Globe Life (NYSE:GL) Given New $125.00 Price Target at Keefe, Bruyette & Woods

Globe Life (NYSE:GL) had its price objective hoisted by Keefe, Bruyette & Woods from $120.00 to $125.00 in a research note released on Tuesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

Several other research analysts have also recently issued reports on GL. TD Cowen assumed coverage on Globe Life in a research report on Wednesday, October 9th. They set a “buy” rating and a $150.00 target price on the stock. Wells Fargo & Company lifted their price objective on shares of Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Morgan Stanley upped their target price on shares of 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 raised their price target on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Truist Financial upped their price objective on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $124.50.

Globe Life Price Performance

GL stock opened at $106.92 on Tuesday. 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’s 50-day moving average is $105.71 and its 200-day moving average is $91.40. The stock has a market capitalization of $9.63 billion, a PE ratio of 10.21 and a beta of 0.81. 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 quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating 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 last 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. Equities research analysts expect that Globe Life will post 11.93 EPS for the current fiscal year.

Globe Life Dividend Announcement

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 dividend of $0.24 per share. The ex-dividend date is Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a yield of 0.90%. Globe Life’s dividend payout ratio is presently 9.17%.

Institutional Trading of Globe Life

Hedge funds and other institutional investors have recently modified their holdings of the business. Riverview Trust Co purchased a new position in Globe Life in the 3rd quarter valued at approximately $32,000. Keener Financial Planning LLC purchased a new position in shares of Globe Life in the first quarter valued at $49,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of 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 purchasing an additional 281 shares during the period. LRI Investments LLC lifted its holdings 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 purchasing an additional 557 shares in the last quarter. Finally, Family Firm Inc. purchased a new position in Globe Life during the 2nd quarter valued at about $54,000. Institutional investors own 81.61% of the company’s stock.

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.