Globe Life (NYSE:GL) Sees Large Volume Increase

Globe Life Inc. (NYSE:GL) saw an uptick in trading volume on Wednesday . 1,596,375 shares changed hands during trading, a decline of 20% from the previous session’s volume of 1,989,671 shares.The stock last traded at $79.25 and had previously closed at $75.76.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased 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. Wells Fargo & Company cut their target price on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a research report on Wednesday. Piper Sandler decreased their target price on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods upgraded shares of Globe Life from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $130.00 to $110.00 in a report on Wednesday. Finally, Evercore ISI cut their price objective on Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a report on Friday, April 12th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $114.33.

Globe Life Stock Down 3.9 %

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 business’s fifty day moving average price is $107.65 and its two-hundred day moving average price is $115.54. The firm has a market cap of $7.10 billion, a P/E ratio of 7.21 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 period in the previous year, the company earned $2.53 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Globe Life Inc. will post 11.68 EPS for the current 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. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Thursday, April 4th. Globe Life’s dividend payout ratio is currently 9.17%.

Hedge Funds Weigh In On Globe Life

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Lindbrook Capital LLC increased its position in shares of Globe Life by 62.2% during the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after purchasing an additional 92 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Globe Life by 4.9% during the third quarter. Sequoia Financial Advisors LLC now owns 2,111 shares of the company’s stock worth $230,000 after buying an additional 99 shares in the last quarter. Stonegate Investment Group LLC raised its stake in shares of Globe Life by 0.3% in the fourth quarter. Stonegate Investment Group LLC now owns 34,123 shares of the company’s stock valued at $4,153,000 after acquiring an additional 116 shares during the last quarter. Brown Advisory Inc. raised its stake in shares of Globe Life by 3.0% in the third quarter. Brown Advisory Inc. now owns 4,127 shares of the company’s stock valued at $449,000 after acquiring an additional 121 shares during the last quarter. Finally, Tectonic Advisors LLC boosted its holdings in shares of Globe Life by 5.3% in the 4th quarter. Tectonic Advisors LLC now owns 2,960 shares of the company’s stock worth $360,000 after acquiring an additional 150 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.