Globe Life’s (GL) “Hold” Rating Reaffirmed at Truist Financial

Truist Financial restated their hold rating on shares of Globe Life (NYSE:GL) in a report issued on Friday morning, Benzinga reports. They currently have a $125.00 price objective on the stock.

Other research analysts have also issued reports about the stock. StockNews.com lowered shares of Globe Life from a buy rating to a hold rating in a research note on Wednesday, March 27th. Evercore ISI lowered their target price on shares of Globe Life from $125.00 to $75.00 and set an in-line rating on the stock in a research report on Friday. Wells Fargo & Company lowered 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 report on Thursday, April 11th. JPMorgan Chase & Co. upped their target price on shares of Globe Life from $133.00 to $136.00 and gave the stock an overweight rating in a research report on Thursday, February 8th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Globe Life from $135.00 to $130.00 and set a market perform rating on the stock in a research report on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $126.44.

Globe Life Trading Down 5.5 %

Shares of Globe Life stock opened at $55.82 on Friday. Globe Life has a 52-week low of $38.95 and a 52-week high of $132.00. 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’s 50-day simple moving average is $116.57 and its 200-day simple moving average is $117.92. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of 5.54 and a beta of 0.69.

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

Globe Life Increases Dividend

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

Institutional Trading of Globe Life

Institutional investors and hedge funds have recently modified their holdings of the business. Private Trust Co. NA lifted its stake 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 valued at $27,000 after buying an additional 162 shares during the period. Private Wealth Management Group LLC purchased a new position in shares of Globe Life during the fourth quarter valued at approximately $27,000. BKM Wealth Management LLC purchased a new position in shares of Globe Life during the fourth quarter valued at approximately $28,000. Lindbrook Capital LLC lifted its stake in shares of Globe Life by 62.2% during 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 period. Finally, Sunbelt Securities Inc. purchased a new position in shares of Globe Life during the first quarter valued at approximately $29,000. Hedge funds and other institutional investors 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.