Keefe, Bruyette & Woods Raises Globe Life (NYSE:GL) Price Target to $137.00

Globe Life (NYSE:GL) had its target price upped by Keefe, Bruyette & Woods from $135.00 to $137.00 in a report issued on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms also recently issued reports on GL. Wells Fargo & Company increased their price objective on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Piper Sandler lifted their price target on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Morgan Stanley upped their price objective on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Raymond James lifted their target price on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and increased their price target for the company from $132.00 to $143.00 in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.00.

Globe Life Trading Down 1.4 %

GL opened at $112.51 on Friday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock’s fifty day moving average is $108.89 and its two-hundred day moving average is $101.76. The company has a market capitalization of $9.44 billion, a P/E ratio of 9.52 and a beta of 0.80. Globe Life has a 52 week low of $38.95 and a 52 week high of $132.00.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.06 by $0.43. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm posted $2.71 earnings per share. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts forecast that Globe Life will post 12.31 earnings per share for the current year.

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Monday, January 6th. Globe Life’s dividend payout ratio (DPR) is presently 8.12%.

Insider Buying and Selling at Globe Life

In related news, Director Mark A. Blinn sold 3,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the transaction, the director now owns 5,122 shares of the company’s stock, valued at $579,964.06. This trade represents a 36.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Frank M. Svoboda sold 14,340 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the completion of the sale, the chief executive officer now owns 16,396 shares in the company, valued at $1,783,884.80. The trade was a 46.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,788 shares of company stock worth $4,429,779. 1.51% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Globe Life by 0.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,923 shares of the company’s stock valued at $2,110,000 after purchasing an additional 144 shares during the period. Diversified Trust Co purchased a new position in Globe Life in the fourth quarter valued at $356,000. Pensionfund Sabic raised its position in shares of Globe Life by 20.4% in the fourth quarter. Pensionfund Sabic now owns 11,800 shares of the company’s stock worth $1,316,000 after acquiring an additional 2,000 shares during the period. GAMMA Investing LLC boosted its stake in shares of Globe Life by 15.3% during the 4th quarter. GAMMA Investing LLC now owns 4,995 shares of the company’s stock worth $557,000 after acquiring an additional 662 shares in the last quarter. Finally, Versant Capital Management Inc grew 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 during the period. 81.61% of the stock is owned by institutional investors and hedge funds.

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.