Globe Life (NYSE:GL) Price Target Cut to $110.00 by Analysts at Piper Sandler

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

Other analysts have also issued reports about the company. StockNews.com lowered Globe Life from a buy rating to a hold rating in a report on Saturday, April 20th. Wells Fargo & Company lowered their price target on Globe Life from $132.00 to $108.00 and set an overweight rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. boosted their price objective on Globe Life from $133.00 to $136.00 and gave the stock an overweight rating in a research note on Thursday, February 8th. Evercore ISI lowered their price objective on Globe Life from $125.00 to $75.00 and set an in-line rating on the stock in a research note on Friday, April 12th. Finally, Truist Financial lowered their price objective on Globe Life from $125.00 to $80.00 and set a hold rating on the stock in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $114.33.

Globe Life Stock Up 3.7 %

Shares of GL stock opened at $78.60 on Wednesday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.36. Globe Life has a twelve month low of $38.95 and a twelve month high of $132.00. The stock has a 50 day moving average of $108.65 and a 200 day moving average of $115.82. The stock has a market cap of $7.39 billion, a P/E ratio of 7.51 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 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 business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the business posted $2.53 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, sell-side analysts expect that Globe Life will post 11.6 EPS for the current year.

Globe Life Increases Dividend

The company also recently disclosed 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 represents a $0.96 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, April 4th. This is an increase from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s payout ratio is currently 9.17%.

Institutional Investors Weigh In On Globe Life

Several institutional investors and hedge funds have recently modified their holdings of GL. Private Trust Co. NA raised its holdings in shares of Globe Life by 270.0% in the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after buying an additional 162 shares during the period. Private Wealth Management Group LLC purchased a new stake in shares of Globe Life in the 4th quarter valued at $27,000. BKM Wealth Management LLC purchased a new stake in shares of Globe Life in the 4th quarter valued at $28,000. Lindbrook Capital LLC raised its holdings in shares of Globe Life by 62.2% in the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after buying an additional 92 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Globe Life by 177.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock valued at $34,000 after buying an additional 177 shares during the period. Hedge funds and other 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.