Globe Life (NYSE:GL) Upgraded to Outperform 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 note published on Wednesday morning, MarketBeat Ratings reports. Keefe, Bruyette & Woods currently has $110.00 target price on the stock, down from their prior target price of $130.00.

A number of other equities analysts have also recently commented on the company. StockNews.com cut Globe Life from a buy rating to a hold rating in a report on Saturday, April 20th. Piper Sandler lowered their target price on Globe Life from $143.00 to $130.00 and set an overweight rating for the company in a report on Friday, April 5th. JPMorgan Chase & Co. lifted their price objective on Globe Life from $133.00 to $136.00 and gave the company an overweight rating in a research note on Thursday, February 8th. Evercore ISI decreased their price objective on Globe Life from $125.00 to $75.00 and set an in-line rating for the company in a research note on Friday, April 12th. Finally, Truist Financial reiterated a hold rating and issued a $125.00 price objective on shares of Globe Life in a research note on Friday, April 12th. Five 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. Based on data from MarketBeat, Globe Life presently has an average rating of Moderate Buy and an average target price of $114.33.

Globe Life Stock Up 3.7 %

Shares of NYSE:GL opened at $78.60 on Wednesday. The business has a 50-day moving average price of $108.65 and a 200 day moving average price of $115.82. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00. The company has a market capitalization of $7.39 billion, a price-to-earnings ratio of 7.51 and a beta of 0.69. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.36.

Globe Life (NYSE:GL) last announced its earnings results on Monday, April 22nd. The company reported $2.78 EPS 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 firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the business earned $2.53 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. Sell-side analysts expect that Globe Life will post 11.6 EPS for the current year.

Globe Life Increases Dividend

The firm also recently announced 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 a boost from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.96 annualized dividend and a yield of 1.22%. Globe Life’s payout ratio is presently 9.17%.

Institutional Investors Weigh In On Globe Life

Several institutional investors have recently added to or reduced their stakes in GL. Vanguard Group Inc. increased its position in Globe Life by 1.7% during the third quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock worth $1,183,175,000 after buying an additional 181,824 shares during the period. JPMorgan Chase & Co. increased its position in Globe Life by 4.1% during the third quarter. JPMorgan Chase & Co. now owns 4,247,993 shares of the company’s stock worth $461,884,000 after buying an additional 168,127 shares during the period. Cooke & Bieler LP increased its position in Globe Life by 2.0% during the fourth quarter. Cooke & Bieler LP now owns 2,357,839 shares of the company’s stock worth $286,996,000 after buying an additional 45,227 shares during the period. Invesco Ltd. increased its position in Globe Life by 3.7% during the third quarter. Invesco Ltd. now owns 1,901,013 shares of the company’s stock worth $206,697,000 after buying an additional 67,753 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Globe Life by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,200,369 shares of the company’s stock worth $146,109,000 after buying an additional 29,560 shares during the period. Hedge funds and other institutional investors 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.