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

Globe Life Inc. (NYSE:GL) shares saw unusually-strong trading volume on Wednesday . Approximately 1,596,375 shares traded hands during mid-day trading, a decline of 20% from the previous session’s volume of 1,989,671 shares.The stock last traded at $79.25 and had previously closed at $75.76.

Wall Street Analysts Forecast Growth

GL has been the topic of several analyst reports. StockNews.com lowered Globe Life from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Wells Fargo & Company dropped their price objective on Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday. Truist Financial lowered their target price on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday. Piper Sandler cut their price target on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Evercore ISI lowered 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 equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $114.33.

Globe Life Stock Performance

The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of 7.21 and a beta of 0.69. The company’s fifty day simple moving average is $107.65 and its 200 day simple moving average is $115.54. 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 quarterly 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 during the quarter, compared to the consensus estimate 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 period in the prior year, the company earned $2.53 earnings per share. On average, equities research analysts expect that Globe Life Inc. will post 11.68 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 issued a dividend of $0.24 per share. This is a boost from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Thursday, April 4th. Globe Life’s dividend payout ratio (DPR) is presently 9.17%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lindbrook Capital LLC lifted its holdings in shares of Globe Life by 62.2% during the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after buying an additional 92 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Globe Life by 4.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,111 shares of the company’s stock worth $230,000 after purchasing an additional 99 shares in the last quarter. Stonegate Investment Group LLC raised its stake in Globe Life by 0.3% in the 4th quarter. Stonegate Investment Group LLC now owns 34,123 shares of the company’s stock worth $4,153,000 after purchasing an additional 116 shares in the last quarter. Brown Advisory Inc. boosted its holdings in Globe Life by 3.0% in the 3rd quarter. Brown Advisory Inc. now owns 4,127 shares of the company’s stock valued at $449,000 after purchasing an additional 121 shares during the period. Finally, Tectonic Advisors LLC grew its position in shares of Globe Life by 5.3% during the 4th quarter. Tectonic Advisors LLC now owns 2,960 shares of the company’s stock worth $360,000 after purchasing an additional 150 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.