Globe Life (NYSE:GL) Shares Gap Down to $78.09

Globe Life Inc. (NYSE:GL) shares gapped down prior to trading on Tuesday . The stock had previously closed at $78.09, but opened at $72.38. Globe Life shares last traded at $77.07, with a volume of 1,677,987 shares.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GL. Wells Fargo & Company decreased their target price on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Piper Sandler lowered their price objective on Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Evercore ISI cut their target price on Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a research note on Friday, April 12th. JPMorgan Chase & Co. increased their price target on shares of Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Finally, Truist Financial lowered their price target on Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, April 24th. 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $114.33.

Globe Life Stock Performance

The business’s 50 day simple moving average is $104.71 and its two-hundred day simple moving average is $114.81. The firm has a market capitalization of $7.47 billion, a PE ratio of 7.59 and a beta of 0.78. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.36.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the firm earned $2.53 EPS. The business’s revenue was up 7.2% on a year-over-year basis. Research analysts expect that Globe Life Inc. will post 11.72 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th were given a dividend of $0.24 per share. The ex-dividend date was Thursday, April 4th. This represents a $0.96 annualized dividend and a dividend yield of 1.21%. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s dividend payout ratio is presently 9.17%.

Insider Buying and Selling

In other news, EVP Rebecca E. Zorn sold 2,320 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the completion of the sale, the executive vice president now directly owns 10,220 shares in the company, valued at approximately $790,006. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director David A. Rodriguez purchased 1,500 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was acquired at an average cost of $79.72 per share, for a total transaction of $119,580.00. Following the completion of the transaction, the director now directly owns 4,192 shares in the company, valued at approximately $334,186.24. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Rebecca E. Zorn sold 2,320 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the sale, the executive vice president now owns 10,220 shares of the company’s stock, valued at approximately $790,006. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its position in shares of 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 purchasing an additional 27,908 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Globe Life by 5.2% during the fourth quarter. Arizona State Retirement System now owns 26,061 shares of the company’s stock valued at $3,172,000 after buying an additional 1,295 shares during the period. AIA Group Ltd bought a new stake in shares of Globe Life in the fourth quarter valued at about $1,788,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Globe Life by 6.2% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 261,580 shares of the company’s stock valued at $31,840,000 after purchasing an additional 15,329 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in Globe Life by 72.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,637 shares of the company’s stock valued at $443,000 after buying an additional 1,526 shares during the period. Hedge funds and other institutional investors own 81.61% of the company’s stock.

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.