Globe Life (NYSE:GL) Price Target Raised to $145.00

Globe Life (NYSE:GL) had its price target raised by JPMorgan Chase & Co. from $136.00 to $145.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts have also issued research reports about the stock. BMO Capital Markets initiated coverage on shares of Globe Life in a research note on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price objective on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. Morgan Stanley lifted their target price on Globe Life from $125.00 to $126.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Finally, Jefferies Financial Group increased their price target on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Globe Life has a consensus rating of “Moderate Buy” and a consensus price target of $138.45.

Globe Life Trading Down 8.0 %

Shares of NYSE GL opened at $117.30 on Wednesday. Globe Life has a 1-year low of $38.95 and a 1-year high of $133.76. The company has a 50-day moving average of $124.89 and a two-hundred day moving average of $114.70. The company has a market cap of $9.76 billion, a PE ratio of 9.82 and a beta of 0.60. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. As a group, equities analysts expect that Globe Life will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 0.92%. This is an increase from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s payout ratio is 9.04%.

Insider Activity at Globe Life

In other news, CEO Frank M. Svoboda sold 13,448 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $112.56, for a total value of $1,513,706.88. Following the sale, the chief executive officer now owns 18,948 shares of the company’s stock, valued at $2,132,786.88. The trade was a 41.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James Matthew Darden sold 24,890 shares of Globe Life stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total value of $3,024,632.80. Following the completion of the transaction, the chief executive officer now owns 38,973 shares of the company’s stock, valued at approximately $4,735,998.96. This trade represents a 38.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,338 shares of company stock valued at $7,239,630. 1.51% of the stock is owned by insiders.

Institutional Investors Weigh In On Globe Life

Several hedge funds have recently added to or reduced their stakes in GL. Private Trust Co. NA increased its stake in shares of Globe Life by 12.5% during the fourth quarter. Private Trust Co. NA now owns 754 shares of the company’s stock valued at $84,000 after buying an additional 84 shares during the period. HighPoint Advisor Group LLC raised its holdings in Globe Life by 4.0% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,271 shares of the company’s stock worth $276,000 after acquiring an additional 87 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of Globe Life by 4.0% during the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company’s stock valued at $256,000 after purchasing an additional 88 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Globe Life by 32.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $41,000 after acquiring an additional 90 shares during the last quarter. Finally, New Mexico Educational Retirement Board boosted its holdings in Globe Life by 2.4% in the fourth quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company’s stock worth $472,000 after purchasing an additional 100 shares during the last quarter. 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.