Globe Life (NYSE:GL) Price Target Increased to $90.00 by Analysts at Truist Financial

Globe Life (NYSE:GL) had its price target raised by Truist Financial from $80.00 to $90.00 in a research note published on Friday morning, Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other brokerages also recently issued reports on GL. Wells Fargo & Company lifted their price objective on Globe Life from $105.00 to $108.00 and gave the company an overweight rating in a research report on Friday. Evercore ISI lifted their price target on Globe Life from $83.00 to $86.00 and gave the company an in-line rating in a report on Wednesday, June 26th. Piper Sandler decreased their price objective on shares of Globe Life from $110.00 to $105.00 and set an overweight rating on the stock in a report on Friday, June 28th. StockNews.com downgraded shares of Globe Life from a buy rating to a hold rating in a research note on Saturday, April 20th. Finally, Jefferies Financial Group upped their target price on shares of Globe Life from $85.00 to $88.00 and gave the stock a hold rating in a research report on Friday, June 28th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $105.44.

Globe Life Stock Up 1.8 %

GL opened at $90.69 on Friday. Globe Life has a twelve month low of $38.95 and a twelve month high of $132.00. The firm has a market cap of $8.17 billion, a price-to-earnings ratio of 8.66 and a beta of 0.81. The firm’s 50-day simple moving average is $83.59 and its 200-day simple moving average is $99.41. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.07. Globe Life had a net margin of 18.47% and a return on equity of 22.53%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the prior year, the firm earned $2.61 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that Globe Life will post 11.86 EPS 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. Investors of record on Friday, July 5th will be issued a $0.24 dividend. The ex-dividend date is Friday, July 5th. This represents a $0.96 annualized dividend and a yield of 1.06%. Globe Life’s dividend payout ratio is currently 9.17%.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO James Matthew Darden bought 2,000 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was bought at an average price of $84.82 per share, for a total transaction of $169,640.00. Following the transaction, the chief executive officer now owns 37,973 shares of the company’s stock, valued at approximately $3,220,869.86. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO James Matthew Darden bought 2,000 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was bought at an average cost of $84.82 per share, for a total transaction of $169,640.00. Following the transaction, the chief executive officer now owns 37,973 shares of the company’s stock, valued at $3,220,869.86. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mary E. Thigpen purchased 3,000 shares of the stock in a transaction dated Friday, July 26th. The stock was bought at an average cost of $90.20 per share, with a total value of $270,600.00. Following the completion of the purchase, the director now owns 15,605 shares in the company, valued at $1,407,571. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 8,000 shares of company stock valued at $687,880. 1.51% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Globe Life

Several institutional investors and hedge funds have recently made changes to their positions in GL. Private Wealth Management Group LLC acquired a new position in shares of Globe Life in the 4th quarter valued at approximately $27,000. Private Trust Co. NA lifted its stake in Globe Life by 270.0% in the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after buying an additional 162 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in shares of Globe Life by 62.2% in the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after buying an additional 92 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in shares of Globe Life by 177.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock worth $34,000 after acquiring an additional 177 shares in the last quarter. Finally, Keener Financial Planning LLC acquired a new stake in shares of Globe Life during the first quarter worth $49,000. Institutional investors and hedge funds 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.