Evercore ISI Boosts Globe Life (NYSE:GL) Price Target to $86.00

Globe Life (NYSE:GL) had its target price upped by Evercore ISI from $83.00 to $86.00 in a report published on Wednesday, Benzinga reports. They currently have an in-line rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. StockNews.com cut shares of Globe Life from a buy rating to a hold rating in a research report on Saturday, April 20th. Raymond James restated a strong-buy rating on shares of Globe Life in a report on Tuesday, May 21st. Keefe, Bruyette & Woods upgraded shares of Globe Life from a market perform rating to an outperform rating and reduced their price target for the company from $130.00 to $110.00 in a report on Wednesday, April 24th. Wells Fargo & Company reduced their price target on shares of Globe Life from $132.00 to $108.00 and set an overweight rating for the company in a report on Wednesday, April 24th. Finally, Piper Sandler reduced their price target on shares of Globe Life from $130.00 to $110.00 and set an overweight rating for the company in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $111.67.

Globe Life Price Performance

GL stock opened at $82.20 on Wednesday. The stock has a market cap of $7.58 billion, a PE ratio of 7.85 and a beta of 0.81. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.32. Globe Life has a 12 month low of $38.95 and a 12 month high of $132.00. The company has a 50-day moving average price of $81.72 and a 200 day moving average price of $104.45.

Globe Life (NYSE:GL) last released 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). The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.01%. Globe Life’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm earned $2.53 earnings per share. Equities research analysts anticipate that Globe Life will post 11.72 earnings per share for the current year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, July 5th. This represents a $0.96 annualized dividend and a dividend yield of 1.17%. Globe Life’s dividend payout ratio (DPR) is presently 9.17%.

Insider Buying and Selling

In other Globe Life news, EVP Rebecca E. Zorn sold 2,320 shares of the company’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 transaction, the executive vice president now owns 10,220 shares in the company, valued at approximately $790,006. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Globe Life news, EVP Rebecca E. Zorn sold 2,320 shares of the company’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 transaction, the executive vice president now owns 10,220 shares in the company, valued at approximately $790,006. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David A. Rodriguez purchased 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, for a total transaction of $119,580.00. Following the purchase, the director now directly owns 4,192 shares in the company, valued at approximately $334,186.24. The disclosure for this purchase can be found here. Insiders bought a total of 6,500 shares of company stock worth $536,860 in the last 90 days. 1.51% of the stock is owned by corporate insiders.

Institutional Trading of Globe Life

Several large investors have recently made changes to their positions in GL. Private Trust Co. NA boosted 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 acquiring an additional 162 shares during the last quarter. 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 boosted 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 acquiring an additional 92 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted 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 acquiring an additional 177 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

About Globe Life

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.