Globe Life (NYSE:GL) PT Lowered to $105.00

Globe Life (NYSE:GL) had its price target lowered by Piper Sandler from $110.00 to $105.00 in a research report report published on Friday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other equities research analysts have also issued research reports about the company. Keefe, Bruyette & Woods raised Globe Life from a market perform rating to an outperform rating and reduced their price target for the company from $130.00 to $110.00 in a research report on Wednesday, April 24th. Truist Financial lowered their price target on shares of Globe Life from $125.00 to $80.00 and set a hold rating for the company in a report on Wednesday, April 24th. Raymond James reissued a strong-buy rating on shares of Globe Life in a research report on Tuesday, May 21st. Evercore ISI boosted their target price on shares of Globe Life from $83.00 to $86.00 and gave the stock an in-line rating in a research note on Wednesday, June 26th. Finally, StockNews.com lowered Globe Life from a buy rating to a hold rating in a report on Saturday, April 20th. Five 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 MarketBeat, Globe Life has a consensus rating of Moderate Buy and an average price target of $111.67.

Globe Life Price Performance

Globe Life stock opened at $82.28 on Friday. Globe Life has a 1 year low of $38.95 and a 1 year high of $132.00. The company’s 50 day simple moving average is $81.72 and its 200-day simple moving average is $104.17. The company has a market capitalization of $7.59 billion, a price-to-earnings ratio of 7.86 and a beta of 0.81. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). Globe Life had a return on equity of 23.01% and a net margin of 18.07%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the firm earned $2.53 EPS. The business’s revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts expect that Globe Life will post 11.72 earnings per share for the current year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Friday, July 5th. Globe Life’s payout ratio is currently 9.17%.

Insider Buying and Selling

In other news, EVP Robert Edward Hensley acquired 2,500 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was acquired at an average cost of $82.17 per share, with a total value of $205,425.00. Following the completion of the acquisition, the executive vice president now owns 7,290 shares of the company’s stock, valued at $599,019.30. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other Globe Life news, EVP Robert Edward Hensley bought 2,500 shares of Globe Life stock in a transaction dated Tuesday, May 28th. The stock was acquired at an average cost of $82.17 per share, with a total value of $205,425.00. Following the completion of the acquisition, the executive vice president now owns 7,290 shares of the company’s stock, valued at $599,019.30. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Thomas Peter Kalmbach bought 500 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were acquired at an average price of $84.43 per share, with a total value of $42,215.00. Following the purchase, the chief financial officer now directly 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 have bought 6,500 shares of company stock worth $536,860 in the last quarter. 1.51% of the stock is owned by insiders.

Institutional Investors Weigh In On Globe Life

Several large investors have recently modified their holdings of GL. Private Trust Co. NA raised its position in Globe Life by 270.0% during the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after buying an additional 162 shares during the last quarter. Private Wealth Management Group LLC purchased a new position in Globe Life during the fourth quarter worth about $27,000. BKM Wealth Management LLC purchased a new position in Globe Life during the fourth quarter worth about $28,000. Lindbrook Capital LLC lifted its position in Globe Life by 62.2% in the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after purchasing an additional 92 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Globe Life by 177.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock valued at $34,000 after purchasing an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

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.