Globe Life (NYSE:GL) Price Target Lowered to $108.00 at Wells Fargo & Company

Globe Life (NYSE:GL) had its price target decreased by Wells Fargo & Company from $132.00 to $108.00 in a report issued on Wednesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other equities research analysts also recently issued reports about the stock. Truist Financial cut their target price on shares of Globe Life from $125.00 to $80.00 and set a hold rating on the stock in a research report on Wednesday. Evercore ISI cut their target price on shares of Globe Life from $125.00 to $75.00 and set an in-line rating on the stock in a research report on Friday, April 12th. Piper Sandler cut their target price on shares of Globe Life from $143.00 to $130.00 and set an overweight rating on the stock in a research report on Friday, April 5th. JPMorgan Chase & Co. boosted their price target 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. Finally, StockNews.com downgraded shares of Globe Life from a buy rating to a hold rating in a research report on Saturday, April 20th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Globe Life presently has an average rating of Moderate Buy and an average target price of $114.33.

Globe Life Trading Up 3.7 %

GL opened at $78.60 on Wednesday. The company’s 50 day moving average is $108.65 and its 200-day moving average is $115.82. Globe Life has a 1-year low of $38.95 and a 1-year high of $132.00. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.36. The company has a market cap of $7.39 billion, a P/E ratio of 7.51 and a beta of 0.69.

Globe Life (NYSE:GL) last posted its earnings results 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 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 business earned $2.53 earnings per share. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. Equities research analysts predict that Globe Life will post 11.6 earnings per share 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 paid a $0.24 dividend. The ex-dividend date is Thursday, April 4th. This represents a $0.96 annualized dividend and a dividend yield of 1.22%. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s payout ratio is currently 9.17%.

Institutional Trading of Globe Life

Several hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in Globe Life during the 4th quarter valued at $123,682,000. Corient Private Wealth LLC increased its stake in Globe Life by 1,367.8% during the 4th quarter. Corient Private Wealth LLC now owns 362,535 shares of the company’s stock valued at $44,128,000 after purchasing an additional 337,836 shares in the last quarter. California Public Employees Retirement System increased its stake in Globe Life by 169.4% during the 4th quarter. California Public Employees Retirement System now owns 484,982 shares of the company’s stock valued at $59,032,000 after purchasing an additional 304,942 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in Globe Life by 141.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 466,896 shares of the company’s stock valued at $50,766,000 after purchasing an additional 273,515 shares in the last quarter. Finally, Nuance Investments LLC bought a new stake in Globe Life during the 4th quarter valued at $30,560,000. Institutional investors own 81.61% of the company’s stock.

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.