Raymond James Raises Globe Life (NYSE:GL) Price Target to $188.00

Globe Life (NYSE:GL) had its price target hoisted by Raymond James from $160.00 to $188.00 in a report published on Tuesday morning, Benzinga reports. They currently have a strong-buy rating on the stock.

Several other research firms have also recently issued reports on GL. Truist Financial raised their price objective on Globe Life from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, July 26th. TD Cowen initiated coverage on Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price target on the stock. Wells Fargo & Company upped their price objective on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Morgan Stanley raised their target price on shares of Globe Life from $66.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Finally, Piper Sandler upped their price target on shares of Globe Life from $106.00 to $118.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $117.40.

Globe Life Trading Down 1.6 %

Globe Life stock opened at $109.05 on Tuesday. The stock has a 50-day moving average price of $103.52 and a 200 day moving average price of $90.93. Globe Life has a 52 week low of $38.95 and a 52 week high of $132.00. The stock has a market cap of $9.82 billion, a PE ratio of 10.42 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 0.31.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the previous year, the business posted $2.61 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. Equities research analysts predict that Globe Life will post 11.93 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, October 4th. Globe Life’s dividend payout ratio is presently 9.17%.

Insider Activity at Globe Life

In related news, Director Mary E. Thigpen purchased 3,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was purchased 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 approximately $1,407,571. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.51% of the company’s stock.

Institutional Trading of Globe Life

Several large investors have recently bought and sold shares of the company. Keener Financial Planning LLC acquired a new stake in shares of Globe Life during the first quarter valued at about $49,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Globe Life by 88.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after purchasing an additional 281 shares in the last quarter. LRI Investments LLC boosted its stake in shares of Globe Life by 898.4% during the 2nd quarter. LRI Investments LLC now owns 619 shares of the company’s stock valued at $51,000 after buying an additional 557 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of Globe Life during the second quarter worth approximately $54,000. Finally, Blue Trust Inc. grew its position in shares of Globe Life by 249.5% during the second quarter. Blue Trust Inc. now owns 776 shares of the company’s stock worth $64,000 after buying an additional 554 shares in the last quarter. Institutional investors and hedge funds 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.