Globe Life (NYSE:GL) Price Target Increased to $118.00 by Analysts at Piper Sandler

Globe Life (NYSE:GL) had its price objective upped by Piper Sandler from $106.00 to $118.00 in a report published on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts also recently issued reports on the company. Keefe, Bruyette & Woods reissued an outperform rating and set a $118.00 price target (up previously from $110.00) on shares of Globe Life in a research report on Wednesday, July 31st. Truist Financial raised their price target on Globe Life from $80.00 to $90.00 and gave the stock a hold rating in a research report on Friday, July 26th. Wells Fargo & Company upped their price objective on shares of Globe Life from $105.00 to $108.00 and gave the stock an overweight rating in a research report on Friday, July 26th. Evercore ISI raised their target price on shares of Globe Life from $83.00 to $86.00 and gave the company an in-line rating in a report on Wednesday, June 26th. Finally, Jefferies Financial Group boosted 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. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $109.67.

Globe Life Stock Up 1.8 %

GL opened at $106.52 on Wednesday. The stock has a fifty day moving average of $100.56 and a 200-day moving average of $91.49. The company has a market capitalization of $9.59 billion, a P/E ratio of 10.17 and a beta of 0.81. Globe Life has a fifty-two week low of $38.95 and a fifty-two week 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.

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. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.61 EPS. On average, equities analysts expect that Globe Life will post 11.93 EPS for the current year.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.90%. The ex-dividend date is Friday, October 4th. Globe Life’s payout ratio is 9.17%.

Insiders Place Their Bets

In other news, Director Mary E. Thigpen purchased 3,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was bought at an average cost of $90.20 per share, for a total transaction of $270,600.00. Following the purchase, the director now owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.51% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Globe Life by 3.9% in the first quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock valued at $1,309,755,000 after acquiring an additional 425,993 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Globe Life by 7.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,607 shares of the company’s stock valued at $11,824,000 after purchasing an additional 7,100 shares during the last quarter. Quadrature Capital Ltd increased its position in shares of Globe Life by 69.2% during the fourth quarter. Quadrature Capital Ltd now owns 38,785 shares of the company’s stock worth $4,724,000 after buying an additional 15,862 shares during the period. Savant Capital LLC raised its stake in Globe Life by 951.5% during the second 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. Finally, Achmea Investment Management B.V. lifted its holdings in Globe Life by 151.4% in the second quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company’s stock valued at $2,443,000 after buying an additional 17,878 shares during the period. 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.