Globe Life (NYSE:GL) PT Raised to $118.00 at Piper Sandler

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

A number of other analysts have also recently issued reports on the company. Keefe, Bruyette & Woods reissued an outperform rating and set a $118.00 target price (up from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Morgan Stanley raised their price objective on shares of Globe Life from $66.00 to $83.00 and gave the stock an equal weight rating in a report on Monday, August 19th. Truist Financial upped their target price on shares of Globe Life from $80.00 to $90.00 and gave the stock a hold rating in a research note on Friday, July 26th. Jefferies Financial Group lifted their price target on Globe Life from $85.00 to $88.00 and gave the company a hold rating in a research note on Friday, June 28th. Finally, Evercore ISI upped their price objective on Globe Life from $83.00 to $86.00 and gave the stock an in-line rating in a research report on Wednesday, June 26th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $109.67.

Globe Life Trading Up 1.8 %

GL opened at $106.52 on Wednesday. Globe Life has a twelve month low of $38.95 and a twelve month high of $132.00. The firm has a market cap of $9.59 billion, a PE ratio of 10.17 and a beta of 0.81. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.05 and a current ratio of 0.05. The firm’s fifty day moving average is $100.56 and its two-hundred day moving average is $91.49.

Globe Life (NYSE:GL) last posted its 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 firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the company posted $2.61 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities research analysts anticipate that Globe Life will post 11.93 EPS for the current year.

Globe Life Dividend Announcement

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

Insider Activity at Globe Life

In other news, Director Mary E. Thigpen purchased 3,000 shares of the business’s stock in a transaction on Friday, July 26th. The stock was purchased at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the completion of the purchase, the director now directly owns 15,605 shares in the company, valued at $1,407,571. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.51% of the stock is owned by company insiders.

Institutional Trading of Globe Life

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Globe Life by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock worth $1,309,755,000 after acquiring an additional 425,993 shares during the last quarter. Boston Partners increased its holdings in shares of Globe Life by 6.4% in the first quarter. Boston Partners now owns 2,092,526 shares of the company’s stock valued at $243,200,000 after purchasing an additional 125,457 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Globe Life by 104.3% in the second quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company’s stock valued at $132,577,000 after purchasing an additional 822,638 shares during the period. Millennium Management LLC lifted its stake in shares of Globe Life by 177.0% during the 2nd quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock worth $105,303,000 after buying an additional 817,760 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of Globe Life by 398.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company’s stock worth $88,420,000 after buying an additional 859,146 shares during the period. 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.