Globe Life (NYSE:GL) Price Target Raised to $130.00

Globe Life (NYSE:GL) had its target price hoisted by Piper Sandler from $118.00 to $130.00 in a research note issued to investors on Friday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other research firms have also recently issued reports on GL. Keefe, Bruyette & Woods reaffirmed 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 target on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Raymond James increased their price objective on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th. Truist Financial boosted their target price on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday. Finally, Jefferies Financial Group increased their price target on shares of Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, June 28th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $123.80.

Globe Life Price Performance

Shares of NYSE GL opened at $105.15 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05. The company has a market cap of $9.47 billion, a price-to-earnings ratio of 10.04 and a beta of 0.81. The stock’s 50-day moving average is $105.37 and its two-hundred day moving average is $90.67. Globe Life has a 1-year low of $38.95 and a 1-year high of $132.00.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the firm earned $2.71 earnings per share. The business’s quarterly 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 fiscal year.

Globe Life Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Riverview Trust Co purchased a new position in shares of Globe Life in the 3rd quarter valued at approximately $32,000. Keener Financial Planning LLC purchased a new position in Globe Life in the 1st quarter valued at $49,000. Benjamin F. Edwards & Company Inc. increased its stake in Globe Life by 88.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after buying an additional 281 shares during the period. LRI Investments LLC raised its position in Globe Life by 898.4% during the 2nd quarter. LRI Investments LLC now owns 619 shares of the company’s stock worth $51,000 after buying an additional 557 shares during the last quarter. Finally, Family Firm Inc. acquired a new stake in shares of Globe Life in the 2nd quarter worth $54,000. 81.61% of the stock is owned by hedge funds and other 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.