Globe Life (NYSE:GL) Stock Price Up 5%

Globe Life Inc. (NYSE:GL) rose 5% during trading on Tuesday . The company traded as high as $58.86 and last traded at $58.58. Approximately 2,474,223 shares were traded during trading, an increase of 44% from the average daily volume of 1,717,864 shares. The stock had previously closed at $55.81.

Analyst Ratings Changes

GL has been the topic of a number of recent analyst reports. Evercore ISI lowered 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. Truist Financial reissued a “hold” rating and issued a $125.00 price objective on shares of Globe Life in a report on Friday. JPMorgan Chase & Co. lifted their price objective on Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Keefe, Bruyette & Woods decreased their price objective on Globe Life from $135.00 to $130.00 and set a “market perform” rating for the company in a report on Wednesday, April 10th. Finally, StockNews.com upgraded Globe Life from a “hold” rating to a “buy” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Globe Life has a consensus rating of “Moderate Buy” and a consensus price target of $126.44.

Globe Life Stock Performance

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 stock has a market cap of $5.65 billion, a PE ratio of 5.92 and a beta of 0.69. The business has a 50 day moving average price of $116.57 and a two-hundred day moving average price of $117.92.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.15. The business had revenue of $1.42 billion during 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 quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.24 earnings per share. As a group, equities research analysts forecast that Globe Life Inc. will post 11.6 EPS for the current fiscal year.

Globe Life Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a $0.24 dividend. This is an increase from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a yield of 1.60%. Globe Life’s dividend payout ratio is 9.52%.

Hedge Funds Weigh In On Globe Life

Several institutional investors and hedge funds have recently modified their holdings of the stock. Private Trust Co. NA raised its position in Globe Life by 270.0% in the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after purchasing an additional 162 shares during the period. Private Wealth Management Group LLC purchased a new stake in Globe Life during the fourth quarter valued at approximately $27,000. BKM Wealth Management LLC purchased a new stake in Globe Life during the fourth quarter valued at approximately $28,000. Lindbrook Capital LLC lifted its position in Globe Life by 62.2% during the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after acquiring an additional 92 shares during the last quarter. Finally, Sunbelt Securities Inc. purchased a new stake in Globe Life during the first quarter valued at approximately $29,000. 81.61% of the stock is currently owned by 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.