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

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

A number of other analysts have also issued reports on GL. JPMorgan Chase & Co. boosted their price target on shares of Globe Life from $133.00 to $136.00 and gave the stock an overweight rating in a research note on Thursday, February 8th. Truist Financial cut their price target on shares of Globe Life from $125.00 to $80.00 and set a hold rating on the stock in a research note on Wednesday. StockNews.com lowered shares of Globe Life from a buy rating to a hold rating in a research note on Saturday, April 20th. Wells Fargo & Company cut their price target on shares of Globe Life from $132.00 to $108.00 and set an overweight rating on the stock in a research note on Wednesday. Finally, Evercore ISI reduced their target price on shares of Globe Life from $125.00 to $75.00 and set an in-line rating on the stock in a report on Friday, April 12th. Five research 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. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $114.33.

Globe Life Trading Up 0.3 %

NYSE GL opened at $75.75 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a market capitalization of $7.12 billion, a P/E ratio of 7.23 and a beta of 0.69. The firm’s 50-day moving average is $106.65 and its two-hundred day moving average is $115.30. Globe Life has a 12 month low of $38.95 and a 12 month high of $132.00.

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

Globe Life Increases Dividend

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

Insider Activity at Globe Life

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

Institutional Trading of Globe Life

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Private Trust Co. NA grew its position in shares of Globe Life by 270.0% during the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after acquiring an additional 162 shares during the last quarter. Private Wealth Management Group LLC purchased a new position in shares of Globe Life during the fourth quarter worth approximately $27,000. BKM Wealth Management LLC purchased a new position in shares of Globe Life during the fourth quarter worth approximately $28,000. Lindbrook Capital LLC grew its position in shares of Globe Life by 62.2% during the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after acquiring an additional 92 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of Globe Life by 177.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock worth $34,000 after acquiring an additional 177 shares during the last quarter. 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.