Globe Life (NYSE:GL) Given New $137.00 Price Target at Keefe, Bruyette & Woods

Globe Life (NYSE:GL) had its price target boosted by Keefe, Bruyette & Woods from $135.00 to $137.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also recently commented on GL. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and raised their price target for the company from $132.00 to $143.00 in a report on Wednesday. Piper Sandler boosted their price target on Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Wells Fargo & Company increased their price objective on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Raymond James boosted their target price on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Truist Financial raised their target price on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $134.00.

Globe Life Stock Performance

Shares of GL opened at $112.51 on Friday. Globe Life has a 52 week low of $38.95 and a 52 week high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a market cap of $9.44 billion, a price-to-earnings ratio of 9.52 and a beta of 0.80. The business has a 50-day simple moving average of $108.89 and a two-hundred day simple moving average of $101.76.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.71 EPS. On average, analysts expect that Globe Life will post 12.31 EPS for the current year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 annualized dividend and a yield of 0.85%. Globe Life’s dividend payout ratio is currently 8.12%.

Insiders Place Their Bets

In other news, Director Mark A. Blinn sold 3,000 shares of the business’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 transaction, the director now owns 5,122 shares of the company’s stock, valued at approximately $579,964.06. The trade was a 36.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Frank M. Svoboda sold 13,448 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $112.56, for a total value of $1,513,706.88. Following the completion of the sale, the chief executive officer now owns 18,948 shares of the company’s stock, valued at approximately $2,132,786.88. This represents a 41.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,788 shares of company stock valued at $4,429,779 over the last ninety days. 1.51% of the stock is owned by insiders.

Hedge Funds Weigh In On Globe Life

Hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in Globe Life by 388.0% in the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after purchasing an additional 194 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of Globe Life in the third quarter worth approximately $32,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Globe Life by 88.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after acquiring an additional 281 shares during the last quarter. True Wealth Design LLC purchased a new position in Globe Life during the 3rd quarter valued at $59,000. Finally, Quarry LP grew its position in Globe Life by 47.5% in the 2nd quarter. Quarry LP now owns 838 shares of the company’s stock valued at $69,000 after acquiring an additional 270 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors.

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.