Globe Life (NYSE:GL) PT Lowered to $108.00

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

A number of other analysts also recently weighed in on GL. Evercore ISI cut their target price on 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. StockNews.com downgraded Globe Life from a buy rating to a hold rating in a research report on Saturday, April 20th. JPMorgan Chase & Co. boosted their price target 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 upgraded Globe Life from a market perform rating to an outperform rating and dropped their price objective for the stock from $130.00 to $110.00 in a research report on Wednesday. Finally, Truist Financial dropped their price objective on Globe Life from $125.00 to $80.00 and set a hold rating for the company in a research report on Wednesday. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $114.33.

Globe Life Stock Performance

Shares of NYSE GL opened at $75.75 on Wednesday. The stock has a 50 day moving average of $106.65 and a 200-day moving average of $115.30. The company has a market capitalization of $7.12 billion, a P/E ratio of 7.23 and a beta of 0.69. Globe Life has a 12 month low of $38.95 and a 12 month 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.

Globe Life (NYSE:GL) last released its quarterly earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.53 earnings per share. As a group, equities research analysts predict that Globe Life will post 11.73 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. Shareholders of record on Friday, April 5th will be given a $0.24 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This is an increase from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 1.27%. Globe Life’s dividend payout ratio (DPR) is currently 9.17%.

Insider Buying and Selling at Globe Life

In other news, Director David A. Rodriguez bought 1,500 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was purchased at an average cost of $79.72 per share, for a total transaction of $119,580.00. Following the completion of the transaction, the director now owns 4,192 shares of the company’s stock, valued at $334,186.24. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director David A. Rodriguez bought 1,500 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was purchased at an average cost of $79.72 per share, for a total transaction of $119,580.00. Following the completion of the transaction, the director now owns 4,192 shares of the company’s stock, valued at $334,186.24. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Rebecca E. Zorn sold 2,320 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $77.30, for a total value of $179,336.00. Following the completion of the transaction, the executive vice president now owns 10,220 shares of the company’s stock, valued at $790,006. The disclosure for this sale can be found here. Corporate insiders own 1.51% of the company’s stock.

Hedge Funds Weigh In On Globe Life

A number of hedge funds have recently made changes to their positions in GL. Private Trust Co. NA raised its position in shares of Globe Life by 270.0% during the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after acquiring an additional 162 shares during the last quarter. Private Wealth Management Group LLC bought a new position in shares of Globe Life during the fourth quarter worth about $27,000. BKM Wealth Management LLC bought a new position in shares of Globe Life during the fourth quarter worth about $28,000. Lindbrook Capital LLC raised its position in shares of Globe Life by 62.2% during the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after acquiring an additional 92 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of Globe Life by 177.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock worth $34,000 after acquiring an additional 177 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors.

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.