) by 0.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 212,958 shares of the company’s stock after buying an additional 932 shares during the quarter. Globe Life accounts for approximately 2.4% of Prospector Partners LLC’s investment portfolio, making the stock its 9th largest holding. Prospector Partners LLC’s holdings in Globe Life were worth $22,554,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Savant Capital LLC boosted its holdings in shares of Globe Life by 951.5% in the 2nd quarter. Savant Capital LLC now owns 75,214 shares of the company’s stock worth $6,189,000 after acquiring an additional 68,061 shares in the last quarter. Achmea Investment Management B.V. raised its position in Globe Life by 151.4% in the 2nd 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. WINTON GROUP Ltd acquired a new position in Globe Life in the second quarter worth $15,483,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Globe Life by 5.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 198,945 shares of the company’s stock worth $23,153,000 after purchasing an additional 9,497 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Globe Life by 85.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company’s stock valued at $2,095,000 after buying an additional 9,141 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GL shares. Raymond James upped 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. Truist Financial upped their target price on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Morgan Stanley raised their price target on shares of Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Wells Fargo & Company upped their price objective on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, TD Cowen started coverage on Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price for the company. 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’s stock. According to data from MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and a consensus price target of $124.50.

Globe Life Stock Up 0.8 %

Shares of Globe Life stock opened at $111.41 on Tuesday. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. The business has a fifty day simple moving average of $107.76 and a 200 day simple moving average of $95.93. 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 stock has a market cap of $9.35 billion, a PE ratio of 9.43 and a beta of 0.81.

Globe Life (NYSE:GL) last announced its quarterly 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. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. Globe Life’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.71 EPS. Research analysts predict that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 8th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 annualized dividend and a yield of 0.86%. Globe Life’s dividend payout ratio (DPR) is presently 8.12%.

About Globe Life

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.