Truist Financial Lowers Globe Life (NYSE:GL) Price Target to $80.00

Globe Life (NYSE:GL) had its price objective cut by Truist Financial from $125.00 to $80.00 in a report published on Wednesday, Benzinga reports. They currently have a hold rating on the stock.

Other research analysts have also issued research reports about the stock. Evercore ISI dropped their price objective on shares of Globe Life from $125.00 to $75.00 and set an in-line rating on the stock in a research note on Friday, April 12th. Wells Fargo & Company decreased their price objective 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. Keefe, Bruyette & Woods raised shares of Globe Life from a market perform rating to an outperform rating and decreased their price objective for the stock from $130.00 to $110.00 in a report on Wednesday. StockNews.com downgraded shares of Globe Life from a buy rating to a hold rating in a report on Saturday, April 20th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Globe Life from $133.00 to $136.00 and gave the stock an overweight rating in a report on Thursday, February 8th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $114.33.

Globe Life Stock Up 0.3 %

GL stock opened at $75.75 on Wednesday. Globe Life has a 52-week low of $38.95 and a 52-week high of $132.00. The company’s 50 day simple moving average is $106.65 and its 200-day simple moving average is $115.29. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market capitalization of $7.12 billion, a P/E ratio of 7.23 and a beta of 0.69.

Globe Life (NYSE:GL) last released its quarterly earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.53 EPS. As a group, equities research analysts anticipate that Globe Life will post 11.73 EPS for the current year.

Globe Life Increases Dividend

The business 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. 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. This represents a $0.96 dividend on an annualized basis and a yield of 1.27%. Globe Life’s dividend payout ratio is 9.17%.

Insider Activity

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

Institutional Investors Weigh In On Globe Life

A number of hedge funds have recently made changes to their positions in GL. Vanguard Group Inc. increased its position in Globe Life by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock valued at $1,183,175,000 after acquiring an additional 181,824 shares in the last quarter. JPMorgan Chase & Co. increased its position in 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 acquiring an additional 168,127 shares in the last quarter. Cooke & Bieler LP increased its position in Globe Life by 2.0% in the 4th quarter. Cooke & Bieler LP now owns 2,357,839 shares of the company’s stock valued at $286,996,000 after acquiring an additional 45,227 shares in the last quarter. Invesco Ltd. increased its position in Globe Life by 3.7% in the 3rd quarter. Invesco Ltd. now owns 1,901,013 shares of the company’s stock valued at $206,697,000 after acquiring an additional 67,753 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Globe Life by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,200,369 shares of the company’s stock valued at $146,109,000 after acquiring an additional 29,560 shares in the last quarter. 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.