Truist Financial Raises Globe Life (NYSE:GL) Price Target to $90.00

Globe Life (NYSE:GL) had its price objective boosted by Truist Financial from $80.00 to $90.00 in a report published on Friday morning, Benzinga reports. The firm currently has a hold rating on the stock.

A number of other research analysts have also recently commented on GL. Wells Fargo & Company upped their price target on Globe Life from $105.00 to $108.00 and gave the stock an overweight rating in a research note on Friday. Piper Sandler reduced their price objective on Globe Life from $110.00 to $105.00 and set an overweight rating on the stock in a research note on Friday, June 28th. Raymond James reiterated a strong-buy rating on shares of Globe Life in a research note on Tuesday, May 21st. Evercore ISI increased their price objective on Globe Life from $83.00 to $86.00 and gave the company an in-line rating in a research note on Wednesday, June 26th. Finally, StockNews.com cut Globe Life from a buy rating to a hold rating in a research note on Saturday, April 20th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $105.44.

Globe Life Price Performance

GL stock opened at $92.03 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.05 and a quick ratio of 0.05. The business has a 50 day simple moving average of $83.71 and a 200-day simple moving average of $98.92. The firm has a market capitalization of $8.29 billion, a PE ratio of 8.79 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, July 24th. The company reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a return on equity of 22.53% and a net margin of 18.47%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the prior year, the firm posted $2.61 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. Equities research analysts anticipate that Globe Life will post 11.92 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

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

Insider Transactions at Globe Life

In other Globe Life news, CEO James Matthew Darden bought 2,000 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was acquired at an average price of $84.82 per share, for a total transaction of $169,640.00. Following the completion of the purchase, the chief executive officer now owns 37,973 shares of the company’s stock, valued at $3,220,869.86. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Thomas Peter Kalmbach acquired 500 shares of Globe Life stock in a transaction that occurred on Friday, May 17th. The stock was purchased at an average price of $84.43 per share, for a total transaction of $42,215.00. Following the completion of the transaction, the chief financial officer now directly owns 18,080 shares in the company, valued at $1,526,494.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Matthew Darden acquired 2,000 shares of Globe Life stock in a transaction that occurred on Thursday, May 16th. The stock was purchased at an average price of $84.82 per share, with a total value of $169,640.00. Following the transaction, the chief executive officer now owns 37,973 shares of the company’s stock, valued at $3,220,869.86. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 8,000 shares of company stock worth $687,880. Company insiders own 1.51% of the company’s stock.

Institutional Investors Weigh In On Globe Life

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. HB Wealth Management LLC purchased a new position in shares of Globe Life during the 4th quarter worth approximately $217,000. Raymond James & Associates increased its stake in shares of Globe Life by 33.6% during the 4th quarter. Raymond James & Associates now owns 233,917 shares of the company’s stock worth $28,472,000 after purchasing an additional 58,806 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Globe Life by 43.5% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 74,254 shares of the company’s stock worth $9,038,000 after purchasing an additional 22,509 shares in the last quarter. Pacer Advisors Inc. increased its stake 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 purchasing an additional 27,908 shares in the last quarter. Finally, Welch Group LLC increased its stake in shares of Globe Life by 1.9% during the 4th quarter. Welch Group LLC now owns 46,514 shares of the company’s stock worth $5,662,000 after purchasing an additional 849 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

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.