Truist Financial started coverage on shares of Globe Life (NYSE:GL - Free Report) in a report published on Tuesday, MarketBeat reports. The firm issued a buy rating and a $150.00 price target on the stock.
A number of other research firms have also recently issued reports on GL. Wells Fargo & Company lifted their price target on shares of Globe Life from $139.00 to $144.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. lifted their price target on shares of Globe Life from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Morgan Stanley set a $127.00 price target on shares of Globe Life and gave the company an "equal weight" rating in a research note on Monday. Wall Street Zen raised shares of Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, Piper Sandler reduced their price target on Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Globe Life currently has an average rating of "Moderate Buy" and an average target price of $143.82.
Read Our Latest Stock Analysis on Globe Life
Globe Life Stock Performance
NYSE:GL traded up $1.82 during midday trading on Tuesday, hitting $121.72. The company's stock had a trading volume of 541,823 shares, compared to its average volume of 705,028. The firm has a market cap of $10.05 billion, a P/E ratio of 9.90 and a beta of 0.56. Globe Life has a fifty-two week low of $86.10 and a fifty-two week high of $133.76. The firm's 50 day moving average is $120.86 and its 200-day moving average is $121.35. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.07 and a quick ratio of 0.07.
Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $3.07 EPS for the quarter, missing analysts' consensus estimates of $3.24 by ($0.17). The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. Globe Life had a return on equity of 21.44% and a net margin of 18.33%. Globe Life's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.78 EPS. Equities analysts anticipate that Globe Life will post 13.87 earnings per share for the current fiscal year.
Globe Life Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Thursday, July 3rd. Globe Life's payout ratio is 8.79%.
Insider Transactions at Globe Life
In other news, CEO Frank M. Svoboda sold 6,019 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $122.51, for a total value of $737,387.69. Following the transaction, the chief executive officer directly owned 31,298 shares in the company, valued at $3,834,317.98. This trade represents a 16.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.51% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. AdvisorNet Financial Inc lifted its holdings in Globe Life by 60.0% during the 2nd quarter. AdvisorNet Financial Inc now owns 224 shares of the company's stock worth $28,000 after buying an additional 84 shares during the last quarter. TD Private Client Wealth LLC bought a new stake in Globe Life during the 2nd quarter valued at $39,000. SouthState Corp bought a new stake in shares of Globe Life in the 1st quarter worth $43,000. EverSource Wealth Advisors LLC raised its stake in shares of Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $41,000 after buying an additional 90 shares in the last quarter. Finally, Ransom Advisory Ltd bought a new stake in shares of Globe Life in the 1st quarter worth $50,000. 81.61% of the stock is owned by institutional investors and hedge funds.
About Globe Life
(
Get Free Report)
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.
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