Globe Life (NYSE:GL) Trading Down 4.1% - What's Next?

Shares of Globe Life Inc. (NYSE:GL - Get Free Report) fell 4.1% during trading on Friday . The company traded as low as $104.68 and last traded at $104.93. 274,428 shares were traded during mid-day trading, a decline of 83% from the average session volume of 1,593,130 shares. The stock had previously closed at $109.39.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GL. Raymond James upped their price target on shares of Globe Life from $160.00 to $188.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $118.00 price target (up from $110.00) on shares of Globe Life in a research report on Wednesday, July 31st. Wells Fargo & Company upped their price objective on shares of Globe Life from $108.00 to $117.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Truist Financial upped their price objective on shares of Globe Life from $90.00 to $105.00 and gave the company a "hold" rating in a report on Friday. Finally, Piper Sandler upped their price objective on shares of Globe Life from $118.00 to $130.00 and gave the company an "overweight" rating in a report on Friday. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $123.80.

Globe Life Trading Down 3.9 %

The business's 50 day moving average price is $105.21 and its two-hundred day moving average price is $90.90. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $9.44 billion, a price-to-earnings ratio of 9.48 and a beta of 0.81.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating analysts' consensus estimates of $3.06 by $0.43. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the company posted $2.71 EPS. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities analysts predict that Globe Life Inc. will post 11.93 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.96 annualized dividend and a yield of 0.91%. Globe Life's dividend payout ratio is presently 8.68%.

Institutional Investors Weigh In On Globe Life

Several hedge funds have recently added to or reduced their stakes in the business. Nordea Investment Management AB lifted its position in shares of Globe Life by 10,526.9% in the 1st quarter. Nordea Investment Management AB now owns 998,717 shares of the company's stock worth $116,061,000 after purchasing an additional 989,319 shares during the period. D. E. Shaw & Co. Inc. lifted its position in shares of Globe Life by 398.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company's stock worth $88,420,000 after purchasing an additional 859,146 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Globe Life by 104.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company's stock worth $132,577,000 after purchasing an additional 822,638 shares during the period. Millennium Management LLC increased its stake in shares of Globe Life by 177.0% in the 2nd quarter. Millennium Management LLC now owns 1,279,818 shares of the company's stock valued at $105,303,000 after acquiring an additional 817,760 shares in the last quarter. Finally, Pzena Investment Management LLC increased its stake in shares of Globe Life by 146.3% in the 2nd quarter. Pzena Investment Management LLC now owns 930,378 shares of the company's stock valued at $76,552,000 after acquiring an additional 552,634 shares in the last quarter. 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.