Raymond James Boosts Globe Life (NYSE:GL) Price Target to $188.00

Globe Life (NYSE:GL) had its target price increased by Raymond James from $160.00 to $188.00 in a research note published on Tuesday, Benzinga reports. Raymond James currently has a strong-buy rating on the stock.

Other research analysts have also issued research reports about the company. TD Cowen started coverage on Globe Life in a research report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price objective for the company. Morgan Stanley upped their price target on shares of Globe Life from $66.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Piper Sandler lifted their price objective on shares of Globe Life from $106.00 to $118.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company lifted their price target on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Evercore ISI lifted 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. Five investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $117.40.

Globe Life Stock Down 1.6 %

Shares of NYSE:GL opened at $109.05 on Tuesday. The company’s fifty day moving average is $103.52 and its two-hundred day moving average is $90.93. 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 has a 1-year low of $38.95 and a 1-year high of $132.00. The stock has a market capitalization of $9.82 billion, a price-to-earnings ratio of 10.42 and a beta of 0.81.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.07. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the business earned $2.61 earnings per share. Globe Life’s quarterly revenue was up 8.6% on a year-over-year basis. Equities analysts anticipate that Globe Life will post 11.93 EPS for the current year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Friday, October 4th. Globe Life’s dividend payout ratio is presently 9.17%.

Insider Activity

In other news, Director Mary E. Thigpen bought 3,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average cost of $90.20 per share, with a total value of $270,600.00. Following the completion of the acquisition, the director now directly owns 15,605 shares in the company, valued at approximately $1,407,571. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.51% of the company’s stock.

Hedge Funds Weigh In On Globe Life

Several large investors have recently made changes to their positions in the business. Keener Financial Planning LLC bought a new stake in shares of Globe Life in the 1st quarter worth approximately $49,000. Benjamin F. Edwards & Company Inc. grew its position in 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 buying an additional 281 shares during the last quarter. LRI Investments LLC increased its holdings in shares of Globe Life by 898.4% in the second quarter. LRI Investments LLC now owns 619 shares of the company’s stock valued at $51,000 after buying an additional 557 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of Globe Life during the 2nd quarter valued at $54,000. Finally, Blue Trust Inc. boosted its stake in shares of Globe Life by 249.5% during the 2nd quarter. Blue Trust Inc. now owns 776 shares of the company’s stock worth $64,000 after acquiring an additional 554 shares in the last quarter. 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.