Keefe, Bruyette & Woods Reaffirms Outperform Rating for Globe Life (NYSE:GL)

Keefe, Bruyette & Woods reaffirmed their outperform rating on shares of Globe Life (NYSE:GL) in a report published on Wednesday morning, Benzinga reports. The brokerage currently has a $118.00 target price on the stock, up from their prior target price of $110.00.

Other analysts also recently issued research reports about the stock. Raymond James reissued a strong-buy rating on shares of Globe Life in a report on Tuesday, May 21st. Evercore ISI boosted their price target on Globe Life from $83.00 to $86.00 and gave the company an in-line rating in a research note on Wednesday, June 26th. Piper Sandler raised their price objective on Globe Life from $105.00 to $106.00 and gave the stock an overweight rating in a research note on Friday, July 26th. 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 report on Friday, June 28th. Finally, Morgan Stanley upped their price target on shares of Globe Life from $62.00 to $65.00 and gave the stock an equal weight rating in a report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $106.33.

Globe Life Trading Down 2.2 %

Globe Life stock opened at $90.90 on Wednesday. The stock has a 50-day simple moving average of $84.51 and a 200 day simple moving average of $98.46. The stock has a market capitalization of $8.18 billion, a P/E ratio of 8.68 and a beta of 0.80. 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 has a 52 week low of $38.95 and a 52 week high of $132.00.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. Globe Life had a return on equity of 22.53% and a net margin of 18.47%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.61 EPS. Analysts expect that Globe Life will post 11.92 earnings per share for the current year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Friday, July 5th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Friday, July 5th. Globe Life’s payout ratio is 9.17%.

Insider Activity

In related news, Director Mary E. Thigpen acquired 3,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were bought at an average price of $90.20 per share, with a total value of $270,600.00. Following the transaction, the director now directly owns 15,605 shares of the company’s stock, valued at $1,407,571. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Mary E. Thigpen bought 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were bought at an average cost of $90.20 per share, for a total transaction of $270,600.00. Following the acquisition, the director now directly owns 15,605 shares in the company, valued at $1,407,571. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas Peter Kalmbach acquired 500 shares of the stock in a transaction on Friday, May 17th. The shares were acquired at an average price of $84.43 per share, for a total transaction of $42,215.00. Following the acquisition, the chief financial officer now owns 18,080 shares of the company’s stock, valued at approximately $1,526,494.40. The disclosure for this purchase can be found here. Insiders purchased 8,000 shares of company stock worth $687,880 in the last quarter. 1.51% of the stock is owned by corporate insiders.

Institutional Trading of Globe Life

Institutional investors have recently made changes to their positions in the company. Private Trust Co. NA increased its position in shares of Globe Life by 270.0% during the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after purchasing an additional 162 shares during the last quarter. Private Wealth Management Group LLC purchased a new position in Globe Life in the fourth quarter valued at about $27,000. Lindbrook Capital LLC grew its position in shares of Globe Life by 62.2% during the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after acquiring an additional 92 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in shares of Globe Life by 177.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock valued at $34,000 after acquiring an additional 177 shares during the period. Finally, Keener Financial Planning LLC purchased a new stake in shares of Globe Life during the 1st quarter worth approximately $49,000. 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.