Globe Life (NYSE:GL) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Globe Life (NYSE:GL) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other brokerages also recently commented on GL. Keefe, Bruyette & Woods decreased their target price on Globe Life from $135.00 to $130.00 and set a market perform rating for the company in a research note on Wednesday, April 10th. Wells Fargo & Company decreased their target price on Globe Life from $146.00 to $132.00 and set an overweight rating for the company in a research note on Thursday, April 11th. Piper Sandler decreased their target price on Globe Life from $143.00 to $130.00 and set an overweight rating for the company in a research note on Friday, April 5th. JPMorgan Chase & Co. lifted their target price on Globe Life from $133.00 to $136.00 and gave the company an overweight rating in a research note on Thursday, February 8th. Finally, Truist Financial reiterated a hold rating and set a $125.00 price objective on shares of Globe Life in a research report on Friday, April 12th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $126.44.

Globe Life Stock Up 14.2 %

Shares of NYSE GL opened at $75.79 on Friday. Globe Life has a 1 year low of $38.95 and a 1 year high of $132.00. The firm has a market cap of $7.13 billion, a price-to-earnings ratio of 7.52 and a beta of 0.69. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.05 and a current ratio of 0.05. The stock’s 50-day simple moving average is $109.59 and its 200-day simple moving average is $116.08.

Globe Life (NYSE:GL) last announced its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Globe Life had a return on equity of 24.25% and a net margin of 17.82%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.53 earnings per share. As a group, equities analysts anticipate that Globe Life will post 11.6 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a dividend of $0.24 per share. This is an increase from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 1.27%. The ex-dividend date is Thursday, April 4th. Globe Life’s payout ratio is 9.52%.

Institutional Trading of Globe Life

Several large investors have recently added to or reduced their stakes in GL. Private Trust Co. NA increased its stake in shares of Globe Life by 270.0% in the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after acquiring an additional 162 shares during the last quarter. Private Wealth Management Group LLC purchased a new position in Globe Life in the fourth quarter valued at about $27,000. BKM Wealth Management LLC acquired a new position in Globe Life in the 4th quarter worth about $28,000. Lindbrook Capital LLC increased its position in 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 purchasing an additional 92 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Globe Life by 177.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock worth $34,000 after purchasing an additional 177 shares in the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

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.