Globe Life Inc. (NYSE:GL - Get Free Report) saw an uptick in trading volume on Wednesday . 1,596,375 shares were traded during mid-day trading, a decline of 20% from the previous session's volume of 1,989,671 shares.The stock last traded at $79.25 and had previously closed at $75.76.
Analyst Upgrades and Downgrades
GL has been the topic of a number of research reports. Piper Sandler decreased their target price on shares of Globe Life from $130.00 to $110.00 and set an "overweight" rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on shares of Globe Life from $133.00 to $136.00 and gave the stock an "overweight" rating in a research note on Thursday, February 8th. StockNews.com lowered shares of Globe Life from a "buy" rating to a "hold" rating in a research note on Saturday. Truist Financial decreased their target price on shares of Globe Life from $125.00 to $80.00 and set a "hold" rating on the stock in a research note on Wednesday. Finally, Keefe, Bruyette & Woods raised shares of Globe Life from a "market perform" rating to an "outperform" rating and decreased their target price for the stock from $130.00 to $110.00 in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $114.33.
Read Our Latest Stock Report on GL
Globe Life Price Performance
The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $7.39 billion, a PE ratio of 7.51 and a beta of 0.69. The company's 50 day moving average price is $108.65 and its 200-day moving average price is $115.82.
Globe Life (NYSE:GL - Get Free Report) last released its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). The company 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%. Globe Life's revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.53 EPS. On average, sell-side analysts forecast that Globe Life Inc. will post 11.6 earnings per share for the current fiscal year.
Globe Life Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a $0.24 dividend. This is a boost from Globe Life's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, April 4th. Globe Life's dividend payout ratio (DPR) is currently 9.17%.
Hedge Funds Weigh In On Globe Life
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GL. Private Trust Co. NA boosted its position 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 buying an additional 162 shares during the period. Private Wealth Management Group LLC acquired a new stake in shares of Globe Life in the fourth quarter worth $27,000. BKM Wealth Management LLC acquired a new stake in shares of Globe Life in the fourth quarter worth $28,000. Lindbrook Capital LLC boosted its position in shares of Globe Life by 62.2% in the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company's stock worth $29,000 after buying an additional 92 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of Globe Life by 177.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company's stock worth $34,000 after buying an additional 177 shares during the period. 81.61% of the stock is owned by institutional investors.
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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