Globe Life (NYSE:GL) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Globe Life (NYSE:GL) from a hold rating to a buy rating in a report issued on Friday morning.

Other equities research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods lowered their target price on shares of Globe Life from $135.00 to $130.00 and set a market perform rating for the company in a research note on Wednesday, April 10th. Wells Fargo & Company dropped their target price on Globe Life from $146.00 to $132.00 and set an overweight rating on the stock in a research note on Thursday, April 11th. Truist Financial reiterated a hold rating and issued a $125.00 price target on shares of Globe Life in a research note on Friday. JPMorgan Chase & Co. raised their price target on Globe Life from $133.00 to $136.00 and gave the stock an overweight rating in a report on Thursday, February 8th. Finally, Evercore ISI cut their price objective on shares of Globe Life from $125.00 to $75.00 and set an in-line rating on the stock in a report on Friday. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $126.44.

Globe Life Stock Performance

Shares of NYSE:GL opened at $55.82 on Friday. The firm has a 50 day moving average of $116.57 and a 200 day moving average of $117.92. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 5.54 and a beta of 0.69. Globe Life has a 52 week low of $38.95 and a 52 week high of $132.00.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.73 by $0.15. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. Globe Life had a return on equity of 24.25% and a net margin of 17.82%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.24 earnings per share. On average, sell-side analysts predict that Globe Life will post 11.6 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.72%. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s dividend payout ratio is presently 9.52%.

Institutional Investors Weigh In On Globe Life

Several hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its holdings in Globe Life by 488.6% during the fourth quarter. Pacer Advisors Inc. now owns 33,620 shares of the company’s stock worth $4,092,000 after buying an additional 27,908 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Globe Life by 5.2% during the 4th quarter. Arizona State Retirement System now owns 26,061 shares of the company’s stock worth $3,172,000 after acquiring an additional 1,295 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Globe Life by 191.4% in the 4th quarter. SG Americas Securities LLC now owns 32,810 shares of the company’s stock valued at $3,994,000 after purchasing an additional 21,552 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Globe Life by 1.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 37,367 shares of the company’s stock worth $4,548,000 after purchasing an additional 397 shares during the period. Finally, Invesco Ltd. raised its holdings in Globe Life by 3.7% in the 3rd quarter. Invesco Ltd. now owns 1,901,013 shares of the company’s stock worth $206,697,000 after purchasing an additional 67,753 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Company Profile

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.