StockNews.com cut shares of Globe Life (NYSE:GL – Get Rating) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

Several other equities research analysts have also recently commented on GL. Morgan Stanley boosted their price target on Globe Life from $115.00 to $132.00 and gave the company an underweight rating in a research note on Tuesday, January 10th. Truist Financial boosted their price target on Globe Life from $112.00 to $125.00 and gave the company a hold rating in a research note on Friday, February 3rd. Credit Suisse Group upped their target price on Globe Life from $130.00 to $140.00 and gave the stock an outperform rating in a research report on Monday, December 19th. JPMorgan Chase & Co. upped their target price on Globe Life from $112.00 to $126.00 and gave the stock an overweight rating in a research report on Friday, January 6th. Finally, Piper Sandler upped their target price on Globe Life from $127.00 to $130.00 and gave the stock an overweight rating in a research report on Tuesday, December 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Globe Life has a consensus rating of Moderate Buy and an average target price of $129.43.

Globe Life Price Performance

Shares of GL opened at $121.54 on Tuesday. The company has a market capitalization of $11.82 billion, a price-to-earnings ratio of 16.27 and a beta of 0.82. The business's 50-day moving average is $119.86 and its 200-day moving average is $111.53. Globe Life has a fifty-two week low of $87.87 and a fifty-two week high of $123.85. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL – Get Rating) last announced its quarterly earnings results on Wednesday, February 1st. The company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.17 by $0.07. The business had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.33 billion. Globe Life had a return on equity of 14.60% and a net margin of 14.18%. The firm's quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.70 EPS. Equities research analysts expect that Globe Life will post 10.37 EPS for the current fiscal year.

Globe Life Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 1st. Stockholders of record on Friday, January 6th were given a $0.2075 dividend. The ex-dividend date of this dividend was Thursday, January 5th. This represents a $0.83 annualized dividend and a dividend yield of 0.68%. Globe Life's dividend payout ratio is 11.11%.

Insider Activity

In other news, CEO Larry M. Hutchison sold 13,000 shares of the stock in a transaction that occurred on Wednesday, November 30th. The stock was sold at an average price of $117.27, for a total value of $1,524,510.00. Following the completion of the sale, the chief executive officer now directly owns 730,792 shares of the company's stock, valued at $85,699,977.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Larry M. Hutchison sold 13,000 shares of the company's stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $117.27, for a total value of $1,524,510.00. Following the completion of the transaction, the chief executive officer now directly owns 730,792 shares in the company, valued at $85,699,977.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kenneth J. Matson sold 2,573 shares of the company's stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $116.17, for a total value of $298,905.41. Following the completion of the transaction, the insider now owns 29,153 shares of the company's stock, valued at $3,386,704.01. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,373 shares of company stock valued at $5,855,641. 4.62% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Globe Life by 0.3% during the third quarter. Vanguard Group Inc. now owns 10,638,209 shares of the company's stock worth $1,060,631,000 after acquiring an additional 31,957 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Globe Life by 37.0% during the first quarter. Wellington Management Group LLP now owns 7,308,014 shares of the company's stock worth $735,187,000 after purchasing an additional 1,973,186 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Globe Life by 0.9% during the first quarter. BlackRock Inc. now owns 6,520,494 shares of the company's stock worth $655,963,000 after purchasing an additional 57,587 shares during the last quarter. Boston Partners grew its holdings in shares of Globe Life by 2.2% during the third quarter. Boston Partners now owns 2,546,278 shares of the company's stock worth $254,128,000 after purchasing an additional 54,819 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Globe Life by 112.5% during the fourth quarter. JPMorgan Chase & Co. now owns 2,265,399 shares of the company's stock worth $273,093,000 after purchasing an additional 1,199,227 shares during the last quarter. 81.04% of the stock is currently owned by institutional investors and hedge funds.

About Globe Life

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Globe Life, Inc is a holding company, which engages in the provision of individual life and supplemental health insurance products and services. It operates through the following segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurances.

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