Globe Life (NYSE:GL) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Globe Life (NYSE:GL) from a hold rating to a buy rating in a research note issued to investors on Friday.

GL has been the topic of a number of other research reports. Truist Financial reiterated a hold rating and issued a $125.00 target price on shares of Globe Life in a report on Friday. Evercore ISI decreased their target price on Globe Life from $125.00 to $75.00 and set an in-line rating for the company in a report on Friday. Keefe, Bruyette & Woods cut their price target on shares of Globe Life from $135.00 to $130.00 and set a market perform rating on the stock in a report on Wednesday, April 10th. Piper Sandler decreased their price objective on shares of Globe Life from $143.00 to $130.00 and set an overweight rating for the company in a research note on Friday, April 5th. Finally, Wells Fargo & Company cut their target price on shares of Globe Life from $146.00 to $132.00 and set an overweight rating on the stock in a research note on Thursday, April 11th. Five equities 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $126.44.

Globe Life Stock Down 5.5 %

GL opened at $55.82 on Friday. Globe Life has a 12 month low of $38.95 and a 12 month high of $132.00. The business has a 50-day moving average of $116.57 and a two-hundred day moving average of $117.92. 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 has a market capitalization of $5.25 billion, a price-to-earnings ratio of 5.54 and a beta of 0.69.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, February 7th. The company reported $2.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.15. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. Globe Life had a net margin of 17.82% and a return on equity of 24.25%. Globe Life’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.24 earnings per share. On average, research analysts expect that Globe Life will post 11.6 earnings per share for the current year.

Globe Life Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued 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 1.72%. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s payout ratio is currently 9.52%.

Institutional Investors Weigh In On Globe Life

A number of hedge funds have recently bought and sold shares of the business. Private Trust Co. NA lifted 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 purchasing an additional 162 shares during the last quarter. Private Wealth Management Group LLC bought a new position in Globe Life during the 4th quarter worth approximately $27,000. BKM Wealth Management LLC acquired a new position in shares of Globe Life in the 4th quarter worth approximately $28,000. Lindbrook Capital LLC increased its holdings in shares of Globe Life by 62.2% in the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after acquiring an additional 92 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Globe Life during the 1st quarter valued at approximately $29,000. 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.