Globe Life (NYSE:GL) Sees Unusually-High Trading Volume

Globe Life Inc. (NYSE:GL) saw strong trading volume on Wednesday . 1,596,375 shares were traded 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. StockNews.com lowered shares of Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday. Keefe, Bruyette & Woods raised shares of Globe Life from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $130.00 to $110.00 in a research report on Wednesday. Wells Fargo & Company reduced their target price on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a research report on Wednesday. Truist Financial cut their price objective on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday. Finally, Piper Sandler cut their price objective on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $114.33.

Globe Life Price Performance

The company’s 50-day simple moving average is $109.59 and its 200 day simple moving average is $116.08. The company has a market cap of $7.64 billion, a PE ratio of 7.73 and a beta of 0.69. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last posted 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). The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.53 earnings per share. On average, sell-side analysts predict that Globe Life Inc. will post 11.6 earnings per share 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. Shareholders of record on Friday, April 5th will be given a dividend of $0.24 per share. 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 1.18%. This is a boost from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s payout ratio is presently 9.17%.

Hedge Funds Weigh In On Globe Life

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