Globe Life (NYSE:GL) PT Raised to $90.00

Globe Life (NYSE:GL) had its price objective lifted by Truist Financial from $80.00 to $90.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a hold rating on the stock.

Other equities analysts have also issued reports about the stock. StockNews.com lowered shares of Globe Life from a buy rating to a hold rating in a research report on Saturday, April 20th. Raymond James reaffirmed a strong-buy rating on shares of Globe Life in a research note on Tuesday, May 21st. Morgan Stanley boosted their target price on shares of Globe Life from $62.00 to $65.00 and gave the stock an equal weight rating in a research note on Wednesday, July 10th. Jefferies Financial Group boosted their target price 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. Finally, Keefe, Bruyette & Woods raised shares of Globe Life from a market perform rating to an outperform rating and dropped their target price for the stock from $130.00 to $110.00 in a research note on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $105.44.

Globe Life Price Performance

Shares of Globe Life stock opened at $92.03 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.05 and a current ratio of 0.05. The firm’s 50-day simple moving average is $83.71 and its 200-day simple moving average is $98.92. Globe Life has a twelve month low of $38.95 and a twelve month high of $132.00. The firm has a market cap of $8.29 billion, a P/E ratio of 8.79 and a beta of 0.81.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. Globe Life had a net margin of 18.47% and a return on equity of 22.53%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.61 earnings per share. As a group, research analysts expect that Globe Life will post 11.92 EPS for the current fiscal year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, July 5th. Globe Life’s dividend payout ratio (DPR) is 9.17%.

Insider Buying and Selling

In other Globe Life news, CFO Thomas Peter Kalmbach purchased 500 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was acquired at an average cost of $84.43 per share, with a total value of $42,215.00. Following the completion of the purchase, the chief financial officer now directly owns 18,080 shares in the company, valued at approximately $1,526,494.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Mary E. Thigpen acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the completion of the acquisition, the director now owns 15,605 shares in the company, valued at $1,407,571. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas Peter Kalmbach acquired 500 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were purchased at an average price of $84.43 per share, with a total value of $42,215.00. Following the acquisition, the chief financial officer now owns 18,080 shares of the company’s stock, valued at approximately $1,526,494.40. The disclosure for this purchase can be found here. Insiders acquired a total of 8,000 shares of company stock valued at $687,880 over the last ninety days. Insiders own 1.51% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Globe Life by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock worth $1,309,755,000 after acquiring an additional 425,993 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Globe Life by 7.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,607 shares of the company’s stock valued at $11,824,000 after purchasing an additional 7,100 shares during the last quarter. Retirement Systems of Alabama acquired a new stake in shares of Globe Life during the 4th quarter worth about $2,297,000. Quadrature Capital Ltd boosted its holdings in shares of Globe Life by 69.2% during the 4th quarter. Quadrature Capital Ltd now owns 38,785 shares of the company’s stock worth $4,724,000 after buying an additional 15,862 shares during the period. Finally, Pacer Advisors Inc. boosted its holdings in shares of Globe Life by 488.6% during the 4th quarter. Pacer Advisors Inc. now owns 33,620 shares of the company’s stock worth $4,092,000 after buying an additional 27,908 shares during the period. Institutional investors and hedge funds 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.