Morgan Stanley set a $127.00 price objective on Globe Life (NYSE:GL - Free Report) in a research note issued to investors on Monday, Marketbeat reports. The firm currently has an equal weight rating on the stock.
A number of other brokerages have also weighed in on GL. JPMorgan Chase & Co. boosted their price target on Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Wall Street Zen upgraded Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Wells Fargo & Company upped their target price on Globe Life from $139.00 to $144.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Finally, Piper Sandler dropped their target price on Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $143.82.
View Our Latest Stock Analysis on Globe Life
Globe Life Stock Down 1.9%
Shares of GL stock traded down $2.32 during trading hours on Monday, reaching $118.37. 165,560 shares of the company's stock were exchanged, compared to its average volume of 706,785. Globe Life has a 1 year low of $85.86 and a 1 year high of $133.76. The stock has a market cap of $9.77 billion, a PE ratio of 9.64 and a beta of 0.56. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.43. The stock's fifty day moving average price is $120.95 and its two-hundred day moving average price is $121.31.
Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share for the quarter, missing analysts' consensus estimates of $3.24 by ($0.17). Globe Life had a return on equity of 21.44% and a net margin of 18.33%. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter in the previous year, the firm posted $2.78 EPS. Globe Life's revenue was up 4.5% on a year-over-year basis. Research analysts predict that Globe Life will post 13.87 EPS for the current year.
Globe Life Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be given a $0.27 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.08 annualized dividend and a yield of 0.91%. Globe Life's dividend payout ratio is presently 8.79%.
Insider Buying and Selling
In other Globe Life news, CEO Frank M. Svoboda sold 6,019 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $122.51, for a total value of $737,387.69. Following the sale, the chief executive officer owned 31,298 shares in the company, valued at approximately $3,834,317.98. This represents a 16.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.97% of the company's stock.
Institutional Investors Weigh In On Globe Life
Several hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Globe Life during the 4th quarter valued at approximately $112,454,000. Nuveen LLC purchased a new position in shares of Globe Life during the 1st quarter valued at approximately $131,608,000. GAMMA Investing LLC lifted its holdings in Globe Life by 15,553.5% in the 1st quarter. GAMMA Investing LLC now owns 781,890 shares of the company's stock valued at $102,991,000 after purchasing an additional 776,895 shares in the last quarter. Freestone Grove Partners LP purchased a new position in Globe Life in the 4th quarter valued at $52,178,000. Finally, Marshall Wace LLP lifted its holdings in Globe Life by 1,702.5% in the 4th quarter. Marshall Wace LLP now owns 484,692 shares of the company's stock valued at $54,053,000 after purchasing an additional 457,802 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company's stock.
Globe Life Company Profile
(
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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