Globe Life (NYSE:GL) Rating Increased to Outperform at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Globe Life (NYSE:GL) from a market perform rating to an outperform rating in a report published on Wednesday, MarketBeat reports. The firm currently has $110.00 price target on the stock, down from their prior price target of $130.00.

A number of other equities analysts also recently commented on GL. Truist Financial restated a hold rating and set a $125.00 target price on shares of Globe Life in a report on Friday, April 12th. Piper Sandler lowered their price objective on shares of Globe Life from $143.00 to $130.00 and set an overweight rating for the company in a report on Friday, April 5th. StockNews.com downgraded Globe Life from a buy rating to a hold rating in a report on Saturday, April 20th. JPMorgan Chase & Co. increased their target price on Globe Life from $133.00 to $136.00 and gave the stock an overweight rating in a research report on Thursday, February 8th. Finally, Evercore ISI dropped their price target on Globe Life from $125.00 to $75.00 and set an in-line rating on the stock in a research report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $114.33.

Globe Life Price Performance

Shares of Globe Life stock opened at $75.75 on Wednesday. The company’s fifty day simple moving average is $106.65 and its two-hundred day simple moving average is $115.30. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00. The firm has a market cap of $7.12 billion, a PE ratio of 7.23 and a beta of 0.69. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36.

Globe Life (NYSE:GL) last posted its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.42 billion. Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.53 earnings per share. As a group, equities analysts expect that Globe Life will post 11.73 EPS for the current year.

Globe Life Increases Dividend

The business also recently disclosed 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 a boost from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a yield of 1.27%. Globe Life’s payout ratio is presently 9.17%.

Insider Transactions at Globe Life

In other news, Director David A. Rodriguez acquired 1,500 shares of Globe Life stock in a transaction on Wednesday, April 24th. The stock was acquired at an average cost of $79.72 per share, for a total transaction of $119,580.00. Following the purchase, the director now owns 4,192 shares in the company, valued at $334,186.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Rebecca E. Zorn sold 2,320 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total transaction of $179,336.00. Following the transaction, the executive vice president now directly owns 10,220 shares of the company’s stock, valued at $790,006. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David A. Rodriguez acquired 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The shares were acquired at an average cost of $79.72 per share, for a total transaction of $119,580.00. Following the completion of the transaction, the director now directly owns 4,192 shares of the company’s stock, valued at $334,186.24. The disclosure for this purchase can be found here. Insiders own 1.51% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Private Wealth Management Group LLC bought a new stake in Globe Life in the 4th quarter worth approximately $27,000. Private Trust Co. NA grew its holdings 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 period. BKM Wealth Management LLC purchased a new stake in Globe Life during the fourth quarter valued at $28,000. Lindbrook Capital LLC lifted its holdings in Globe Life by 62.2% in the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after acquiring an additional 92 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew 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 valued at $34,000 after purchasing an additional 177 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

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.