Globe Life (NYSE:GL) Trading Up 5%

Globe Life Inc. (NYSE:GL)’s share price was up 5% during trading on Tuesday . The company traded as high as $58.86 and last traded at $58.58. Approximately 2,474,223 shares traded hands during mid-day trading, an increase of 44% from the average daily volume of 1,717,864 shares. The stock had previously closed at $55.81.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GL shares. Wells Fargo & Company cut their target price on shares of Globe Life from $146.00 to $132.00 and set an “overweight” rating on the stock in a report on Thursday, April 11th. Truist Financial reaffirmed a “hold” rating and issued a $125.00 target price on shares of Globe Life in a report on Friday, April 12th. Evercore ISI cut their target price on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a report on Friday, April 12th. StockNews.com raised shares of Globe Life from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Finally, Piper Sandler dropped their price objective on shares of Globe Life from $143.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday, April 5th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $126.44.

Globe Life Stock Up 1.1 %

The company has a market capitalization of $6.01 billion, a PE ratio of 6.27 and a beta of 0.69. The firm’s 50-day simple moving average is $114.17 and its 200 day simple moving average is $117.20. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, February 7th. The company reported $2.88 EPS for the quarter, topping the consensus estimate of $2.73 by $0.15. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. Globe Life had a net margin of 17.82% and a return on equity of 24.25%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.24 EPS. As a group, equities research analysts forecast that Globe Life Inc. will post 11.6 earnings per share for the current year.

Globe Life Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a dividend of $0.24 per share. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Thursday, April 4th. Globe Life’s payout ratio is presently 9.52%.

Institutional Investors Weigh In On Globe Life

Several institutional investors and hedge funds have recently made changes to their positions in GL. Private Trust Co. NA boosted its position in shares of Globe Life by 270.0% in the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after buying an additional 162 shares in the last quarter. Private Wealth Management Group LLC purchased a new stake in shares of Globe Life in the 4th quarter worth about $27,000. BKM Wealth Management LLC purchased a new stake in shares of Globe Life in the 4th quarter worth about $28,000. Lindbrook Capital LLC boosted its position in shares of Globe Life by 62.2% in the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after buying an additional 92 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new stake in shares of Globe Life in the 1st quarter worth about $29,000. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

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.