Globe Life (NYSE:GL) Trading Up 7%

Shares of Globe Life Inc. (NYSE:GL) were up 7% on Tuesday . The stock traded as high as $71.96 and last traded at $71.07. Approximately 855,090 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 1,884,156 shares. The stock had previously closed at $66.39.

Analyst Ratings Changes

A number of research analysts have recently commented on GL shares. Truist Financial reissued a “hold” rating and issued a $125.00 price objective on shares of Globe Life in a research report on Friday, April 12th. Wells Fargo & Company reduced their target price on shares of Globe Life from $146.00 to $132.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. StockNews.com lowered shares of Globe Life from a “buy” rating to a “hold” rating in a report on Saturday. Evercore ISI reduced their price objective on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research report on Friday, April 12th. Finally, Piper Sandler cut their price objective on shares of Globe Life from $143.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, April 5th. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $126.44.

Globe Life Stock Up 15.0 %

The firm’s 50-day simple moving average is $110.58 and its two-hundred day simple moving average is $116.35. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of 7.58 and a beta of 0.69.

Globe Life (NYSE:GL) last posted its earnings results on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.42 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 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.53 EPS. On average, sell-side analysts expect that Globe Life Inc. will post 11.6 EPS for the current fiscal year.

Globe Life Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given 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 dividend yield of 1.26%. This is an increase from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s payout ratio is presently 9.52%.

Institutional Trading of Globe Life

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Globe Life during the 4th quarter worth about $123,682,000. Corient Private Wealth LLC increased its holdings in shares of Globe Life by 1,367.8% during the fourth quarter. Corient Private Wealth LLC now owns 362,535 shares of the company’s stock worth $44,128,000 after buying an additional 337,836 shares in the last quarter. California Public Employees Retirement System lifted its position in Globe Life by 169.4% in the 4th quarter. California Public Employees Retirement System now owns 484,982 shares of the company’s stock valued at $59,032,000 after acquiring an additional 304,942 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in Globe Life by 141.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 466,896 shares of the company’s stock valued at $50,766,000 after buying an additional 273,515 shares in the last quarter. Finally, Nuance Investments LLC bought a new position in shares of Globe Life during the fourth quarter valued at about $30,560,000. Institutional investors and hedge funds 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.