Globe Life (NYSE:GL) PT Lowered to $80.00 at Truist Financial

Globe Life (NYSE:GL) had its price target trimmed by Truist Financial from $125.00 to $80.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a hold rating on the stock.

GL has been the topic of several other reports. Piper Sandler lowered their price target on shares of Globe Life from $143.00 to $130.00 and set an overweight rating on the stock in a research report on Friday, April 5th. JPMorgan Chase & Co. increased their price target on shares of Globe Life from $133.00 to $136.00 and gave the company an overweight rating in a research report on Thursday, February 8th. Wells Fargo & Company lowered their price target 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. StockNews.com downgraded shares of Globe Life from a buy rating to a hold rating in a research note on Saturday, April 20th. Finally, Evercore ISI reduced 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. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $114.33.

Globe Life Trading Up 0.3 %

Shares of GL opened at $75.75 on Wednesday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average is $106.65 and its two-hundred day moving average is $115.29. Globe Life has a twelve month low of $38.95 and a twelve month high of $132.00. 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 issued its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.53 earnings per share. On average, research analysts predict that Globe Life will post 11.73 earnings per share for the current fiscal 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 paid a dividend of $0.24 per share. The ex-dividend date is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a yield of 1.27%. This is an increase from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s dividend payout ratio (DPR) is currently 9.17%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Globe Life

A number of hedge funds have recently made changes to their positions in GL. CWM LLC grew its holdings in Globe Life by 11.4% during the 3rd quarter. CWM LLC now owns 1,527 shares of the company’s stock valued at $166,000 after purchasing an additional 156 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in Globe Life during the 3rd quarter valued at $625,000. Oak Thistle LLC acquired a new stake in Globe Life during the 3rd quarter valued at $1,191,000. Czech National Bank grew its holdings in Globe Life by 44.5% during the 3rd quarter. Czech National Bank now owns 15,197 shares of the company’s stock valued at $1,652,000 after purchasing an additional 4,677 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in Globe Life by 1.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 37,304 shares of the company’s stock valued at $4,056,000 after purchasing an additional 476 shares in the last quarter. 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.