Globe Life (NYSE:GL) Sees Large Volume Increase

Shares of Globe Life Inc. (NYSE:GLGet Free Report) saw an uptick in trading volume on Wednesday . 1,181,105 shares traded hands during mid-day trading, an increase of 68% from the previous session’s volume of 704,851 shares.The stock last traded at $109.41 and had previously closed at $111.64.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Evercore ISI lowered their price objective on shares of Globe Life from $138.00 to $125.00 and set an “in-line” rating for the company in a research report on Thursday, March 14th. Truist Financial raised their price objective on Globe Life from $115.00 to $125.00 and gave the company a “hold” rating in a report on Friday, February 9th. JPMorgan Chase & Co. raised their price objective on Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Finally, StockNews.com downgraded shares of Globe Life from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.00.

Read Our Latest Analysis on GL

Globe Life Price Performance

The business’s 50 day moving average price is $122.31 and its 200 day moving average price is $119.19. The stock has a market capitalization of $10.43 billion, a P/E ratio of 11.08 and a beta of 0.69. 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 (NYSE:GLGet Free Report) last announced its earnings results on Wednesday, February 7th. The company reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.15. Globe Life had a net margin of 17.82% and a return on equity of 24.25%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the business posted $2.24 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. Sell-side analysts forecast that Globe Life Inc. will post 11.57 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. Shareholders of record on Friday, April 5th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.87%. This is a boost from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, April 4th. Globe Life’s dividend payout ratio is presently 9.52%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP grew its position in Globe Life by 37.0% during the first quarter. Wellington Management Group LLP now owns 7,308,014 shares of the company’s stock valued at $735,187,000 after buying an additional 1,973,186 shares during the period. Norges Bank acquired a new position in shares of Globe Life in the fourth quarter valued at approximately $123,682,000. Envestnet Asset Management Inc. grew its holdings in shares of Globe Life by 1,085.6% in the first quarter. Envestnet Asset Management Inc. now owns 834,800 shares of the company’s stock valued at $6,128,000 after purchasing an additional 764,390 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Globe Life by 94.1% in the second quarter. Goldman Sachs Group Inc. now owns 1,397,674 shares of the company’s stock valued at $153,213,000 after purchasing an additional 677,778 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Globe Life by 36.3% during the 1st quarter. Invesco Ltd. now owns 1,908,373 shares of the company’s stock worth $191,981,000 after buying an additional 508,064 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Company Profile

(Get Free Report)

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.

Further Reading

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