Globe Life (NYSE:GL) PT Raised to $88.00 at Jefferies Financial Group

Globe Life (NYSE:GL) had its price target hoisted by Jefferies Financial Group from $85.00 to $88.00 in a research note published on Friday, Benzinga reports. They currently have a hold rating on the stock.

GL has been the topic of several other research reports. Evercore ISI upped their target price on shares of Globe Life from $83.00 to $86.00 and gave the stock an in-line rating in a research note on Wednesday, June 26th. StockNews.com cut shares of Globe Life from a buy rating to a hold rating in a report on Saturday, April 20th. Wells Fargo & Company reduced their price objective on shares of Globe Life from $132.00 to $108.00 and set an overweight rating for the company in a research note on Wednesday, April 24th. Truist Financial reduced their price objective on shares of Globe Life from $125.00 to $80.00 and set a hold rating for the company in a research note on Wednesday, April 24th. Finally, Raymond James restated a strong-buy rating on shares of Globe Life in a research report on Tuesday, May 21st. Five equities research analysts have rated the stock with a hold rating, four 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 an average rating of Moderate Buy and an average target price of $111.67.

Globe Life Price Performance

Shares of NYSE:GL opened at $82.78 on Friday. The stock has a market cap of $7.64 billion, a PE ratio of 7.91 and a beta of 0.81. The company’s fifty day moving average is $82.05 and its 200 day moving average is $103.89. 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 0.32.

Globe Life (NYSE:GL) last released its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Globe Life had a net margin of 18.07% and a return on equity of 23.01%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the firm posted $2.53 EPS. Globe Life’s revenue was up 7.2% compared to the same quarter last year. Research analysts anticipate that Globe Life will post 11.72 earnings per share for the current year.

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, July 5th. Globe Life’s dividend payout ratio is currently 9.17%.

Insider Activity

In other news, CFO Thomas Peter Kalmbach purchased 500 shares of the stock in a transaction dated Friday, May 17th. The shares were acquired at an average cost 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 $1,526,494.40. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Globe Life news, EVP Robert Edward Hensley acquired 2,500 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was acquired at an average cost of $82.17 per share, for a total transaction of $205,425.00. Following the purchase, the executive vice president now owns 7,290 shares in the company, valued at approximately $599,019.30. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas Peter Kalmbach acquired 500 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were acquired at an average price of $84.43 per share, with a total value of $42,215.00. Following the completion of the purchase, the chief financial officer now owns 18,080 shares in the company, valued at approximately $1,526,494.40. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 6,500 shares of company stock worth $536,860. Corporate insiders own 1.51% of the company’s stock.

Institutional Investors Weigh In On Globe Life

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Private Trust Co. NA grew its holdings in shares of Globe Life by 270.0% during the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after buying an additional 162 shares in the last quarter. Private Wealth Management Group LLC purchased a new stake in shares of Globe Life during the fourth quarter worth $27,000. BKM Wealth Management LLC purchased a new stake in shares of Globe Life during the fourth quarter worth $28,000. Lindbrook Capital LLC grew its holdings in shares of Globe Life by 62.2% during the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after buying an additional 92 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Globe Life by 177.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock worth $34,000 after buying an additional 177 shares in the last quarter. Hedge funds and other 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.