Bridgewater Associates LP Invests $8.74 Million in Globe Life Inc. (NYSE:GL)

Bridgewater Associates LP acquired a new stake in shares of Globe Life Inc. (NYSE:GL) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 82,560 shares of the company’s stock, valued at approximately $8,744,000.

Other hedge funds have also made changes to their positions in the company. Riverview Trust Co bought a new position in Globe Life during the 3rd quarter valued at $32,000. Benjamin F. Edwards & Company Inc. boosted its stake in Globe Life by 88.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after buying an additional 281 shares in the last quarter. LRI Investments LLC boosted its stake in Globe Life by 898.4% during the second quarter. LRI Investments LLC now owns 619 shares of the company’s stock valued at $51,000 after buying an additional 557 shares in the last quarter. Family Firm Inc. acquired a new position in Globe Life during the second quarter worth about $54,000. Finally, Private Trust Co. NA raised its position in Globe Life by 67.5% in the third quarter. Private Trust Co. NA now owns 670 shares of the company’s stock worth $71,000 after acquiring an additional 270 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GL shares. Raymond James raised their price objective on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 15th. TD Cowen assumed coverage on shares of Globe Life in a research report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price target on the stock. Wells Fargo & Company upped their price target on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods raised their price objective on Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Finally, Piper Sandler boosted their target price on Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Five 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 stock currently has an average rating of “Moderate Buy” and an average price target of $124.50.

Globe Life Stock Performance

Shares of Globe Life stock opened at $111.70 on Friday. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. 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 $9.38 billion, a PE ratio of 9.45 and a beta of 0.81. The business has a fifty day simple moving average of $107.96 and a 200-day simple moving average of $96.22.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company posted $2.71 EPS. On average, sell-side analysts anticipate 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 $0.24 dividend. The ex-dividend date is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.86%. Globe Life’s payout ratio is 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.