Globe Life (NYSE:GL) Trading Up 5%

Globe Life Inc. (NYSE:GL)’s stock price was up 5% during trading on Tuesday . The company traded as high as $58.86 and last traded at $58.58. Approximately 2,474,223 shares were traded 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

Several equities analysts have commented on the company. Truist Financial reiterated a “hold” rating and set a $125.00 price target on shares of Globe Life in a report on Friday, April 12th. Evercore ISI lowered their price target on Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a report on Friday, April 12th. Wells Fargo & Company lowered their price target on Globe Life from $146.00 to $132.00 and set an “overweight” rating on the stock in a report on Thursday, April 11th. Piper Sandler lowered their price target on Globe Life from $143.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, April 5th. Finally, JPMorgan Chase & Co. increased their price target on Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $126.44.

Globe Life Stock Up 1.1 %

The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $6.01 billion, a P/E ratio of 6.27 and a beta of 0.69. The firm has a 50-day moving average price of $114.17 and a two-hundred day moving average price of $117.20.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, February 7th. The company reported $2.88 EPS for the quarter, topping the consensus estimate of $2.73 by $0.15. The firm had revenue of $1.42 billion during 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%. Globe Life’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the business earned $2.24 earnings per share. Equities research analysts anticipate that Globe Life Inc. will post 11.6 EPS 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. Investors of record on Friday, April 5th will be given 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 1.50%. The ex-dividend date of this dividend is Thursday, April 4th. Globe Life’s dividend payout ratio (DPR) is 9.52%.

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 GL. Private Trust Co. NA boosted its holdings in 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 buying an additional 162 shares during the last quarter. Private Wealth Management Group LLC bought a new position in shares of Globe Life during the 4th quarter valued at about $27,000. BKM Wealth Management LLC bought a new position in shares of Globe Life during the 4th quarter valued at about $28,000. Lindbrook Capital LLC lifted its holdings in shares of Globe Life by 62.2% during the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after purchasing an additional 92 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new position in shares of Globe Life during the 1st quarter valued at about $29,000. Institutional investors own 81.61% of the company’s stock.

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.