Globe Life (NYSE:GL) Given New $136.00 Price Target at JPMorgan Chase & Co.

Globe Life (NYSE:GLFree Report) had its price objective boosted by JPMorgan Chase & Co. from $133.00 to $136.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts also recently commented on the stock. Raymond James upped their price objective on shares of Globe Life from $138.00 to $160.00 and gave the company a strong-buy rating in a research note on Monday, October 23rd. Wells Fargo & Company raised shares of Globe Life from an equal weight rating to an overweight rating and increased their price target for the stock from $122.00 to $137.00 in a research note on Tuesday, October 31st. Finally, Morgan Stanley increased their price target on shares of Globe Life from $131.00 to $132.00 and gave the stock an equal weight rating in a research note on Wednesday, November 15th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $135.67.

View Our Latest Stock Report on GL

Globe Life Stock Performance

NYSE GL opened at $124.95 on Thursday. The company has a 50-day simple moving average of $122.06 and a two-hundred day simple moving average of $116.38. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.39. Globe Life has a 12-month low of $102.23 and a 12-month high of $125.18. The firm has a market cap of $11.76 billion, a price-to-earnings ratio of 12.40 and a beta of 0.70.

Globe Life (NYSE:GLGet Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.15. Globe Life had a net margin of 17.82% and a return on equity of 24.75%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the business posted $2.24 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. On average, equities analysts forecast that Globe Life will post 11.42 EPS for the current year.

Globe Life Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Friday, January 5th were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date was Thursday, January 4th. Globe Life’s payout ratio is 8.93%.

Insider Activity

In related news, CAO Michael Shane Henrie sold 6,800 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $117.57, for a total value of $799,476.00. Following the sale, the chief accounting officer now owns 700 shares in the company, valued at $82,299. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Michael Shane Henrie sold 6,800 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $117.57, for a total value of $799,476.00. Following the sale, the chief accounting officer now owns 700 shares in the company, valued at $82,299. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Jennifer Allison Haworth sold 2,524 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $121.37, for a total transaction of $306,337.88. Following the completion of the sale, the chief marketing officer now owns 8,606 shares in the company, valued at approximately $1,044,510.22. The disclosure for this sale can be found here. Insiders have sold a total of 55,303 shares of company stock worth $6,668,455 over the last 90 days. 4.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Private Trust Co. NA raised its position in shares of Globe Life by 270.0% during the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after purchasing an additional 162 shares during the period. Private Wealth Management Group LLC purchased a new position in shares of Globe Life in the 4th quarter worth $27,000. BKM Wealth Management LLC purchased a new position in shares of Globe Life during the 4th quarter worth about $28,000. Lindbrook Capital LLC boosted its stake in shares of Globe Life by 62.2% during the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after purchasing an additional 92 shares during the period. Finally, Sunbelt Securities Inc. purchased a new position in shares of Globe Life during the 1st quarter worth about $29,000. Hedge funds and other institutional investors own 80.04% of the company’s stock.

About Globe Life

(Get Free Report)

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.

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