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

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

Several other equities analysts have also commented on GL. TD Cowen assumed coverage on Globe Life in a research note on Wednesday, October 9th. They set a “buy” rating and a $150.00 price target on the stock. Jefferies Financial Group raised their target price 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. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $118.00 price target (up previously from $110.00) on shares of Globe Life in a research report on Wednesday, July 31st. Morgan Stanley lifted their price objective on shares of Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Truist Financial upped their target price on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Friday. Five 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $123.80.

Globe Life Trading Down 3.9 %

GL stock traded down $4.24 during midday trading on Friday, reaching $105.15. The company’s stock had a trading volume of 1,135,956 shares, compared to its average volume of 1,597,292. The firm has a market capitalization of $9.47 billion, a price-to-earnings ratio of 10.04 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 quick ratio of 0.05 and a current ratio of 0.05. The stock has a fifty day simple moving average of $105.37 and a two-hundred day simple moving average of $90.88.

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

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.91%. The ex-dividend date is Friday, October 4th. Globe Life’s dividend payout ratio is presently 9.17%.

Institutional Investors Weigh In On Globe Life

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised 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 acquiring an additional 425,993 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Globe Life by 7.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,607 shares of the company’s stock valued at $11,824,000 after buying an additional 7,100 shares during the last quarter. Savant Capital LLC raised its position in Globe Life by 951.5% during the 2nd quarter. Savant Capital LLC now owns 75,214 shares of the company’s stock worth $6,189,000 after buying an additional 68,061 shares during the last quarter. Achmea Investment Management B.V. lifted its stake in Globe Life by 151.4% during the 2nd quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company’s stock valued at $2,443,000 after acquiring an additional 17,878 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in shares of Globe Life by 308.5% in the 1st quarter. Bessemer Group Inc. now owns 11,827 shares of the company’s stock valued at $1,377,000 after acquiring an additional 8,932 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

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.