Globe Life (NYSE:GL) Upgraded to Outperform by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Globe Life (NYSE:GL) from a market perform rating to an outperform rating in a research note issued to investors on Wednesday, MarketBeat.com reports. They currently have $110.00 price objective on the stock, down from their prior price objective of $130.00.

A number of other equities analysts also recently commented on GL. Evercore ISI reduced their target price on shares of Globe Life from $125.00 to $75.00 and set an in-line rating for the company in a report on Friday, April 12th. Truist Financial restated a hold rating and set a $125.00 price target on shares of Globe Life in a research note on Friday, April 12th. Wells Fargo & Company dropped their price target on Globe Life from $146.00 to $132.00 and set an overweight rating on the stock in a research note on Thursday, April 11th. JPMorgan Chase & Co. boosted their price target on Globe Life from $133.00 to $136.00 and gave the stock an overweight rating in a research note on Thursday, February 8th. Finally, StockNews.com lowered Globe Life from a buy rating to a hold rating in a research note on Saturday, April 20th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $114.33.

Globe Life Stock Performance

Shares of Globe Life stock opened at $75.75 on Wednesday. The company has a market capitalization of $7.12 billion, a PE ratio of 7.23 and a beta of 0.69. 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 company has a 50-day simple moving average of $106.65 and a two-hundred day simple moving average of $115.29. Globe Life has a one year low of $38.95 and a one year high of $132.00.

Globe Life (NYSE:GL) last announced its earnings results on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.42 billion. Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.53 earnings per share. Research analysts expect that Globe Life will post 11.73 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. 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 1.27%. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s dividend payout ratio is currently 9.17%.

Insider Activity at Globe Life

In other Globe Life news, EVP Rebecca E. Zorn sold 2,320 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the sale, the executive vice president now owns 10,220 shares in the company, valued at approximately $790,006. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Rebecca E. Zorn sold 2,320 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total transaction of $179,336.00. Following the completion of the transaction, the executive vice president now directly owns 10,220 shares of the company’s stock, valued at approximately $790,006. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director David A. Rodriguez bought 1,500 shares of Globe Life stock in a transaction dated Wednesday, April 24th. The shares were acquired at an average cost of $79.72 per share, with a total value of $119,580.00. Following the completion of the purchase, the director now owns 4,192 shares in the company, valued at $334,186.24. The disclosure for this purchase can be found here. 1.51% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GL. Private Trust Co. NA raised its stake in shares of Globe Life by 270.0% during the 4th 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 period. Private Wealth Management Group LLC acquired a new position in Globe Life in the 4th quarter valued at $27,000. BKM Wealth Management LLC acquired a new position in Globe Life in the 4th quarter valued at $28,000. Lindbrook Capital LLC raised its stake in 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 purchasing an additional 92 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Globe Life by 177.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock valued at $34,000 after purchasing an additional 177 shares during the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

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.