Globe Life (NYSE:GL) Coverage Initiated by Analysts at TD Cowen

TD Cowen began coverage on shares of Globe Life (NYSE:GL) in a research note released on Wednesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $150.00 price objective on the stock.

A number of other equities research analysts also recently commented on the company. Jefferies Financial Group lifted their price objective on Globe Life from $85.00 to $88.00 and gave the company a hold rating in a research report on Friday, June 28th. Evercore ISI raised their target price on shares of Globe Life from $83.00 to $86.00 and gave the stock an in-line rating in a research report on Wednesday, June 26th. Wells Fargo & Company upped their price target on shares of Globe Life from $105.00 to $108.00 and gave the stock an overweight rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods reaffirmed an outperform rating and set a $118.00 price target (up previously from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Finally, Piper Sandler boosted their price objective on shares of Globe Life from $106.00 to $118.00 and gave the company an overweight rating in a research note on Wednesday, October 2nd. Five equities research 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. According to data from MarketBeat, Globe Life currently has a consensus rating of Moderate Buy and a consensus price target of $113.70.

Globe Life Stock Performance

NYSE:GL opened at $107.20 on Wednesday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.31. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The firm’s fifty day simple moving average is $101.27 and its 200-day simple moving average is $91.07. The stock has a market cap of $9.65 billion, a PE ratio of 10.24 and a beta of 0.81.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, topping 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 company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the business earned $2.61 earnings per share. Globe Life’s quarterly revenue was up 8.6% compared to the same quarter last year. Analysts expect that Globe Life will post 11.93 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.90%. Globe Life’s dividend payout ratio (DPR) is 9.17%.

Insider Activity at Globe Life

In related news, Director Mary E. Thigpen bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average cost of $90.20 per share, for a total transaction of $270,600.00. Following the acquisition, the director now owns 15,605 shares in the company, valued at $1,407,571. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 1.51% of the stock is owned by insiders.

Institutional Investors Weigh In On Globe Life

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GL. Keener Financial Planning LLC purchased a new stake in Globe Life during the 1st quarter worth approximately $49,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Globe Life by 88.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after buying an additional 281 shares during the last quarter. LRI Investments LLC raised its holdings in Globe Life by 898.4% in the second quarter. LRI Investments LLC now owns 619 shares of the company’s stock valued at $51,000 after acquiring an additional 557 shares in the last quarter. Family Firm Inc. bought a new position in Globe Life during the 2nd quarter valued at $54,000. Finally, Blue Trust Inc. grew its holdings in Globe Life by 249.5% during the 2nd quarter. Blue Trust Inc. now owns 776 shares of the company’s stock worth $64,000 after acquiring an additional 554 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

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.