Globe Life (NYSE:GL) Given New $115.00 Price Target at Morgan Stanley

Globe Life (NYSE:GLGet Rating) had its price target increased by Morgan Stanley from $112.00 to $115.00 in a research note issued to investors on Thursday, MarketBeat.com reports. They currently have an underweight rating on the stock.

GL has been the subject of several other research reports. Piper Sandler raised their price objective on shares of Globe Life to $127.00 in a report on Tuesday, November 1st. Raymond James began coverage on Globe Life in a report on Wednesday, September 21st. They set a strong-buy rating and a $138.00 price target for the company. StockNews.com assumed coverage on Globe Life in a research note on Wednesday, October 12th. They issued a hold rating on the stock. Finally, Truist Financial increased their target price on Globe Life from $100.00 to $112.00 and gave the stock a hold rating in a report on Friday, October 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Globe Life currently has a consensus rating of Hold and a consensus target price of $113.38.

Globe Life Trading Up 0.7 %

Shares of Globe Life stock opened at $113.72 on Thursday. Globe Life has a 12-month low of $85.25 and a 12-month high of $116.56. The stock has a market capitalization of $11.06 billion, a P/E ratio of 16.04 and a beta of 0.85. The company has a 50-day simple moving average of $108.28 and a 200 day simple moving average of $101.70. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.37.

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th were paid a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Thursday, October 6th. Globe Life’s dividend payout ratio (DPR) is presently 11.71%.

Insider Activity at Globe Life

In other Globe Life news, insider David Kendall Carlson sold 15,000 shares of Globe Life stock in a transaction on Friday, November 4th. The shares were sold at an average price of $113.06, for a total transaction of $1,695,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Globe Life news, insider Jason A. Harvey sold 2,013 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $103.19, for a total value of $207,721.47. Following the completion of the sale, the insider now owns 460 shares of the company’s stock, valued at $47,467.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Kendall Carlson sold 15,000 shares of Globe Life stock in a transaction on Friday, November 4th. The stock was sold at an average price of $113.06, for a total transaction of $1,695,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 68,211 shares of company stock worth $7,627,528 over the last 90 days. Insiders own 4.62% of the company’s stock.

Institutional Trading of Globe Life

Hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC lifted its holdings in shares of Globe Life by 28.9% in the second quarter. Commonwealth Equity Services LLC now owns 31,712 shares of the company’s stock valued at $3,091,000 after purchasing an additional 7,102 shares in the last quarter. ING Groep NV boosted its position in Globe Life by 15.8% during the 2nd quarter. ING Groep NV now owns 17,070 shares of the company’s stock worth $1,664,000 after acquiring an additional 2,331 shares during the last quarter. Westpac Banking Corp grew its stake in shares of Globe Life by 60,684.5% during the 1st quarter. Westpac Banking Corp now owns 187,824 shares of the company’s stock worth $18,895,000 after acquiring an additional 187,515 shares in the last quarter. FDx Advisors Inc. acquired a new stake in shares of Globe Life in the second quarter valued at approximately $422,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Globe Life by 32.2% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 50,181 shares of the company’s stock worth $5,048,000 after purchasing an additional 12,226 shares in the last quarter. 81.82% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Company Profile

(Get Rating)

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.

Recommended Stories

Analyst Recommendations for Globe Life (NYSE:GL)

Receive News & Ratings for Globe Life Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globe Life and related companies with MarketBeat.com's FREE daily email newsletter.