Globe Life (NYSE:GL) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Globe Life (NYSE:GL) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other research firms also recently commented on GL. Piper Sandler reduced their price objective on shares of Globe Life from $143.00 to $130.00 and set an overweight rating for the company in a research note on Friday, April 5th. Wells Fargo & Company cut their target price on shares of Globe Life from $146.00 to $132.00 and set an overweight rating for the company in a research note on Thursday, April 11th. Truist Financial restated a hold rating and set a $125.00 price objective on shares of Globe Life in a research report on Friday, April 12th. Keefe, Bruyette & Woods cut their price objective on shares of Globe Life from $135.00 to $130.00 and set a market perform rating for the company in a research report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Globe Life from $133.00 to $136.00 and gave the stock an overweight rating in a research report on Thursday, February 8th. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $126.44.

Globe Life Trading Up 14.2 %

Globe Life stock opened at $75.79 on Friday. The firm has a 50-day moving average of $109.59 and a 200-day moving average of $116.08. Globe Life has a one year low of $38.95 and a one year high of $132.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05. The company has a market cap of $7.13 billion, a price-to-earnings ratio of 7.52 and a beta of 0.69.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Globe Life had a return on equity of 24.25% and a net margin of 17.82%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the company earned $2.53 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities analysts expect that Globe Life 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. Stockholders of record on Friday, April 5th will be issued a dividend of $0.24 per share. The ex-dividend date is Thursday, April 4th. This is a boost from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 1.27%. Globe Life’s dividend payout ratio (DPR) is currently 9.52%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Private Wealth Management Group LLC bought a new position in Globe Life in the fourth quarter valued at approximately $27,000. Private Trust Co. NA increased its stake in Globe Life by 270.0% in the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after acquiring an additional 162 shares during the last quarter. BKM Wealth Management LLC bought a new position in Globe Life in the fourth quarter valued at approximately $28,000. Lindbrook Capital LLC boosted its position in Globe Life by 62.2% in the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after buying an additional 92 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Globe Life by 177.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock valued at $34,000 after buying an additional 177 shares in the last quarter. 81.61% of the stock is owned by institutional investors.

About Globe Life

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.