Piper Sandler Trims Globe Life (NYSE:GL) Target Price to $110.00

Globe Life (NYSE:GL) had its target price lowered by Piper Sandler from $130.00 to $110.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

GL has been the subject of several other research reports. Evercore ISI lowered their price objective on shares of Globe Life from $125.00 to $75.00 and set an in-line rating for the company in a research report on Friday, April 12th. Wells Fargo & Company lowered their price objective on shares of Globe Life from $132.00 to $108.00 and set an overweight rating for the company in a research report on Wednesday. Truist Financial lowered their price objective on shares of Globe Life from $125.00 to $80.00 and set a hold rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods upgraded Globe Life from a market perform rating to an outperform rating and reduced their target price for the company from $130.00 to $110.00 in a research note on Wednesday. Finally, JPMorgan Chase & Co. increased their target price on Globe Life from $133.00 to $136.00 and gave the company an overweight rating in a research note on Thursday, February 8th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $114.33.

Globe Life Stock Up 0.3 %

GL opened at $75.75 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life has a 1 year low of $38.95 and a 1 year high of $132.00. The firm has a 50 day moving average price of $106.65 and a 200 day moving average price of $115.29. The company has a market cap of $7.12 billion, a PE ratio of 7.23 and a beta of 0.69.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the business earned $2.53 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. Sell-side analysts expect that Globe Life will post 11.73 earnings per share for the current year.

Globe Life Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a dividend of $0.24 per share. This is a boost from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Thursday, April 4th. Globe Life’s dividend payout ratio is 9.17%.

Insider Buying and Selling

In other news, Director David A. Rodriguez acquired 1,500 shares of Globe Life stock in a transaction that occurred on Wednesday, April 24th. The shares were purchased at an average cost of $79.72 per share, for a total transaction of $119,580.00. Following the completion of the purchase, the director now directly owns 4,192 shares of the company’s stock, valued at approximately $334,186.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Rebecca E. Zorn sold 2,320 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total transaction of $179,336.00. Following the transaction, the executive vice president now directly owns 10,220 shares in the company, valued at $790,006. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Rodriguez acquired 1,500 shares of Globe Life stock in a transaction that occurred on Wednesday, April 24th. The shares were purchased at an average price of $79.72 per share, for a total transaction of $119,580.00. Following the completion of the purchase, the director now directly owns 4,192 shares of the company’s stock, valued at $334,186.24. The disclosure for this purchase can be found here. 1.51% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Globe Life

A number of hedge funds have recently added to or reduced their stakes in GL. CWM LLC lifted its stake in Globe Life by 11.4% in the third quarter. CWM LLC now owns 1,527 shares of the company’s stock valued at $166,000 after buying an additional 156 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in Globe Life in the third quarter valued at $625,000. Oak Thistle LLC bought a new stake in Globe Life in the third quarter valued at $1,191,000. Czech National Bank lifted its stake in Globe Life by 44.5% in the third quarter. Czech National Bank now owns 15,197 shares of the company’s stock valued at $1,652,000 after buying an additional 4,677 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in Globe Life by 1.3% in the third quarter. Asset Management One Co. Ltd. now owns 37,304 shares of the company’s stock valued at $4,056,000 after buying an additional 476 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors.

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.