Truist Financial Trims Globe Life (NYSE:GL) Target Price to $80.00

Globe Life (NYSE:GL) had its target price lowered by Truist Financial from $125.00 to $80.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has a hold rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Keefe, Bruyette & Woods raised Globe Life from a market perform rating to an outperform rating and dropped their target price for the stock from $130.00 to $110.00 in a report on Wednesday. Wells Fargo & Company dropped their target price on Globe Life from $146.00 to $132.00 and set an overweight rating for the company in a report on Thursday, April 11th. StockNews.com cut Globe Life from a buy rating to a hold rating in a report on Saturday, April 20th. JPMorgan Chase & Co. increased their target price on Globe Life from $133.00 to $136.00 and gave the stock an overweight rating in a report on Thursday, February 8th. Finally, Piper Sandler dropped their price target on Globe Life from $143.00 to $130.00 and set an overweight rating for the company in a report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $114.33.

Globe Life Price Performance

Shares of GL stock opened at $78.60 on Wednesday. The stock has a 50 day moving average of $108.65 and a two-hundred day moving average of $115.82. 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 12 month low of $38.95 and a 12 month high of $132.00. The company has a market capitalization of $7.39 billion, a P/E ratio of 7.51 and a beta of 0.69.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the business posted $2.53 EPS. Globe Life’s revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts expect that Globe Life will post 11.6 EPS for the current year.

Globe Life Increases Dividend

The company also recently announced 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. This is a boost from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, April 4th. Globe Life’s dividend payout ratio (DPR) is 9.17%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Trust Co. NA boosted its position 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 worth $27,000 after purchasing an additional 162 shares during the last quarter. Private Wealth Management Group LLC bought a new position in shares of Globe Life in the 4th quarter worth $27,000. BKM Wealth Management LLC bought a new position in shares of Globe Life in the 4th quarter worth $28,000. Lindbrook Capital LLC boosted its position in shares of Globe Life by 62.2% in the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after purchasing an additional 92 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of Globe Life by 177.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock worth $34,000 after purchasing an additional 177 shares during the last quarter. 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.