Morgan Stanley Issues Positive Forecast for Globe Life (NYSE:GL) Stock Price

Globe Life (NYSE:GL) had its target price raised by Morgan Stanley from $123.00 to $125.00 in a report released on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities research analysts have also issued research reports about the company. Raymond James upped 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. Piper Sandler upped their price objective on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. BMO Capital Markets assumed coverage on Globe Life in a research report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price objective for the company. Keefe, Bruyette & Woods upped their target price on shares of Globe Life from $135.00 to $137.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Finally, Truist Financial raised their price target on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $132.30.

Globe Life Trading Down 0.8 %

Shares of GL stock opened at $121.31 on Tuesday. The stock has a market cap of $10.18 billion, a P/E ratio of 10.15 and a beta of 0.81. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The business has a fifty day simple moving average of $113.67 and a 200-day simple moving average of $107.57.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, beating the consensus estimate of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. On average, analysts forecast that Globe Life will post 13.57 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were issued a $0.24 dividend. The ex-dividend date was Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.79%. Globe Life’s payout ratio is 8.03%.

Insiders Place Their Bets

In other news, CEO Frank M. Svoboda sold 13,448 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $112.56, for a total value of $1,513,706.88. Following the transaction, the chief executive officer now directly owns 18,948 shares in the company, valued at $2,132,786.88. This trade represents a 41.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $113.23, for a total value of $339,690.00. Following the sale, the director now owns 5,122 shares of the company’s stock, valued at $579,964.06. The trade was a 36.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,788 shares of company stock valued at $4,429,779 over the last quarter. Company insiders own 1.51% of the company’s stock.

Hedge Funds Weigh In On Globe Life

A number of hedge funds have recently made changes to their positions in the business. Prudential Financial Inc. increased its holdings in Globe Life by 50.0% in the 4th quarter. Prudential Financial Inc. now owns 82,749 shares of the company’s stock valued at $9,069,000 after purchasing an additional 27,590 shares in the last quarter. Congress Wealth Management LLC DE acquired a new stake in shares of Globe Life in the fourth quarter valued at about $392,000. LPL Financial LLC raised its holdings in shares of Globe Life by 6.9% during the 4th quarter. LPL Financial LLC now owns 291,234 shares of the company’s stock valued at $32,478,000 after buying an additional 18,799 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Globe Life during the 4th quarter worth approximately $2,565,000. Finally, Hillsdale Investment Management Inc. purchased a new position in Globe Life in the 4th quarter worth approximately $820,000. Hedge funds and other 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.