Evercore ISI Lowers Globe Life (NYSE:GL) Price Target to $75.00

Globe Life (NYSE:GL) had its price objective trimmed by Evercore ISI from $125.00 to $75.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has an in-line rating on the stock.

Several other equities analysts have also issued reports on the company. Keefe, Bruyette & Woods dropped their price objective on Globe Life from $135.00 to $130.00 and set a market perform rating on the stock in a report on Wednesday, April 10th. Truist Financial lifted their price target on shares of Globe Life from $115.00 to $125.00 and gave the company a hold rating in a research report on Friday, February 9th. Wells Fargo & Company reduced their price target 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. Piper Sandler reduced their price target on shares of Globe Life from $143.00 to $130.00 and set an overweight rating for the company in a research report on Friday, April 5th. Finally, StockNews.com downgraded shares of Globe Life from a buy rating to a hold rating in a research report on Wednesday, March 27th. 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 MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $126.44.

Globe Life Stock Down 5.5 %

Globe Life stock opened at $55.82 on Friday. Globe Life has a twelve month low of $38.95 and a twelve month high of $132.00. The stock’s fifty day simple moving average is $116.57 and its 200-day simple moving average is $117.92. 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 firm has a market capitalization of $5.25 billion, a P/E ratio of 5.54 and a beta of 0.69.

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

Globe Life Increases Dividend

The company also recently announced 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. This is a boost from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 1.72%. The ex-dividend date is Thursday, April 4th. Globe Life’s payout ratio is presently 9.52%.

Institutional Trading of Globe Life

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Globe Life by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock worth $1,183,175,000 after acquiring an additional 181,824 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Globe Life by 37.0% in the 1st quarter. Wellington Management Group LLP now owns 7,308,014 shares of the company’s stock valued at $735,187,000 after purchasing an additional 1,973,186 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Globe Life by 0.9% in the 1st quarter. BlackRock Inc. now owns 6,520,494 shares of the company’s stock valued at $655,963,000 after purchasing an additional 57,587 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Globe Life by 4.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,247,993 shares of the company’s stock valued at $461,884,000 after purchasing an additional 168,127 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Globe Life by 2.2% in the 2nd quarter. State Street Corp now owns 3,960,623 shares of the company’s stock valued at $434,163,000 after purchasing an additional 84,122 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

About Globe Life

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.