Globe Life (NYSE:GL) Price Target Raised to $120.00

Globe Life (NYSE:GL) had its price target raised by Morgan Stanley from $110.00 to $120.00 in a report published on Thursday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

GL has been the subject of several other research reports. Jefferies Financial Group raised their target price on Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, June 28th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $118.00 target price (up previously from $110.00) on shares of Globe Life in a report on Wednesday, July 31st. Raymond James raised their price target on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 15th. Wells Fargo & Company upped their price objective on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Piper Sandler increased their target price on shares of Globe Life from $106.00 to $118.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $123.80.

Globe Life Stock Down 3.9 %

GL stock opened at $105.15 on Thursday. Globe Life has a 12 month low of $38.95 and a 12 month high of $132.00. The firm has a market cap of $9.47 billion, a PE ratio of 10.04 and a beta of 0.81. The firm has a 50 day simple moving average of $105.37 and a 200 day simple moving average of $90.77. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.06 by $0.43. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the company earned $2.71 earnings per share. The firm’s revenue was up 5.1% on a year-over-year basis. Equities research analysts forecast that Globe Life will post 11.93 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, October 4th. This represents a $0.96 annualized dividend and a yield of 0.91%. Globe Life’s dividend payout ratio (DPR) is currently 9.17%.

Institutional Investors Weigh In On Globe Life

A number of large investors have recently added to or reduced their stakes in the stock. Riverview Trust Co acquired a new stake in shares of Globe Life in the third quarter worth $32,000. Keener Financial Planning LLC acquired a new stake in shares of Globe Life in the first quarter valued at about $49,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Globe Life by 88.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after purchasing an additional 281 shares during the period. LRI Investments LLC lifted its position in shares of 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 during the last quarter. Finally, Family Firm Inc. bought a new stake in Globe Life during the 2nd quarter valued at approximately $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.