Globe Life (NYSE:GL) Price Target Raised to $105.00 at Truist Financial

Globe Life (NYSE:GL) had its target price upped by Truist Financial from $90.00 to $105.00 in a research note released on Friday morning, Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $118.00 price objective (up from $110.00) on shares of Globe Life in a research report on Wednesday, July 31st. Wells Fargo & Company lifted their price objective on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Jefferies Financial Group boosted their price objective on Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, June 28th. Morgan Stanley lifted their target price on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Piper Sandler increased their price target on Globe Life from $106.00 to $118.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued 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 target price of $123.80.

Globe Life Trading Down 3.9 %

NYSE GL traded down $4.24 on Friday, reaching $105.15. The company had a trading volume of 1,135,956 shares, compared to its average volume of 1,597,292. The firm has a market cap of $9.47 billion, a price-to-earnings ratio of 10.04 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 business has a 50 day moving average of $105.37 and a two-hundred day moving average of $90.88. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the company earned $2.71 earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. Analysts forecast that Globe Life will post 11.93 EPS for the current year.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Friday, October 4th. Globe Life’s payout ratio is presently 9.17%.

Hedge Funds Weigh In On Globe Life

Several large investors have recently added to or reduced their stakes in GL. Riverview Trust Co bought a new position in shares of Globe Life in the third quarter valued at approximately $32,000. Keener Financial Planning LLC purchased a new stake in Globe Life in the 1st quarter valued at $49,000. Benjamin F. Edwards & Company Inc. lifted its stake in Globe Life by 88.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after acquiring an additional 281 shares in the last quarter. LRI Investments LLC grew its stake in shares of Globe Life by 898.4% in the 2nd quarter. LRI Investments LLC now owns 619 shares of the company’s stock worth $51,000 after acquiring an additional 557 shares in the last quarter. Finally, Family Firm Inc. bought a new stake in shares of Globe Life in the 2nd quarter worth $54,000. 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.