Investment Analysts’ Weekly Ratings Changes for Globe Life (GL)

Several brokerages have updated their recommendations and price targets on shares of Globe Life (NYSE: GL) in the last few weeks:

• 4/12/2024 – Globe Life had its price target lowered by analysts at Evercore ISI from $125.00 to $75.00. They now have an “in-line” rating on the stock.
• 4/12/2024 – Globe Life had its “hold” rating reaffirmed by analysts at Truist Financial Co.. They now have a $125.00 price target on the stock.
• 4/12/2024 – Globe Life was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 4/11/2024 – Globe Life had its price target lowered by analysts at Wells Fargo & Company from $146.00 to $132.00. They now have an “overweight” rating on the stock.
• 4/10/2024 – Globe Life had its price target lowered by analysts at Keefe, Bruyette & Woods from $135.00 to $130.00. They now have a “market perform” rating on the stock.
• 4/5/2024 – Globe Life had its price target lowered by analysts at Piper Sandler from $143.00 to $130.00. They now have an “overweight” rating on the stock.
• 3/27/2024 – Globe Life was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 3/14/2024 – Globe Life had its price target lowered by analysts at Evercore ISI from $138.00 to $125.00. They now have an “in-line” rating on the stock.
• 3/4/2024 – Globe Life was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.

Globe Life Stock Up 5.4 %

Globe Life stock traded up $3.26 during midday trading on Wednesday, reaching $63.23. The company’s stock had a trading volume of 5,370,951 shares, compared to its average volume of 1,806,620. The stock’s 50-day simple moving average is $115.35 and its 200-day simple moving average is $117.58. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. The stock has a market capitalization of $5.95 billion, a P/E ratio of 6.27 and a beta of 0.69.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, February 7th. The company reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.15. Globe Life had a return on equity of 24.25% and a net margin of 17.82%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the business posted $2.24 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts expect that Globe Life Inc. will post 11.6 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. Stockholders of record on Friday, April 5th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.52%. Globe Life’s dividend payout ratio is currently 9.52%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GL. JPMorgan Chase & Co. increased its holdings in shares of Globe Life by 7.2% in the first quarter. JPMorgan Chase & Co. now owns 93,908 shares of the company’s stock valued at $9,448,000 after purchasing an additional 6,299 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in Globe Life by 3.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 14,549 shares of the company’s stock worth $1,464,000 after acquiring an additional 538 shares during the period. American Century Companies Inc. grew its holdings in Globe Life by 26.8% during the first quarter. American Century Companies Inc. now owns 13,456 shares of the company’s stock worth $1,354,000 after acquiring an additional 2,848 shares during the period. Cetera Advisor Networks LLC increased its holdings in shares of Globe Life by 3.0% during the 1st quarter. Cetera Advisor Networks LLC now owns 4,740 shares of the company’s stock valued at $477,000 after purchasing an additional 137 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its stake in shares of Globe Life by 23.9% in the 1st quarter. MetLife Investment Management LLC now owns 25,421 shares of the company’s stock valued at $2,557,000 after purchasing an additional 4,897 shares during the period. 81.61% of the stock is owned by institutional investors and hedge funds.

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.