Globe Life (NYSE:GL) Upgraded by Evercore ISI to “Outperform” Rating

Evercore ISI upgraded shares of Globe Life (NYSE:GL) from an in-line rating to an outperform rating in a research report released on Wednesday morning, MarketBeat Ratings reports. They currently have $143.00 target price on the stock, up from their prior target price of $132.00.

Other equities research analysts also recently issued research reports about the stock. Raymond James upped their target price on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 15th. Truist Financial boosted their price target on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. TD Cowen assumed coverage on Globe Life in a report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective for the company. Keefe, Bruyette & Woods boosted their target price on shares of Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Finally, Wells Fargo & Company increased their price target 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. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $132.80.

Globe Life Price Performance

Shares of GL stock opened at $114.19 on Wednesday. The firm’s 50 day moving average price is $108.72 and its two-hundred day moving average price is $101.68. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life has a 52-week low of $38.95 and a 52-week high of $132.00. The stock has a market cap of $9.59 billion, a PE ratio of 9.66 and a beta of 0.80.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the firm earned $2.71 earnings per share. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, analysts forecast that Globe Life will post 12.31 EPS for the current year.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.84%. The ex-dividend date is Monday, January 6th. Globe Life’s payout ratio is presently 8.12%.

Insider Transactions at Globe Life

In other news, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the transaction, the director now owns 5,122 shares in the company, valued at approximately $579,964.06. The trade was a 36.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frank M. Svoboda sold 13,448 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $112.56, for a total value of $1,513,706.88. Following the completion of the transaction, the chief executive officer now directly owns 18,948 shares in the company, valued at $2,132,786.88. This represents a 41.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,788 shares of company stock valued at $4,429,779. Corporate insiders own 1.51% of the company’s stock.

Hedge Funds Weigh In On Globe Life

Institutional investors have recently added to or reduced their stakes in the business. Diversified Trust Co bought a new position in Globe Life in the fourth quarter worth approximately $356,000. Pensionfund Sabic raised its position in shares of Globe Life by 20.4% during the fourth quarter. Pensionfund Sabic now owns 11,800 shares of the company’s stock worth $1,316,000 after purchasing an additional 2,000 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Globe Life by 15.3% in the 4th quarter. GAMMA Investing LLC now owns 4,995 shares of the company’s stock worth $557,000 after purchasing an additional 662 shares in the last quarter. Versant Capital Management Inc grew its position in Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after purchasing an additional 194 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Globe Life by 9.0% during the 3rd quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock valued at $11,154,000 after purchasing an additional 8,663 shares in the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

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.