Globe Life (NYSE:GL) Given New $188.00 Price Target at Raymond James

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

GL has been the topic of several other research reports. Jefferies Financial Group boosted their price target 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 reissued an outperform rating and set a $118.00 target price (up previously from $110.00) on shares of Globe Life in a report on Wednesday, July 31st. Wells Fargo & Company increased their target price on Globe Life from $108.00 to $117.00 and gave the stock an overweight rating in a research report on Thursday, October 10th. Piper Sandler lifted their price target on Globe Life from $106.00 to $118.00 and gave the company an overweight rating in a research report on Wednesday, October 2nd. Finally, TD Cowen began coverage on Globe Life in a report on Wednesday, October 9th. They set a buy rating and a $150.00 price objective on the stock. Five equities 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’s stock. According to data from MarketBeat, Globe Life currently has a consensus rating of Moderate Buy and a consensus target price of $117.40.

Globe Life Price Performance

Shares of NYSE GL opened at $110.80 on Tuesday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $102.72 and a two-hundred day simple moving average of $90.66. Globe Life has a 1-year low of $38.95 and a 1-year high of $132.00. The firm has a market cap of $9.98 billion, a price-to-earnings ratio of 10.58 and a beta of 0.81.

Globe Life (NYSE:GL) last posted its quarterly earnings results 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. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the company earned $2.61 EPS. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. Analysts anticipate that Globe Life will post 11.93 earnings per share for the current year.

Globe Life Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Friday, October 4th. Globe Life’s dividend payout ratio is currently 9.17%.

Insider Activity

In related news, Director Mary E. Thigpen bought 3,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.51% of the company’s stock.

Institutional Investors Weigh In On Globe Life

Institutional investors have recently made changes to their positions in the business. Keener Financial Planning LLC bought a new stake in Globe Life in the first quarter valued at approximately $49,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Globe Life by 88.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after buying an additional 281 shares during the period. LRI Investments LLC raised its holdings in 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. purchased a new stake in Globe Life during the 2nd quarter valued at $54,000. Finally, Blue Trust Inc. grew its holdings in Globe Life by 249.5% in the 2nd quarter. Blue Trust Inc. now owns 776 shares of the company’s stock worth $64,000 after acquiring an additional 554 shares during the last quarter. Hedge funds and other institutional investors 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.