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

StockNews.com cut shares of Globe Life (NYSE:GL) from a buy rating to a hold rating in a research note published on Saturday.

GL has been the subject of several other research reports. Keefe, Bruyette & Woods reduced 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 note on Wednesday, April 10th. Evercore ISI cut their target price on shares of Globe Life from $125.00 to $75.00 and set an in-line rating for the company in a research report on Friday, April 12th. JPMorgan Chase & Co. boosted their target price 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. Piper Sandler cut their target price on shares of Globe Life from $143.00 to $130.00 and set an overweight rating for the company in a research report on Friday, April 5th. Finally, 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 report on Thursday, April 11th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $126.44.

Globe Life Stock Down 0.5 %

GL stock opened at $66.39 on Friday. 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 has a 1 year low of $38.95 and a 1 year high of $132.00. The company has a fifty day simple moving average of $110.58 and a 200 day simple moving average of $116.35. The firm has a market cap of $6.24 billion, a PE ratio of 6.59 and a beta of 0.69.

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

Globe Life Increases Dividend

The business also recently disclosed 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. 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 annualized dividend and a dividend yield of 1.45%. Globe Life’s payout ratio is presently 9.52%.

Institutional Trading of Globe Life

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Globe Life by 1.7% in the third quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock valued at $1,183,175,000 after acquiring an additional 181,824 shares during the period. JPMorgan Chase & Co. boosted its position in Globe Life by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 4,247,993 shares of the company’s stock valued at $461,884,000 after buying an additional 168,127 shares in the last quarter. Cooke & Bieler LP boosted its position in Globe Life by 2.0% in the fourth quarter. Cooke & Bieler LP now owns 2,357,839 shares of the company’s stock valued at $286,996,000 after buying an additional 45,227 shares in the last quarter. Invesco Ltd. boosted its position in Globe Life by 3.7% in the third quarter. Invesco Ltd. now owns 1,901,013 shares of the company’s stock valued at $206,697,000 after buying an additional 67,753 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Globe Life by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,200,369 shares of the company’s stock valued at $146,109,000 after buying an additional 29,560 shares in the last quarter. 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.