Bank of Nova Scotia Has $8.27 Million Stock Holdings in Globe Life Inc. $GL

Bank of Nova Scotia grew its stake in shares of Globe Life Inc. (NYSE:GL) by 91.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 66,514 shares of the company’s stock after acquiring an additional 31,713 shares during the quarter. Bank of Nova Scotia’s holdings in Globe Life were worth $8,267,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Global Assets Advisory LLC acquired a new position in Globe Life in the second quarter valued at about $25,000. AdvisorNet Financial Inc grew its stake in Globe Life by 60.0% during the second quarter. AdvisorNet Financial Inc now owns 224 shares of the company’s stock worth $28,000 after buying an additional 84 shares in the last quarter. Assetmark Inc. increased its holdings in Globe Life by 777.8% in the 2nd quarter. Assetmark Inc. now owns 237 shares of the company’s stock valued at $29,000 after buying an additional 210 shares during the period. TD Private Client Wealth LLC acquired a new position in shares of Globe Life in the 2nd quarter valued at approximately $39,000. Finally, SouthState Corp acquired a new position in shares of Globe Life in the 1st quarter valued at approximately $43,000. Institutional investors own 81.61% of the company’s stock.

Globe Life Trading Up 1.3%

Shares of GL stock opened at $134.82 on Thursday. Globe Life Inc. has a twelve month low of $102.44 and a twelve month high of $147.83. The stock’s fifty day simple moving average is $133.82 and its 200 day simple moving average is $132.27. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $10.73 billion, a P/E ratio of 9.77 and a beta of 0.48.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.54 by $0.27. Globe Life had a return on equity of 21.81% and a net margin of 19.36%.The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the firm posted $3.44 earnings per share. Globe Life has set its FY 2026 guidance at 14.600-15.300 EPS and its FY 2025 guidance at 14.400-14.600 EPS. As a group, sell-side analysts predict that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Monday, January 5th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, January 5th. Globe Life’s payout ratio is currently 7.83%.

Wall Street Analyst Weigh In

GL has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Globe Life in a research report on Monday. Keefe, Bruyette & Woods lifted their price target on Globe Life from $160.00 to $162.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Truist Financial boosted their price target on Globe Life from $150.00 to $158.00 and gave the stock a “buy” rating in a report on Friday, October 24th. Morgan Stanley dropped their price objective on Globe Life from $179.00 to $177.00 and set an “overweight” rating for the company in a research report on Monday, November 17th. Finally, Wells Fargo & Company decreased their target price on Globe Life from $172.00 to $170.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $160.75.

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.