Globe Life (NYSE:GL - Free Report) had its price objective upped by Wells Fargo & Company from $139.00 to $144.00 in a report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.
Several other research analysts have also recently commented on the stock. Piper Sandler lowered their price target on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. JPMorgan Chase & Co. boosted their price target on shares of Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a report on Tuesday. Finally, Morgan Stanley boosted their price target on shares of Globe Life from $117.00 to $125.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $139.55.
Get Our Latest Analysis on GL
Globe Life Stock Down 0.8%
Shares of GL stock traded down $0.93 during trading on Thursday, reaching $118.20. The company's stock had a trading volume of 492,032 shares, compared to its average volume of 709,758. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.07 and a quick ratio of 0.07. The company has a market capitalization of $9.76 billion, a price-to-earnings ratio of 9.62 and a beta of 0.56. The stock's 50-day moving average price is $121.02 and its 200 day moving average price is $121.11. Globe Life has a 1-year low of $83.38 and a 1-year high of $133.76.
Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. Globe Life had a net margin of 18.33% and a return on equity of 21.44%. The company's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.78 EPS. On average, research analysts anticipate that Globe Life will post 13.87 EPS for the current year.
Globe Life Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors 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 (DPR) is 8.79%.
Insider Buying and Selling
In related news, CEO Frank M. Svoboda sold 6,019 shares of the company's stock in a transaction 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 completion of the sale, the chief executive officer owned 31,298 shares in the company, valued at $3,834,317.98. This represents a 16.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.51% of the stock is currently owned by company insiders.
Institutional Trading of Globe Life
Several institutional investors and hedge funds have recently bought and sold shares of the business. DAVENPORT & Co LLC purchased a new position in Globe Life during the 1st quarter worth $493,000. Sequoia Financial Advisors LLC increased its holdings in shares of Globe Life by 693.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 24,184 shares of the company's stock valued at $3,185,000 after purchasing an additional 21,136 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Globe Life by 8.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,711 shares of the company's stock valued at $1,260,000 after purchasing an additional 723 shares in the last quarter. Lighthouse Investment Partners LLC increased its holdings in shares of Globe Life by 914.9% in the 4th quarter. Lighthouse Investment Partners LLC now owns 128,266 shares of the company's stock valued at $14,304,000 after purchasing an additional 115,628 shares in the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Globe Life by 50.0% in the 4th quarter. Prudential Financial Inc. now owns 82,749 shares of the company's stock valued at $9,069,000 after purchasing an additional 27,590 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company's stock.
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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