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

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

Several other brokerages also recently weighed in on GL. Morgan Stanley lifted their target price on Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. BMO Capital Markets started coverage on shares of Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price objective for the company. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and raised their target price for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods upped their price target on shares of Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company raised their price objective on shares of Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Globe Life has an average rating of “Moderate Buy” and an average price target of $138.45.

Globe Life Stock Up 0.9 %

Globe Life stock opened at $133.30 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life has a one year low of $38.95 and a one year high of $135.00. The company has a 50-day simple moving average of $124.75 and a 200-day simple moving average of $114.54. The firm has a market capitalization of $11.10 billion, a P/E ratio of 11.15 and a beta of 0.77.

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

Globe Life Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Thursday, April 3rd. This is an increase from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s dividend payout ratio is 9.04%.

Insider Transactions at Globe Life

In other Globe Life news, CEO James Matthew Darden sold 24,890 shares of the firm’s stock in a transaction dated 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 directly owns 38,973 shares in the company, valued at $4,735,998.96. This trade represents a 38.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the sale, the director now owns 5,122 shares in the company, valued at $579,964.06. This represents a 36.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,338 shares of company stock valued at $7,239,630 in the last three months. 1.51% of the stock is currently owned by corporate insiders.

Institutional Trading of Globe Life

Several hedge funds and other institutional investors have recently modified their holdings of the business. Versant Capital Management Inc lifted its stake in Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after acquiring an additional 194 shares in the last quarter. Albion Financial Group UT purchased a new position in Globe Life during the 4th quarter valued at about $28,000. Rakuten Securities Inc. acquired a new position in shares of Globe Life in the 4th quarter valued at about $28,000. Avalon Trust Co purchased a new stake in shares of Globe Life in the fourth quarter worth approximately $41,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Globe Life by 32.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $41,000 after purchasing an additional 90 shares during the period. Institutional investors and hedge funds 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.