Globe Life (NYSE:GL) Price Target Cut to $105.00

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

Several other analysts have also weighed in on the stock. Keefe, Bruyette & Woods raised shares of Globe Life from a market perform rating to an outperform rating and dropped their price objective for the stock from $130.00 to $110.00 in a report on Wednesday, April 24th. StockNews.com lowered Globe Life from a buy rating to a hold rating in a research note on Saturday, April 20th. Evercore ISI raised their target price 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. Raymond James reiterated a strong-buy rating on shares of Globe Life in a research report on Tuesday, May 21st. Finally, Wells Fargo & Company lowered their price objective on shares of Globe Life from $132.00 to $108.00 and set an overweight rating for the company in a research report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $111.67.

Globe Life Stock Up 0.6 %

NYSE GL opened at $82.78 on Friday. Globe Life has a 1-year low of $38.95 and a 1-year high of $132.00. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.32. The stock’s 50 day moving average is $82.05 and its two-hundred day moving average is $103.89. The company has a market capitalization of $7.64 billion, a price-to-earnings ratio of 7.91 and a beta of 0.81.

Globe Life (NYSE:GL) last announced 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). The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.01%. Globe Life’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.53 EPS. Equities analysts forecast that Globe Life will post 11.72 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Friday, July 5th. Globe Life’s payout ratio is 9.17%.

Insider Buying and Selling

In other Globe Life news, CFO Thomas Peter Kalmbach bought 500 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was purchased at an average cost of $84.43 per share, with a total value of $42,215.00. Following the completion of the purchase, the chief financial officer now owns 18,080 shares in the company, valued at $1,526,494.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Robert Edward Hensley bought 2,500 shares of the stock in a transaction on Tuesday, May 28th. The stock was purchased at an average price of $82.17 per share, for a total transaction of $205,425.00. Following the acquisition, the executive vice president now owns 7,290 shares in the company, valued at $599,019.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Thomas Peter Kalmbach purchased 500 shares of the business’s stock in a transaction dated 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 acquisition, the chief financial officer now owns 18,080 shares of the company’s stock, valued at $1,526,494.40. The disclosure for this purchase can be found here. Insiders purchased a total of 6,500 shares of company stock valued at $536,860 over the last three months. Company insiders own 1.51% of the company’s stock.

Institutional Investors Weigh In On Globe Life

Several institutional investors have recently bought and sold shares of GL. Private Trust Co. NA grew its holdings in shares of Globe Life by 270.0% in the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after acquiring an additional 162 shares in the last quarter. Private Wealth Management Group LLC bought a new position in shares of Globe Life in the 4th quarter valued at about $27,000. BKM Wealth Management LLC bought a new stake in shares of Globe Life in the 4th quarter valued at about $28,000. Lindbrook Capital LLC lifted its stake in Globe Life by 62.2% in the 4th 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 last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in Globe Life by 177.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock worth $34,000 after purchasing an additional 177 shares during the period. 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.