Globe Life (NYSE:GL) Given New $145.00 Price Target at Keefe, Bruyette & Woods

Globe Life (NYSE:GL) had its price objective increased by Keefe, Bruyette & Woods from $137.00 to $145.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

GL has been the topic of a number of other research reports. Truist Financial upped their target price on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Jefferies Financial Group upped their target price on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Piper Sandler upped their target price on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Raymond James upped their target price on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and upped their target price for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $133.10.

Globe Life Price Performance

Shares of GL stock opened at $121.51 on Wednesday. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The firm has a market capitalization of $10.20 billion, a price-to-earnings ratio of 10.17 and a beta of 0.81. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The stock’s 50-day simple moving average is $113.98 and its 200-day simple moving average is $107.66.

Globe Life (NYSE:GL) last issued 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%. As a group, equities analysts forecast that Globe Life will post 13.57 earnings per share for the current fiscal year.

Globe Life Announces Dividend

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

Insider Transactions at Globe Life

In other news, Director Mark A. Blinn sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the transaction, the director now directly owns 5,122 shares of the company’s stock, valued at $579,964.06. This represents a 36.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Frank M. Svoboda sold 14,340 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the transaction, the chief executive officer now directly owns 16,396 shares of the company’s stock, valued at approximately $1,783,884.80. The trade was a 46.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,678 shares of company stock valued at $7,454,412 in the last three months. 1.51% of the stock is currently owned by company insiders.

Institutional Trading of Globe Life

Several large investors have recently made changes to their positions in GL. Exchange Traded Concepts LLC purchased a new stake in shares of Globe Life during the third quarter worth approximately $247,000. Creative Planning increased its position in shares of Globe Life by 43.8% during the third quarter. Creative Planning now owns 32,477 shares of the company’s stock worth $3,440,000 after purchasing an additional 9,892 shares in the last quarter. nVerses Capital LLC increased its position in shares of Globe Life by 1,150.0% during the third quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock worth $265,000 after purchasing an additional 2,300 shares in the last quarter. Net Worth Advisory Group purchased a new stake in shares of Globe Life during the third quarter worth approximately $674,000. Finally, Riverview Trust Co purchased a new stake in shares of Globe Life during the third quarter worth approximately $32,000. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

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.