Keefe, Bruyette & Woods Boosts Globe Life (NYSE:GL) Price Target to $145.00

Globe Life (NYSE:GL) had its price objective hoisted by Keefe, Bruyette & Woods from $137.00 to $145.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

GL has been the subject of a number of other reports. BMO Capital Markets initiated coverage on Globe Life in a report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price target for the company. Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and raised their target price for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. Jefferies Financial Group raised their target price on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Truist Financial raised their target price on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a report on Friday, October 25th. Finally, Piper Sandler raised their target price on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Five research analysts have rated the stock with a hold rating, five 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 has a consensus rating of “Moderate Buy” and an average price target of $133.10.

Globe Life Stock Performance

NYSE GL opened at $121.51 on Wednesday. The stock has a market cap of $10.20 billion, a PE ratio of 10.17 and a beta of 0.81. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life has a twelve month low of $38.95 and a twelve month high of $132.00. The stock has a fifty day simple moving average of $113.98 and a 200-day simple moving average of $107.66.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, topping analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. Equities analysts anticipate that Globe Life will post 13.57 earnings per share for the current year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Monday, January 6th. Globe Life’s payout ratio is presently 8.03%.

Insider Activity

In related news, CEO James Matthew Darden sold 24,890 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the completion of the sale, the chief executive officer now owns 38,973 shares in the company, valued at $4,735,998.96. The trade was a 38.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank M. Svoboda sold 13,448 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $112.56, for a total value of $1,513,706.88. Following the sale, the chief executive officer now owns 18,948 shares of the company’s stock, valued at approximately $2,132,786.88. The trade was a 41.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,678 shares of company stock worth $7,454,412. 1.51% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Globe Life

Institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its stake in Globe Life by 388.0% during the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after purchasing an additional 194 shares during the last quarter. Albion Financial Group UT acquired a new position in Globe Life during the fourth quarter worth approximately $28,000. Rakuten Securities Inc. acquired a new position in Globe Life during the fourth quarter worth approximately $28,000. Riverview Trust Co acquired a new position in shares of Globe Life in the third quarter valued at approximately $32,000. Finally, Avalon Trust Co acquired a new position in shares of Globe Life in the fourth quarter valued at approximately $41,000. 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.