Jefferies Financial Group Raises Globe Life (NYSE:GL) Price Target to $88.00

Globe Life (NYSE:GL) had its target price increased by Jefferies Financial Group from $85.00 to $88.00 in a research note released on Friday morning, Benzinga reports. They currently have a hold rating on the stock.

Other equities analysts also recently issued research reports about the company. Keefe, Bruyette & Woods raised Globe Life from a market perform rating to an outperform rating and reduced their price target for the stock from $130.00 to $110.00 in a research report on Wednesday, April 24th. Wells Fargo & Company lowered their price target on shares of Globe Life from $132.00 to $108.00 and set an overweight rating on the stock in a research note on Wednesday, April 24th. Piper Sandler reduced their price objective on shares of Globe Life from $110.00 to $105.00 and set an overweight rating for the company in a research note on Friday. Raymond James restated a strong-buy rating on shares of Globe Life in a report on Tuesday, May 21st. Finally, Truist Financial dropped their target price on Globe Life from $125.00 to $80.00 and set a hold rating on the stock in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $111.67.

Globe Life Stock Down 0.0 %

Shares of GL stock opened at $82.20 on Friday. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average of $81.72 and a 200-day moving average of $104.45. The company has a market capitalization of $7.58 billion, a price-to-earnings ratio of 7.85 and a beta of 0.81.

Globe Life (NYSE:GL) last released its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.42 billion. Globe Life had a return on equity of 23.01% and a net margin of 18.07%. Globe Life’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the company posted $2.53 EPS. As a group, equities research analysts predict that Globe Life will post 11.72 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $0.96 annualized dividend and a yield of 1.17%. Globe Life’s dividend payout ratio is 9.17%.

Insider Activity

In other Globe Life news, EVP Robert Edward Hensley purchased 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average price of $82.17 per share, for a total transaction of $205,425.00. Following the purchase, the executive vice president now owns 7,290 shares in the company, valued at $599,019.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Thomas Peter Kalmbach acquired 500 shares of the business’s stock in a transaction on Friday, May 17th. The stock was purchased at an average cost of $84.43 per share, for a total transaction of $42,215.00. Following the completion of the transaction, the chief financial officer now directly owns 18,080 shares of the company’s stock, valued at approximately $1,526,494.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Robert Edward Hensley bought 2,500 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was purchased at an average cost of $82.17 per share, for a total transaction of $205,425.00. Following the transaction, the executive vice president now directly owns 7,290 shares of the company’s stock, valued at approximately $599,019.30. The disclosure for this purchase can be found here. Insiders acquired a total of 6,500 shares of company stock valued at $536,860 over the last three months. Insiders own 1.51% of the company’s stock.

Institutional Trading of Globe Life

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new position in Globe Life during the 4th quarter worth $123,682,000. Nordea Investment Management AB increased its position in Globe Life by 10,526.9% during the first quarter. Nordea Investment Management AB now owns 998,717 shares of the company’s stock worth $116,061,000 after acquiring an additional 989,319 shares during the period. Vanguard Group Inc. increased its position in Globe Life by 3.9% during the first quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock worth $1,309,755,000 after acquiring an additional 425,993 shares during the period. Corient Private Wealth LLC raised its stake in Globe Life by 1,367.8% in the 4th quarter. Corient Private Wealth LLC now owns 362,535 shares of the company’s stock worth $44,128,000 after purchasing an additional 337,836 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in Globe Life by 169.4% in the 4th quarter. California Public Employees Retirement System now owns 484,982 shares of the company’s stock valued at $59,032,000 after purchasing an additional 304,942 shares during the period. 81.61% of the stock is 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.