Globe Life (NYSE:GL) PT Lowered to $108.00 at Wells Fargo & Company

Globe Life (NYSE:GL) had its target price decreased by Wells Fargo & Company from $132.00 to $108.00 in a report released on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other analysts have also commented on GL. Evercore ISI dropped their target price on Globe Life from $125.00 to $75.00 and set an in-line rating on the stock in a report on Friday, April 12th. JPMorgan Chase & Co. lifted 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. Truist Financial lowered their price target on Globe Life from $125.00 to $80.00 and set a hold rating on the stock in a research note on Wednesday. Keefe, Bruyette & Woods upgraded Globe Life from a market perform rating to an outperform rating and reduced their price objective for the stock from $130.00 to $110.00 in a research report on Wednesday. Finally, Piper Sandler reduced their target price on Globe Life from $143.00 to $130.00 and set an overweight rating on the stock in a research report on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $114.33.

Globe Life Trading Up 0.3 %

Shares of NYSE:GL 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 stock has a market cap of $7.12 billion, a price-to-earnings ratio of 7.23 and a beta of 0.69. 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 business has a 50-day moving average price of $106.65 and a 200-day moving average price of $115.29.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the business earned $2.53 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts predict that Globe Life will post 11.73 EPS for the current year.

Globe Life Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors 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 1.27%. 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 payout ratio is currently 9.17%.

Insider Activity at Globe Life

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Globe Life by 13.3% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 73,496 shares of the company’s stock worth $8,553,000 after purchasing an additional 8,600 shares in the last quarter. Canvas Wealth Advisors LLC acquired a new position in shares of Globe Life during the 1st quarter worth about $419,000. Revisor Wealth Management LLC acquired a new position in shares of Globe Life during the 1st quarter worth about $314,000. Accurate Wealth Management LLC boosted its position in shares of Globe Life by 26.5% during the 1st quarter. Accurate Wealth Management LLC now owns 22,565 shares of the company’s stock worth $2,626,000 after acquiring an additional 4,727 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Globe Life by 128.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 169,527 shares of the company’s stock worth $19,728,000 after acquiring an additional 95,273 shares in the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

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.