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

Globe Life (NYSE:GL) had its target price cut by Truist Financial from $125.00 to $80.00 in a report issued on Wednesday, Benzinga reports. They currently have a hold rating on the stock.

A number of other equities research analysts also recently weighed in on GL. JPMorgan Chase & Co. boosted their price target on Globe Life from $133.00 to $136.00 and gave the company an overweight rating in a report on Thursday, February 8th. Wells Fargo & Company lowered their price target on Globe Life from $146.00 to $132.00 and set an overweight rating for the company in a report on Thursday, April 11th. Keefe, Bruyette & Woods upgraded Globe Life from a market perform rating to an outperform rating and lowered their price target for the company from $130.00 to $110.00 in a report on Wednesday. Piper Sandler lowered their price target on Globe Life from $143.00 to $130.00 and set an overweight rating for the company in a report on Friday, April 5th. Finally, StockNews.com downgraded Globe Life from a buy rating to a hold rating in a report on Saturday, April 20th. 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. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $114.33.

Globe Life Stock Performance

Globe Life stock opened at $78.60 on Wednesday. The stock’s 50 day moving average price is $108.65 and its 200 day moving average price is $115.82. The firm has a market capitalization of $7.39 billion, a PE ratio of 7.51 and a beta of 0.69. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life has a one year low of $38.95 and a one year high of $132.00.

Globe Life (NYSE:GL) last posted 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 business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the firm earned $2.53 earnings per share. Globe Life’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts expect that Globe Life will post 11.6 EPS for the current fiscal year.

Globe Life Increases Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its position in Globe Life by 488.6% during the 4th quarter. Pacer Advisors Inc. now owns 33,620 shares of the company’s stock worth $4,092,000 after acquiring an additional 27,908 shares during the period. Arizona State Retirement System boosted its position in Globe Life by 5.2% during the 4th quarter. Arizona State Retirement System now owns 26,061 shares of the company’s stock worth $3,172,000 after acquiring an additional 1,295 shares during the period. AIA Group Ltd acquired a new position in Globe Life during the 4th quarter worth $1,788,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Globe Life by 6.2% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 261,580 shares of the company’s stock worth $31,840,000 after acquiring an additional 15,329 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Globe Life by 72.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 3,637 shares of the company’s stock valued at $443,000 after buying an additional 1,526 shares during the period. 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.