Globe Life (NYSE:GL) Price Target Raised to $105.00 at Truist Financial

Globe Life (NYSE:GL) had its price objective lifted by Truist Financial from $90.00 to $105.00 in a report issued on Friday, Benzinga reports. The firm currently has a hold rating on the stock.

Several other research analysts have also weighed in on the stock. Piper Sandler upped their price objective on shares of Globe Life from $106.00 to $118.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. TD Cowen initiated coverage on shares of Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price target on the stock. Jefferies Financial Group increased their price objective on Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, June 28th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $118.00 target price (up previously from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company raised their price target on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $123.80.

Globe Life Price Performance

Shares of NYSE:GL opened at $105.15 on Friday. The company’s fifty day moving average is $105.37 and its two-hundred day moving average is $90.67. The company has a market cap of $9.47 billion, a P/E ratio of 10.04 and a beta of 0.81. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.31.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.43. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the firm earned $2.71 earnings per share. Globe Life’s quarterly revenue was up 5.1% on a year-over-year basis. Equities analysts expect that Globe Life will post 11.93 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a yield of 0.91%. Globe Life’s payout ratio is currently 9.17%.

Hedge Funds Weigh In On Globe Life

Institutional investors have recently modified their holdings of the company. UMB Bank n.a. grew its stake in Globe Life by 7.7% in the 3rd quarter. UMB Bank n.a. now owns 1,357 shares of the company’s stock valued at $144,000 after buying an additional 97 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of Globe Life by 0.5% in the first quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock valued at $4,082,000 after purchasing an additional 167 shares during the last quarter. Perigon Wealth Management LLC increased its stake in shares of Globe Life by 7.6% in the first quarter. Perigon Wealth Management LLC now owns 2,619 shares of the company’s stock worth $305,000 after purchasing an additional 184 shares during the period. Ballentine Partners LLC lifted its position in shares of Globe Life by 7.7% during the 3rd quarter. Ballentine Partners LLC now owns 2,682 shares of the company’s stock worth $284,000 after purchasing an additional 191 shares during the last quarter. Finally, Bruce G. Allen Investments LLC lifted its position in shares of Globe Life by 33.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 806 shares of the company’s stock worth $66,000 after purchasing an additional 201 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Globe Life Company Profile

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.