Globe Life (NYSE:GL) Sees Unusually-High Trading Volume

Shares of Globe Life Inc. (NYSE:GL) saw unusually-strong trading volume on Monday . Approximately 1,189,810 shares were traded during mid-day trading, a decline of 27% from the previous session’s volume of 1,631,701 shares.The stock last traded at $60.13 and had previously closed at $59.09.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GL shares. Truist Financial reissued a “hold” rating and issued a $125.00 target price on shares of Globe Life in a research report on Friday, April 12th. StockNews.com raised shares of Globe Life from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Wells Fargo & Company lowered their price objective on shares of Globe Life from $146.00 to $132.00 and set an “overweight” rating for the company in a research report on Thursday, April 11th. Evercore ISI lowered their price objective on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research report on Friday, April 12th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Globe Life from $135.00 to $130.00 and set a “market perform” rating for the company in a research report on Wednesday, April 10th. Five 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $126.44.

Globe Life Trading Up 7.5 %

The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 5.95 and a beta of 0.69. The firm’s 50 day moving average is $115.35 and its 200 day moving average is $117.58. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, February 7th. The company reported $2.88 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the business earned $2.24 earnings per share. The business’s quarterly revenue was up 6.0% on a year-over-year basis. Equities analysts forecast that Globe Life Inc. will post 11.6 earnings per share for the current year.

Globe Life Increases Dividend

The company also recently declared 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. This represents a $0.96 annualized dividend and a dividend yield of 1.60%. 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 Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GL. Vanguard Group Inc. increased its stake in shares of Globe Life by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock worth $1,183,175,000 after purchasing an additional 181,824 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Globe Life by 37.0% during the 1st quarter. Wellington Management Group LLP now owns 7,308,014 shares of the company’s stock worth $735,187,000 after buying an additional 1,973,186 shares during the period. BlackRock Inc. raised its holdings in Globe Life by 0.9% in the 1st quarter. BlackRock Inc. now owns 6,520,494 shares of the company’s stock worth $655,963,000 after acquiring an additional 57,587 shares during the period. JPMorgan Chase & Co. raised its holdings in Globe Life by 4.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,247,993 shares of the company’s stock worth $461,884,000 after acquiring an additional 168,127 shares during the period. Finally, State Street Corp raised its holdings in Globe Life by 2.2% in the 2nd quarter. State Street Corp now owns 3,960,623 shares of the company’s stock worth $434,163,000 after acquiring an additional 84,122 shares during the period. 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.