Globe Life (NYSE:GL) PT Raised to $130.00

Globe Life (NYSE:GL) had its price target raised by Piper Sandler from $118.00 to $130.00 in a research report sent to investors on Friday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other analysts have also issued reports about the stock. Keefe, Bruyette & Woods restated an “outperform” rating and set a $118.00 target price (up from $110.00) on shares of Globe Life in a research report on Wednesday, July 31st. Jefferies Financial Group boosted their price objective on shares of Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, June 28th. Wells Fargo & Company raised their target price on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Truist Financial boosted their price target on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a report on Friday. Finally, Morgan Stanley raised their price objective on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $123.80.

Globe Life Price Performance

NYSE GL opened at $105.45 on Friday. The stock has a market capitalization of $9.49 billion, a price-to-earnings ratio of 10.07 and a beta of 0.81. Globe Life has a 1-year low of $38.95 and a 1-year high of $132.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05. The business’s fifty day moving average price is $105.52 and its 200-day moving average price is $91.06.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. Globe Life’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.71 earnings per share. On average, equities analysts predict that Globe Life will post 11.93 earnings per share for the current year.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Friday, October 4th. Globe Life’s dividend payout ratio (DPR) is currently 9.17%.

Hedge Funds Weigh In On Globe Life

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Globe Life by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock worth $1,309,755,000 after purchasing an additional 425,993 shares in the last quarter. Boston Partners boosted its stake in Globe Life by 6.4% during the first quarter. Boston Partners now owns 2,092,526 shares of the company’s stock valued at $243,200,000 after buying an additional 125,457 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Globe Life by 104.3% during the second quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company’s stock valued at $132,577,000 after buying an additional 822,638 shares during the last quarter. Millennium Management LLC increased its stake in Globe Life by 177.0% in the 2nd quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock worth $105,303,000 after acquiring an additional 817,760 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of Globe Life by 398.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company’s stock worth $88,420,000 after acquiring an additional 859,146 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.

About Globe Life

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.