Cobblestone Capital Advisors LLC NY Acquires Shares of 2,000 Globe Life Inc. (NYSE:GL)

Cobblestone Capital Advisors LLC NY bought a new position in Globe Life Inc. (NYSE:GL) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 2,000 shares of the company’s stock, valued at approximately $212,000.

Several other large investors have also recently modified their holdings of GL. Riverview Trust Co bought a new stake in Globe Life in the third quarter worth $32,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Globe Life by 88.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after acquiring an additional 281 shares during the last quarter. LRI Investments LLC boosted its stake in shares of Globe Life by 898.4% during the 2nd quarter. LRI Investments LLC now owns 619 shares of the company’s stock worth $51,000 after purchasing an additional 557 shares during the period. Family Firm Inc. bought a new position in Globe Life during the 2nd quarter valued at about $54,000. Finally, Blue Trust Inc. raised its position in 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 during the period. Institutional investors own 81.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Truist Financial boosted their target price on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods boosted their price objective on Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. TD Cowen initiated coverage on Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price on the stock. Piper Sandler boosted their target price on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Morgan Stanley upped their price target on shares of Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and an average target price of $124.50.

Globe Life Stock Performance

GL stock opened at $111.24 on Monday. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The business has a 50-day moving average price of $108.15 and a 200 day moving average price of $96.56. The company has a market capitalization of $9.34 billion, a P/E ratio of 9.41 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.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the business posted $2.71 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts forecast that Globe Life Inc. will post 12.31 EPS for the current fiscal year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 8th will be given a dividend of $0.24 per share. The ex-dividend date 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%.

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.