Globe Life (NYSE:GL - Free Report) had its price target increased by JPMorgan Chase & Co. from $145.00 to $160.00 in a report released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.
Other equities analysts also recently issued reports about the stock. Wall Street Zen upgraded shares of Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Piper Sandler cut their price objective on Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Morgan Stanley increased their target price on Globe Life from $117.00 to $125.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Finally, Wells Fargo & Company cut their price target on Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Globe Life has a consensus rating of "Moderate Buy" and a consensus target price of $139.09.
Check Out Our Latest Stock Report on Globe Life
Globe Life Price Performance
Shares of GL traded down $0.12 during mid-day trading on Tuesday, hitting $121.09. The company's stock had a trading volume of 931,730 shares, compared to its average volume of 708,959. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.43. Globe Life has a 1-year low of $80.36 and a 1-year high of $133.76. The firm has a market capitalization of $9.99 billion, a P/E ratio of 9.57 and a beta of 0.56. The firm has a 50-day simple moving average of $121.16 and a 200 day simple moving average of $121.07.
Globe Life (NYSE:GL - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $3.07 EPS for the quarter, missing analysts' consensus estimates of $3.24 by ($0.17). Globe Life had a net margin of 18.33% and a return on equity of 21.44%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the business posted $2.78 EPS. Globe Life's revenue was up 4.5% compared to the same quarter last year. Analysts predict that Globe Life will post 13.87 EPS 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 issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.89%. The ex-dividend date is Thursday, July 3rd. Globe Life's dividend payout ratio (DPR) is 8.79%.
Insider Activity at Globe Life
In related news, CEO Frank M. Svoboda sold 6,019 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $122.51, for a total value of $737,387.69. Following the sale, the chief executive officer directly owned 31,298 shares of the company's stock, valued at approximately $3,834,317.98. This trade represents a 16.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.97% of the stock is currently owned by corporate insiders.
Institutional Trading of Globe Life
Several institutional investors have recently made changes to their positions in the stock. Amalgamated Bank grew its position in Globe Life by 0.5% in the first quarter. Amalgamated Bank now owns 16,348 shares of the company's stock valued at $2,153,000 after acquiring an additional 85 shares in the last quarter. HighPoint Advisor Group LLC grew its position in shares of Globe Life by 4.0% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,271 shares of the company's stock worth $276,000 after acquiring an additional 87 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in Globe Life by 4.0% during the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company's stock worth $256,000 after purchasing an additional 88 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Globe Life by 0.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 19,776 shares of the company's stock valued at $2,605,000 after buying an additional 89 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Globe Life by 32.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $41,000 after purchasing an additional 90 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.
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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