Globe Life (NYSE:GL) PT Lowered to $108.00 at Wells Fargo & Company

Globe Life (NYSE:GL) had its price target decreased by Wells Fargo & Company from $132.00 to $108.00 in a research report released on Wednesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other analysts also recently weighed in on the company. Truist Financial lowered their target price on Globe Life from $125.00 to $80.00 and set a hold rating for the company in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on Globe Life from $133.00 to $136.00 and gave the stock an overweight rating in a research note on Thursday, February 8th. StockNews.com downgraded Globe Life from a buy rating to a hold rating in a research note on Saturday, April 20th. Keefe, Bruyette & Woods upgraded Globe Life from a market perform rating to an outperform rating and decreased their price target for the stock from $130.00 to $110.00 in a research note on Wednesday. Finally, Piper Sandler decreased their price target on Globe Life from $143.00 to $130.00 and set an overweight rating for the company in a research note on Friday, April 5th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $114.33.

Globe Life Trading Up 0.3 %

NYSE:GL opened at $75.75 on Wednesday. The business’s 50-day moving average is $106.65 and its two-hundred day moving average is $115.29. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market capitalization of $7.12 billion, a PE ratio of 7.23 and a beta of 0.69. Globe Life has a 12 month low of $38.95 and a 12 month high of $132.00.

Globe Life (NYSE:GL) last announced its 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 business had revenue of $1.42 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.53 earnings per share. Research analysts predict that Globe Life will post 11.73 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given a dividend of $0.24 per share. 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. This represents a $0.96 annualized dividend and a dividend yield of 1.27%. Globe Life’s payout ratio is currently 9.17%.

Insider Transactions at Globe Life

In other Globe Life news, Director David A. Rodriguez acquired 1,500 shares of Globe Life stock in a transaction dated Wednesday, April 24th. The stock was acquired at an average cost of $79.72 per share, for a total transaction of $119,580.00. Following the completion of the transaction, the director now owns 4,192 shares in the company, valued at approximately $334,186.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director David A. Rodriguez bought 1,500 shares of the business’s stock in a transaction on Wednesday, April 24th. The stock was purchased at an average cost of $79.72 per share, for a total transaction of $119,580.00. Following the completion of the transaction, the director now directly owns 4,192 shares of the company’s stock, valued at approximately $334,186.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Rebecca E. Zorn sold 2,320 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the completion of the sale, the executive vice president now owns 10,220 shares of the company’s stock, valued at $790,006. The disclosure for this sale can be found here. Insiders own 1.51% of the company’s stock.

Institutional Investors Weigh In On Globe Life

Institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in shares of Globe Life by 488.6% during the 4th quarter. Pacer Advisors Inc. now owns 33,620 shares of the company’s stock valued at $4,092,000 after acquiring an additional 27,908 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Globe Life by 5.2% during the 4th quarter. Arizona State Retirement System now owns 26,061 shares of the company’s stock valued at $3,172,000 after acquiring an additional 1,295 shares during the last quarter. AIA Group Ltd acquired a new stake in shares of Globe Life during the 4th quarter valued at $1,788,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake 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 valued at $31,840,000 after purchasing an additional 15,329 shares during the period. Finally, Sequoia Financial Advisors LLC raised its stake in Globe Life by 72.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,637 shares of the company’s stock valued at $443,000 after purchasing an additional 1,526 shares during the period. 81.61% of the stock is currently 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.