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

StockNews.com cut shares of Globe Life (NYSE:GL) from a buy rating to a hold rating in a research report sent to investors on Saturday.

A number of other research firms have also issued reports on GL. Wells Fargo & Company reduced their target price on Globe Life from $146.00 to $132.00 and set an overweight rating on the stock in a research note on Thursday, April 11th. Evercore ISI reduced their price target on Globe Life from $125.00 to $75.00 and set an in-line rating on the stock in a research note on Friday, April 12th. JPMorgan Chase & Co. increased their price target on Globe Life from $133.00 to $136.00 and gave the stock an overweight rating in a research note on Thursday, February 8th. Truist Financial reissued a hold rating and set a $125.00 price target on shares of Globe Life in a research note on Friday, April 12th. Finally, Keefe, Bruyette & Woods reduced their price target on Globe Life from $135.00 to $130.00 and set a market perform rating on the stock in a research note on Wednesday, April 10th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $126.44.

Globe Life Stock Performance

GL opened at $66.39 on Friday. The stock has a market cap of $6.24 billion, a P/E ratio of 6.59 and a beta of 0.69. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05. The stock’s 50 day simple moving average is $110.58 and its 200 day simple moving average is $116.35. Globe Life has a 1-year low of $38.95 and a 1-year high of $132.00.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, February 7th. The company reported $2.88 earnings per share for the quarter, topping analysts’ consensus estimates of $2.73 by $0.15. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Globe Life had a return on equity of 24.25% and a net margin of 17.82%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.24 EPS. As a group, equities analysts anticipate that Globe Life will post 11.6 EPS for the current fiscal year.

Globe Life Increases Dividend

The firm 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 dividend of $0.24 per share. 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 dividend yield of 1.45%. Globe Life’s dividend payout ratio (DPR) is currently 9.52%.

Institutional Trading of Globe Life

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Globe Life by 1.7% in the third quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock worth $1,183,175,000 after purchasing an additional 181,824 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Globe Life by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 4,247,993 shares of the company’s stock worth $461,884,000 after purchasing an additional 168,127 shares in the last quarter. Cooke & Bieler LP grew its stake in Globe Life by 2.0% in the fourth quarter. Cooke & Bieler LP now owns 2,357,839 shares of the company’s stock worth $286,996,000 after purchasing an additional 45,227 shares in the last quarter. Invesco Ltd. grew its stake in Globe Life by 3.7% in the third quarter. Invesco Ltd. now owns 1,901,013 shares of the company’s stock worth $206,697,000 after purchasing an additional 67,753 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Globe Life by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,200,369 shares of the company’s stock worth $146,109,000 after purchasing an additional 29,560 shares in the last quarter. 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.