2 weeks Ago By ABMN Staff
Globe Life Inc. ( NYSE:GL – Get Free Report )’s share price was down 4.9% during mid-day trading on Friday .
The company traded as low as $103.02 and last traded at $104.21.
Approximately 589,207 shares changed hands during trading, a decline of 65% from the average daily volume of 1,698,394 shares. The stock had previously closed at $109.60.
Wall Street Analysts Forecast Growth A number of equities analysts recently weighed in on GL shares. 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 research report on Wednesday, July 31st. Morgan Stanley lifted their target price on shares of Globe Life from $66.00 to $83.
00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Piper Sandler boosted their price target on shares of Globe Life from $105.00 to $106.
00 and gave the company an “overweight” rating in a report on Friday, July 26th. Wells Fargo & Company raised their price objective on shares of Globe Life from $105.00 to $108.
00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, Jefferies Financial Group boosted their target price on shares of Globe Life from $85.00 to $88.
00 and gave the company a “hold” rating in a research note on Friday, June 28th. Five 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.
com, the company has an average rating of “Moderate Buy” and a consensus price target of $108.33. View Our Latest Stock Report on GL Globe Life Stock Down 4.
7 % Globe Life ( NYSE:GL – Get Free Report ) last released its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.
90 by $0.07. Globe Life had a return on equity of 21.
93% and a net margin of 18.47%. The firm had revenue of $1.
44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the firm earned $2.
61 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis.
Sell-side analysts expect that Globe Life Inc. will post 11.93 earnings per share for the current year.
Globe Life Dividend Announcement The firm also recently disclosed 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.
This represents a $0.96 annualized dividend and a yield of 0.92%.
The ex-dividend date of this dividend is Friday, October 4th. Globe Life’s payout ratio is presently 9.17%.
Insider Buying and Selling at Globe Life In other Globe Life news, Director Mary E. Thigpen purchased 3,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were acquired at an average price of $90.
20 per share, for a total transaction of $270,600.00. Following the acquisition, the director now owns 15,605 shares of the company’s stock, valued at $1,407,571.
The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink . Corporate insiders own 1.51% of the company’s stock.
Institutional Inflows and Outflows A number of hedge funds have recently made changes to their positions in GL. Heritage Wealth Management Inc. bought a new stake in shares of Globe Life during the 2nd quarter worth $372,000.
Sanctuary Advisors LLC bought a new stake in Globe Life during the second quarter valued at about $1,021,000. Truist Financial Corp grew its position in shares of Globe Life by 80.5% in the second quarter.
Truist Financial Corp now owns 290,030 shares of the company’s stock valued at $23,864,000 after purchasing an additional 129,307 shares during the last quarter. Point72 Asset Management L.P.
bought a new position in shares of Globe Life in the second quarter worth about $389,000. Finally, Quarry LP lifted its position in shares of Globe Life by 47.5% during the 2nd quarter.
Quarry LP now owns 838 shares of the company’s stock worth $69,000 after purchasing an additional 270 shares during the last quarter. Institutional investors and hedge funds 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 Receive News & Ratings for Globe Life Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globe Life and related companies with MarketBeat.
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