Globe Life (NYSE:GL) Trading Down 4.9%

Globe Life Inc. (NYSE:GL) shares traded down 4.9% during trading on Friday . The company traded as low as $103.02 and last traded at $104.21. Approximately 589,207 shares traded hands during trading, a decline of 65% from the average session volume of 1,698,394 shares. The stock had previously closed at $109.60.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on GL shares. Morgan Stanley increased their price objective on Globe Life from $66.00 to $83.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $118.00 price target (up previously from $110.00) on shares of Globe Life in a report on Wednesday, July 31st. Truist Financial lifted their price objective on shares of Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Jefferies Financial Group increased their price objective on shares of Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, June 28th. Finally, Evercore ISI boosted their target price on shares of Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a research report on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $108.33.

Globe Life Trading Down 4.6 %

The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average is $98.64 and its 200 day moving average is $92.09. The company has a market cap of $9.39 billion, a price-to-earnings ratio of 10.47 and a beta of 0.81.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $2.61 EPS. Research analysts predict that Globe Life Inc. will post 11.93 EPS for the current year.

Globe Life Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Friday, October 4th. Globe Life’s dividend payout ratio (DPR) is presently 9.17%.

Insider Activity

In other news, Director Mary E. Thigpen acquired 3,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were bought at an average cost of $90.20 per share, for a total transaction of $270,600.00. Following the acquisition, the director now owns 15,605 shares in the company, valued at approximately $1,407,571. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.51% of the company’s stock.

Hedge Funds Weigh In On Globe Life

Hedge funds and other institutional investors have recently modified their holdings of the business. Keener Financial Planning LLC acquired a new position in Globe Life during the first quarter worth $49,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of Globe Life by 88.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after acquiring an additional 281 shares during the last quarter. LRI Investments LLC grew its holdings in shares of Globe Life by 898.4% in the second quarter. LRI Investments LLC now owns 619 shares of the company’s stock valued at $51,000 after purchasing an additional 557 shares during the period. Family Firm Inc. acquired a new stake in Globe Life during the second quarter worth about $54,000. Finally, Blue Trust Inc. raised its stake in Globe Life by 249.5% during the second quarter. Blue Trust Inc. now owns 776 shares of the company’s stock worth $64,000 after purchasing an additional 554 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

About Globe Life

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.