Globe Life (NYSE:GL) Price Target Raised to $125.00

Globe Life (NYSE:GL) had its price objective boosted by Keefe, Bruyette & Woods from $120.00 to $125.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an outperform rating on the stock.

GL has been the topic of several other research reports. 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 note on Friday, October 25th. Truist Financial increased their price target on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, October 25th. TD Cowen began coverage on shares of Globe Life in a report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective on the stock. Morgan Stanley increased their price objective on shares of Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company lifted their target price on shares of Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $124.50.

Globe Life Stock Performance

Shares of NYSE GL opened at $105.62 on Tuesday. The stock has a market capitalization of $9.49 billion, a PE ratio of 8.94 and a beta of 0.81. Globe Life has a 52 week low of $38.95 and a 52 week high of $132.00. The stock has a 50 day moving average price of $106.03 and a 200 day moving average price of $91.61. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.05 and a current 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, topping the consensus estimate of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.58%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the firm posted $2.71 earnings per share. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. Analysts predict that Globe Life will post 12.32 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 Friday, November 1st. Stockholders 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 dividend yield of 0.91%. Globe Life’s dividend payout ratio is presently 8.12%.

Institutional Investors Weigh In On Globe Life

A number of large investors have recently added to or reduced their stakes in GL. Wealth Enhancement Advisory Services LLC lifted its position in Globe Life by 10.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,432 shares of the company’s stock worth $1,098,000 after purchasing an additional 875 shares during the period. Centric Wealth Management acquired a new stake in shares of Globe Life during the 1st quarter worth approximately $5,012,000. Janney Montgomery Scott LLC increased its stake in Globe Life by 14.4% in the first quarter. Janney Montgomery Scott LLC now owns 25,535 shares of the company’s stock valued at $2,972,000 after acquiring an additional 3,218 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in Globe Life by 71.7% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,096 shares of the company’s stock valued at $360,000 after purchasing an additional 1,293 shares in the last quarter. Finally, BNP Paribas bought a new stake in Globe Life during the first quarter worth $976,000. 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.