Globe Life (NYSE:GL) Price Target Increased to $130.00 by Analysts at Piper Sandler

Globe Life (NYSE:GL) had its price objective upped by Piper Sandler from $118.00 to $130.00 in a report issued on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also issued reports on GL. Raymond James increased their target price on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 15th. Truist Financial raised their price objective on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Friday. TD Cowen started coverage on shares of Globe Life in a report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price for the company. Wells Fargo & Company increased their price target on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley boosted their price objective on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $123.80.

Globe Life Stock Performance

Shares of GL traded down $4.24 on Friday, reaching $105.15. The company’s stock had a trading volume of 1,135,956 shares, compared to its average volume of 1,597,292. The stock’s 50 day simple moving average is $105.37 and its two-hundred day simple moving average is $90.88. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a market capitalization of $9.47 billion, a P/E ratio of 10.04 and a beta of 0.81. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.06 by $0.43. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the business posted $2.71 EPS. Globe Life’s revenue was up 5.1% on a year-over-year basis. Research analysts forecast that Globe Life will post 11.93 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Friday, October 4th. Globe Life’s dividend payout ratio is presently 9.17%.

Institutional Investors Weigh In On Globe Life

A number of hedge funds have recently bought and sold shares of the business. UMB Bank n.a. increased its holdings in shares of Globe Life by 7.7% in the 3rd quarter. UMB Bank n.a. now owns 1,357 shares of the company’s stock worth $144,000 after buying an additional 97 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Globe Life by 0.5% during the first quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock worth $4,082,000 after acquiring an additional 167 shares during the last quarter. Perigon Wealth Management LLC raised its position in Globe Life by 7.6% during the first quarter. Perigon Wealth Management LLC now owns 2,619 shares of the company’s stock valued at $305,000 after purchasing an additional 184 shares during the period. Ballentine Partners LLC lifted its stake in shares of Globe Life by 7.7% in the 3rd quarter. Ballentine Partners LLC now owns 2,682 shares of the company’s stock valued at $284,000 after purchasing an additional 191 shares during the last quarter. Finally, Bruce G. Allen Investments LLC boosted its holdings in shares of Globe Life by 33.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 806 shares of the company’s stock worth $66,000 after purchasing an additional 201 shares during the period. Hedge funds and other 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.