Globe Life (NYSE:GL) Stock Price Up 5%

Shares of Globe Life Inc. (NYSE:GL) rose 5% during trading on Tuesday . The company traded as high as $58.86 and last traded at $58.58. Approximately 2,474,223 shares traded hands during mid-day trading, an increase of 44% from the average daily volume of 1,717,864 shares. The stock had previously closed at $55.81.

Wall Street Analysts Forecast Growth

GL has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Globe Life from a “hold” rating to a “buy” rating in a research note on Friday. Truist Financial reaffirmed a “hold” rating and set a $125.00 price objective on shares of Globe Life in a research report on Friday. Evercore ISI lowered their price objective on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research report on Friday. JPMorgan Chase & Co. upped their target price 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, Wells Fargo & Company decreased their target price on shares of Globe Life from $146.00 to $132.00 and set an “overweight” rating for the company in a research report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Globe Life presently has an average rating of “Moderate Buy” and a consensus target price of $126.44.

Globe Life Stock Up 7.6 %

The business’s fifty day moving average price is $116.57 and its 200 day moving average price is $117.92. The company has a market capitalization of $5.65 billion, a P/E ratio of 5.92 and a beta of 0.69. 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 announced 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. Globe Life had a net margin of 17.82% and a return on equity of 24.25%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the firm posted $2.24 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts predict that Globe Life Inc. will post 11.6 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a yield of 1.60%. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s payout ratio is presently 9.52%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Lindbrook Capital LLC increased its holdings in 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 buying an additional 92 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Globe Life by 4.9% in the third quarter. Sequoia Financial Advisors LLC now owns 2,111 shares of the company’s stock valued at $230,000 after purchasing an additional 99 shares during the last quarter. Waverly Advisors LLC increased its holdings in shares of Globe Life by 1.9% in the fourth quarter. Waverly Advisors LLC now owns 5,458 shares of the company’s stock valued at $664,000 after purchasing an additional 100 shares during the last quarter. Ascent Group LLC increased its holdings in shares of Globe Life by 3.2% in the fourth quarter. Ascent Group LLC now owns 3,426 shares of the company’s stock valued at $413,000 after purchasing an additional 105 shares during the last quarter. Finally, Raymond James Trust N.A. grew its stake in shares of Globe Life by 4.0% in the second quarter. Raymond James Trust N.A. now owns 2,725 shares of the company’s stock valued at $299,000 after acquiring an additional 106 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.