Globe Life (NYSE:GL) Price Target Raised to $145.00 at JPMorgan Chase & Co.

Globe Life (NYSE:GL) had its price objective hoisted by JPMorgan Chase & Co. from $136.00 to $145.00 in a research report released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other analysts have also recently issued reports on GL. Keefe, Bruyette & Woods boosted their price objective on shares of Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. BMO Capital Markets started coverage on Globe Life in a research report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price target for the company. Jefferies Financial Group raised their price objective on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Morgan Stanley boosted their target price on Globe Life from $125.00 to $126.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Finally, Evercore ISI upgraded shares of 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, January 8th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Globe Life currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.45.

Globe Life Stock Performance

NYSE GL opened at $133.30 on Wednesday. The business’s 50-day moving average price is $124.75 and its 200 day moving average price is $114.54. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life has a twelve month low of $38.95 and a twelve month high of $135.00. The company has a market capitalization of $11.10 billion, a PE ratio of 11.15 and a beta of 0.77.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, topping the consensus estimate of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. On average, research analysts predict that Globe Life will post 13.87 earnings per share for the current year.

Globe Life Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be paid a $0.27 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This is an increase from Globe Life’s previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a dividend yield of 0.81%. Globe Life’s dividend payout ratio is 9.04%.

Insider Buying and Selling

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the firm’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 completion of the sale, the director now owns 5,122 shares in the company, valued at $579,964.06. This trade represents a 36.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $112.91, for a total value of $1,016,190.00. Following the completion of the transaction, the chief marketing officer now directly owns 13,485 shares in the company, valued at approximately $1,522,591.35. The trade was a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,338 shares of company stock valued at $7,239,630 in the last quarter. Company insiders own 1.51% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Versant Capital Management Inc raised its position in shares of Globe Life by 388.0% during the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after acquiring an additional 194 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in shares of Globe Life during the fourth quarter worth $28,000. Albion Financial Group UT bought a new position in shares of Globe Life in the 4th quarter worth about $28,000. Avalon Trust Co acquired a new position in shares of Globe Life in the 4th quarter valued at about $41,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Globe Life by 32.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $41,000 after buying an additional 90 shares during the last quarter. 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.