Globe Life (NYSE:GL) Given New $88.00 Price Target at Jefferies Financial Group

Globe Life (NYSE:GL) had its price objective increased by Jefferies Financial Group from $85.00 to $88.00 in a research note released on Friday morning, Benzinga reports. They currently have a hold rating on the stock.

GL has been the topic of several other reports. Truist Financial reduced their price objective on Globe Life from $125.00 to $80.00 and set a hold rating on the stock in a research note on Wednesday, April 24th. Raymond James reaffirmed a strong-buy rating on shares of Globe Life in a research report on Tuesday, May 21st. Piper Sandler cut their target price on shares of Globe Life from $110.00 to $105.00 and set an overweight rating on the stock in a report on Friday. StockNews.com downgraded Globe Life from a buy rating to a hold rating in a research note on Saturday, April 20th. Finally, Wells Fargo & Company cut their price target on Globe Life from $132.00 to $108.00 and set an overweight rating on the stock in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Globe Life presently has a consensus rating of Moderate Buy and an average price target of $111.67.

Globe Life Price Performance

Shares of GL stock opened at $82.20 on Friday. The firm has a fifty day moving average of $81.72 and a two-hundred day moving average of $104.45. The firm has a market cap of $7.58 billion, a P/E ratio of 7.85 and a beta of 0.81. Globe Life has a 1-year low of $38.95 and a 1-year high of $132.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Globe Life had a return on equity of 23.01% and a net margin of 18.07%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the business posted $2.53 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, research analysts anticipate that Globe Life will post 11.72 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be paid a $0.24 dividend. The ex-dividend date is Friday, July 5th. This represents a $0.96 annualized dividend and a dividend yield of 1.17%. Globe Life’s payout ratio is 9.17%.

Insider Buying and Selling

In other news, EVP Robert Edward Hensley bought 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were purchased at an average price of $82.17 per share, with a total value of $205,425.00. Following the completion of the acquisition, the executive vice president now directly owns 7,290 shares in the company, valued at $599,019.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Globe Life news, CEO James Matthew Darden acquired 2,000 shares of Globe Life stock in a transaction dated Thursday, May 16th. The stock was bought at an average price of $84.82 per share, for a total transaction of $169,640.00. Following the transaction, the chief executive officer now owns 37,973 shares in the company, valued at approximately $3,220,869.86. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Robert Edward Hensley bought 2,500 shares of Globe Life stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average price of $82.17 per share, with a total value of $205,425.00. Following the completion of the acquisition, the executive vice president now directly owns 7,290 shares of the company’s stock, valued at approximately $599,019.30. The disclosure for this purchase can be found here. Insiders purchased 6,500 shares of company stock valued at $536,860 over the last 90 days. 1.51% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Globe Life

Institutional investors and hedge funds have recently modified their holdings of the stock. Private Trust Co. NA lifted its holdings in shares of Globe Life by 270.0% during the fourth 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 last quarter. Private Wealth Management Group LLC purchased a new stake in Globe Life during the fourth quarter valued at about $27,000. BKM Wealth Management LLC acquired a new position in shares of Globe Life in the fourth quarter worth about $28,000. Lindbrook Capital LLC increased its position in shares of Globe Life by 62.2% in the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after acquiring an additional 92 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Globe Life by 177.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock valued at $34,000 after acquiring an additional 177 shares during the period. Institutional investors and hedge funds 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.