Globe Life (NYSE:GL) Stock Rating Upgraded by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Globe Life (NYSE:GL) from a market perform rating to an outperform rating in a research report sent to investors on Wednesday morning, Marketbeat.com reports. Keefe, Bruyette & Woods currently has $110.00 price objective on the stock, down from their prior price objective of $130.00.

A number of other brokerages have also weighed in on GL. Piper Sandler lowered their price objective 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. Truist Financial restated a hold rating and set a $125.00 price objective on shares of Globe Life in a research note on Friday, April 12th. JPMorgan Chase & Co. lifted their target price on Globe Life from $133.00 to $136.00 and gave the stock an overweight rating in a research report on Thursday, February 8th. StockNews.com lowered Globe Life from a buy rating to a hold rating in a research report on Saturday, April 20th. Finally, Evercore ISI decreased their target price on Globe Life from $125.00 to $75.00 and set an in-line rating for the company in a research report on Friday, April 12th. Five 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 company’s stock. According to MarketBeat, Globe Life currently has an average rating of Moderate Buy and an average target price of $114.33.

Globe Life Stock Performance

Shares of NYSE:GL opened at $78.60 on Wednesday. Globe Life has a one year low of $38.95 and a one year high of $132.00. The business’s 50-day simple moving average is $108.65 and its 200 day simple moving average is $115.82. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market cap of $7.39 billion, a P/E ratio of 7.51 and a beta of 0.69.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share 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 business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the business earned $2.53 EPS. Globe Life’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, sell-side analysts forecast that Globe Life will post 11.6 earnings per share 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 given a dividend of $0.24 per share. The ex-dividend date is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a yield of 1.22%. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s payout ratio is currently 9.17%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Globe Life during the 4th quarter valued at $123,682,000. Corient Private Wealth LLC raised its stake in Globe Life by 1,367.8% during the 4th quarter. Corient Private Wealth LLC now owns 362,535 shares of the company’s stock valued at $44,128,000 after acquiring an additional 337,836 shares in the last quarter. California Public Employees Retirement System raised its stake in Globe Life by 169.4% during the 4th quarter. California Public Employees Retirement System now owns 484,982 shares of the company’s stock valued at $59,032,000 after acquiring an additional 304,942 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in Globe Life by 141.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 466,896 shares of the company’s stock valued at $50,766,000 after acquiring an additional 273,515 shares in the last quarter. Finally, Nuance Investments LLC bought a new stake in Globe Life during the 4th quarter valued at $30,560,000. 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.