Globe Life (NYSE:GL) Price Target Increased to $125.00 by Analysts at Truist Financial

Globe Life (NYSE:GLFree Report) had its price target lifted by Truist Financial from $115.00 to $125.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a hold rating on the stock.

GL has been the subject of a number of other reports. JPMorgan Chase & Co. boosted their target price on shares of Globe Life from $133.00 to $136.00 and gave the company an overweight rating in a report on Thursday. Raymond James boosted their price objective on shares of Globe Life from $138.00 to $160.00 and gave the stock a strong-buy rating in a research note on Monday, October 23rd. StockNews.com upgraded shares of Globe Life from a hold rating to a buy rating in a research note on Thursday. Morgan Stanley boosted their price objective 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. Finally, Wells Fargo & Company upgraded shares of Globe Life from an equal weight rating to an overweight rating and boosted their price objective for the stock from $122.00 to $137.00 in a research note on Tuesday, October 31st. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $134.14.

Get Our Latest Stock Analysis on Globe Life

Globe Life Stock Performance

Shares of GL opened at $125.94 on Friday. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.39. The stock has a market cap of $11.85 billion, a P/E ratio of 12.49 and a beta of 0.70. The company has a 50-day moving average of $122.11 and a two-hundred day moving average of $116.46. Globe Life has a 12-month low of $102.23 and a 12-month high of $125.98.

Globe Life (NYSE:GLGet Free Report) last announced its earnings results on Wednesday, February 7th. The company reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.15. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Globe Life had a net margin of 17.82% and a return on equity of 24.75%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.24 earnings per share. As a group, research analysts predict that Globe Life will post 11.45 EPS for the current fiscal year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Friday, January 5th were issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 0.71%. The ex-dividend date was Thursday, January 4th. Globe Life’s dividend payout ratio is currently 8.93%.

Insider Transactions at Globe Life

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

Institutional Trading of Globe Life

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Globe Life by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock valued at $1,183,175,000 after buying an additional 181,824 shares during the period. Wellington Management Group LLP increased its stake in Globe Life by 37.0% during the 1st quarter. Wellington Management Group LLP now owns 7,308,014 shares of the company’s stock valued at $735,187,000 after buying an additional 1,973,186 shares during the period. BlackRock Inc. increased its stake in Globe Life by 0.9% during the 1st quarter. BlackRock Inc. now owns 6,520,494 shares of the company’s stock valued at $655,963,000 after buying an additional 57,587 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Globe Life by 4.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,247,993 shares of the company’s stock worth $461,884,000 after purchasing an additional 168,127 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Globe Life by 2.2% in the 2nd quarter. State Street Corp now owns 3,960,623 shares of the company’s stock worth $434,163,000 after purchasing an additional 84,122 shares during the last quarter. 80.04% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Globe Life (NYSE:GL)

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