Globe Life (NYSE:GL) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Globe Life (NYSE:GL) from a buy rating to a hold rating in a report published on Wednesday morning.

Several other brokerages also recently commented on GL. JPMorgan Chase & Co. lifted their target price on shares of Globe Life from $133.00 to $136.00 and gave the stock an overweight rating in a report on Thursday, February 8th. Truist Financial boosted their price objective on shares of Globe Life from $115.00 to $125.00 and gave the company a hold rating in a report on Friday, February 9th. Finally, Evercore ISI cut their price objective on shares of Globe Life from $138.00 to $125.00 and set an in-line rating for the company in a report on Thursday, March 14th. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Globe Life has an average rating of Moderate Buy and a consensus price target of $133.00.

Globe Life Stock Up 0.1 %

Shares of GL stock opened at $116.60 on Wednesday. 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 $102.23 and a 1 year high of $132.00. The firm’s fifty day moving average price is $122.89 and its two-hundred day moving average price is $118.99. The firm has a market capitalization of $10.97 billion, a P/E ratio of 11.57 and a beta of 0.70.

Globe Life (NYSE:GL) last issued its quarterly earnings results 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. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. Globe Life had a net margin of 17.82% and a return on equity of 24.25%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.24 EPS. On average, equities analysts predict that Globe Life will post 11.57 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. Investors of record on Friday, April 5th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.82%. This is a boost from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, April 4th. Globe Life’s dividend payout ratio is currently 8.93%.

Insider Buying and Selling

In other Globe Life news, CMO Jennifer Allison Haworth sold 2,524 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $121.37, for a total value of $306,337.88. Following the completion of the transaction, the chief marketing officer now directly owns 8,606 shares in the company, valued at approximately $1,044,510.22. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.51% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Globe Life

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Private Wealth Management Group LLC acquired a new position in Globe Life in the 4th quarter valued at approximately $27,000. Private Trust Co. NA boosted its stake in shares of Globe Life by 270.0% in the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after purchasing an additional 162 shares during the last quarter. BKM Wealth Management LLC bought a new stake in shares of Globe Life in the 4th quarter valued at $28,000. Lindbrook Capital LLC boosted its stake in shares of Globe Life by 62.2% in the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after purchasing an additional 92 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in shares of Globe Life in the 1st quarter valued at $29,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

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.