Globe Life (NYSE:GL) Trading 7% Higher

Globe Life Inc. (NYSE:GL)’s share price shot up 7% on Tuesday . The company traded as high as $71.96 and last traded at $71.07. 855,090 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 1,884,156 shares. The stock had previously closed at $66.39.

Analysts Set New Price Targets

A number of research firms recently weighed in on GL. Keefe, Bruyette & Woods upgraded Globe Life from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $130.00 to $110.00 in a research note on Wednesday. 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 report on Thursday, February 8th. Evercore ISI cut their price target on Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a report on Friday, April 12th. StockNews.com lowered Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Finally, Piper Sandler dropped their target price on Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday. Five equities 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 stock. Based on data from MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and a consensus target price of $114.33.

Globe Life Price Performance

The company has a market capitalization of $7.39 billion, a price-to-earnings ratio of 7.51 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 company has a 50 day simple moving average of $108.65 and a 200 day simple moving average of $115.82.

Globe Life (NYSE:GL) last posted its 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). Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the business posted $2.53 EPS. Globe Life’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, research analysts predict that Globe Life Inc. will post 11.6 EPS for the current year.

Globe Life Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a $0.24 dividend. The ex-dividend date is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.22%. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s dividend payout ratio (DPR) is 9.17%.

Institutional Investors Weigh In On Globe Life

A number of large investors have recently modified their holdings of the stock. Canvas Wealth Advisors LLC acquired a new stake in shares of Globe Life in the first quarter valued at about $419,000. Revisor Wealth Management LLC purchased a new position in Globe Life in the first quarter valued at about $314,000. Accurate Wealth Management LLC boosted its holdings in Globe Life by 26.5% in the first quarter. Accurate Wealth Management LLC now owns 22,565 shares of the company’s stock valued at $2,626,000 after purchasing an additional 4,727 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Globe Life by 128.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 169,527 shares of the company’s stock valued at $19,728,000 after purchasing an additional 95,273 shares during the last quarter. Finally, Nicholas Hoffman & Company LLC. boosted its holdings in Globe Life by 11.7% in the first quarter. Nicholas Hoffman & Company LLC. now owns 8,764 shares of the company’s stock valued at $1,020,000 after purchasing an additional 921 shares during the last quarter. Institutional investors and hedge funds 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.