Globe Life (NYSE:GL) Price Target Lowered to $110.00 at Piper Sandler

Globe Life (NYSE:GL) had its price objective cut by Piper Sandler from $130.00 to $110.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts have also recently issued reports on GL. Evercore ISI decreased their target price on Globe Life from $125.00 to $75.00 and set an in-line rating for the company in a report on Friday, April 12th. JPMorgan Chase & Co. upped their price target on Globe Life from $133.00 to $136.00 and gave the stock an overweight rating in a report on Thursday, February 8th. Wells Fargo & Company decreased their price target on Globe Life from $132.00 to $108.00 and set an overweight rating for the company in a report on Wednesday. Keefe, Bruyette & Woods upgraded Globe Life from a market perform rating to an outperform rating and decreased their price target for the stock from $130.00 to $110.00 in a report on Wednesday. Finally, Truist Financial decreased their price target on Globe Life from $125.00 to $80.00 and set a hold rating for the company in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $114.33.

Globe Life Stock Up 0.3 %

Shares of NYSE:GL opened at $75.75 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life has a 1 year low of $38.95 and a 1 year high of $132.00. The stock has a market capitalization of $7.12 billion, a P/E ratio of 7.23 and a beta of 0.69. The stock has a 50-day simple moving average of $106.65 and a 200-day simple moving average of $115.30.

Globe Life (NYSE:GL) last issued its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the firm posted $2.53 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts forecast that Globe Life will post 11.73 earnings per share for the current year.

Globe Life Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.27%. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, April 4th. Globe Life’s dividend payout ratio is presently 9.17%.

Insider Buying and Selling at Globe Life

In other Globe Life news, EVP Rebecca E. Zorn sold 2,320 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the transaction, the executive vice president now directly owns 10,220 shares of the company’s stock, valued at approximately $790,006. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Globe Life news, Director David A. Rodriguez acquired 1,500 shares of Globe Life stock in a transaction that occurred on Wednesday, April 24th. The stock was purchased at an average cost of $79.72 per share, with a total value of $119,580.00. Following the purchase, the director now owns 4,192 shares in the company, valued at $334,186.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Rebecca E. Zorn sold 2,320 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the completion of the sale, the executive vice president now directly owns 10,220 shares of the company’s stock, valued at $790,006. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Globe Life

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Lindbrook Capital LLC raised its stake in shares of Globe Life by 62.2% during the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after purchasing an additional 92 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Globe Life by 4.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,111 shares of the company’s stock worth $230,000 after purchasing an additional 99 shares in the last quarter. Stonegate Investment Group LLC raised its stake in shares of Globe Life by 0.3% during the 4th quarter. Stonegate Investment Group LLC now owns 34,123 shares of the company’s stock worth $4,153,000 after purchasing an additional 116 shares in the last quarter. Brown Advisory Inc. raised its stake in shares of Globe Life by 3.0% during the 3rd quarter. Brown Advisory Inc. now owns 4,127 shares of the company’s stock worth $449,000 after purchasing an additional 121 shares in the last quarter. Finally, Tectonic Advisors LLC raised its stake in shares of Globe Life by 5.3% during the 4th quarter. Tectonic Advisors LLC now owns 2,960 shares of the company’s stock worth $360,000 after purchasing an additional 150 shares in the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

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.