Globe Life (NYSE:GL) Given New $118.00 Price Target at Piper Sandler

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

GL has been the subject of several other reports. Truist Financial boosted their price target on Globe Life from $80.00 to $90.00 and gave the company a hold rating in a research note on Friday, July 26th. Evercore ISI upped their target price on Globe Life from $83.00 to $86.00 and gave the company an in-line rating in a research report on Wednesday, June 26th. 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 report on Wednesday, July 31st. Morgan Stanley boosted their price target on Globe Life from $66.00 to $83.00 and gave the company an equal weight rating in a research note on Monday, August 19th. Finally, Jefferies Financial Group increased their price objective on shares of Globe Life from $85.00 to $88.00 and gave the stock a hold rating in a research note on Friday, June 28th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Globe Life currently has a consensus rating of Moderate Buy and an average target price of $109.67.

Globe Life Stock Up 1.6 %

GL opened at $106.55 on Wednesday. The stock has a fifty day moving average of $100.24 and a 200-day moving average of $91.56. The company has a market capitalization of $9.59 billion, a P/E ratio of 10.18 and a beta of 0.81. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last issued its quarterly earnings data 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. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.61 EPS. On average, equities analysts expect that Globe Life will post 11.93 EPS for the current year.

Globe Life Announces Dividend

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

Insider Transactions at Globe Life

In related news, Director Mary E. Thigpen acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was acquired at an average price of $90.20 per share, with a total value of $270,600.00. Following the purchase, the director now directly owns 15,605 shares in the company, valued at approximately $1,407,571. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.51% of the company’s stock.

Hedge Funds Weigh In On Globe Life

Large investors have recently bought and sold shares of the company. Keener Financial Planning LLC acquired a new position in Globe Life in the 1st quarter valued at approximately $49,000. Benjamin F. Edwards & Company Inc. grew 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 purchasing an additional 281 shares during the last quarter. LRI Investments LLC increased its holdings in Globe Life by 898.4% in the second quarter. LRI Investments LLC now owns 619 shares of the company’s stock valued at $51,000 after purchasing an additional 557 shares during the period. Family Firm Inc. bought a new position in Globe Life during the 2nd quarter worth $54,000. Finally, Blue Trust Inc. lifted its holdings in Globe Life by 249.5% during the 2nd quarter. Blue Trust Inc. now owns 776 shares of the company’s stock worth $64,000 after buying an additional 554 shares during the period. 81.61% of the stock is currently owned by institutional investors.

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.