Globe Life (NYSE:GL) Price Target Raised to $152.00

Globe Life (NYSE:GL) had its price target hoisted by Piper Sandler from $140.00 to $152.00 in a report released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also weighed in on GL. Keefe, Bruyette & Woods boosted their target price on shares of Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Morgan Stanley upped their price objective on Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. JPMorgan Chase & Co. raised their target price on Globe Life from $136.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday. Jefferies Financial Group upped their price target on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Finally, BMO Capital Markets initiated coverage on Globe Life in a research report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price objective for the company. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Globe Life presently has an average rating of “Moderate Buy” and an average price target of $138.45.

Globe Life Price Performance

GL stock opened at $133.30 on Wednesday. Globe Life has a 1 year low of $38.95 and a 1 year high of $135.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market capitalization of $11.10 billion, a PE ratio of 11.15 and a beta of 0.77. The business has a 50 day simple moving average of $124.75 and a 200-day simple moving average of $114.54.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. Equities research analysts anticipate that Globe Life will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be issued a $0.27 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.81%. This is a boost from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s payout ratio is 9.04%.

Insiders Place Their Bets

In other Globe Life news, CEO Frank M. Svoboda sold 11,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the sale, the chief executive officer now owns 18,948 shares in the company, valued at $2,317,529.88. This represents a 36.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James Matthew Darden sold 24,890 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total value of $3,024,632.80. Following the transaction, the chief executive officer now directly owns 38,973 shares of the company’s stock, valued at approximately $4,735,998.96. This represents a 38.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,338 shares of company stock worth $7,239,630 in the last ninety days. 1.51% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Globe Life

Institutional investors have recently modified their holdings of the company. Private Trust Co. NA boosted its stake in Globe Life by 12.5% during the 4th quarter. Private Trust Co. NA now owns 754 shares of the company’s stock worth $84,000 after purchasing an additional 84 shares during the period. HighPoint Advisor Group LLC boosted its stake in shares of Globe Life by 4.0% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,271 shares of the company’s stock worth $276,000 after buying an additional 87 shares during the period. Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Globe Life by 4.0% during the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company’s stock worth $256,000 after buying an additional 88 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $41,000 after acquiring an additional 90 shares during the period. Finally, New Mexico Educational Retirement Board raised its stake in Globe Life by 2.4% during the 4th quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company’s stock valued at $472,000 after acquiring an additional 100 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

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.