Globe Life (NYSE:GL) Stock Price Expected to Rise, Piper Sandler Analyst Says

Globe Life (NYSE:GL) had its price objective raised by Piper Sandler from $140.00 to $152.00 in a report issued on Wednesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other equities analysts also recently weighed in on the stock. Keefe, Bruyette & Woods raised their target price 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. BMO Capital Markets began 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 for the company. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and upped their target price for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. raised their price target on Globe Life from $136.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Wells Fargo & Company boosted their price target on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Globe Life currently has a consensus rating of “Moderate Buy” and an average price target of $138.45.

Globe Life Trading Down 8.0 %

Shares of GL opened at $117.30 on Wednesday. Globe Life has a twelve month low of $38.95 and a twelve month high of $133.76. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $9.76 billion, a P/E ratio of 9.82 and a beta of 0.60. The firm’s 50-day moving average is $124.89 and its two-hundred day moving average is $114.70.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts predict that Globe Life will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

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

Insider Transactions at Globe Life

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the sale, the director now directly owns 5,122 shares in the company, valued at $579,964.06. This represents a 36.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Frank M. Svoboda sold 13,448 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $112.56, for a total value of $1,513,706.88. Following the completion of the transaction, the chief executive officer now owns 18,948 shares in the company, valued at approximately $2,132,786.88. This trade represents a 41.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,338 shares of company stock worth $7,239,630 in the last three months. Company insiders own 1.51% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc increased its holdings in Globe Life by 140.2% in the 1st quarter. Versant Capital Management Inc now owns 586 shares of the company’s stock valued at $77,000 after purchasing an additional 342 shares in the last quarter. 111 Capital purchased a new stake in shares of Globe Life in the fourth quarter worth about $242,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Globe Life by 5.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 20,938 shares of the company’s stock valued at $2,335,000 after buying an additional 1,159 shares in the last quarter. Campbell Deegan Wealth Management LLC acquired a new position in Globe Life during the 4th quarter worth approximately $246,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Globe Life during the 4th quarter worth approximately $8,384,000. Hedge funds and other 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.