Jefferies Financial Group Boosts Globe Life (NYSE:GL) Price Target to $88.00

Globe Life (NYSE:GL) had its price target upped by Jefferies Financial Group from $85.00 to $88.00 in a research note issued to investors on Friday morning, Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

A number of other brokerages have also recently commented on GL. Keefe, Bruyette & Woods raised Globe Life from a market perform rating to an outperform rating and decreased their price objective for the stock from $130.00 to $110.00 in a research note on Wednesday, April 24th. Wells Fargo & Company decreased their target price on Globe Life from $132.00 to $108.00 and set an overweight rating for the company in a research note on Wednesday, April 24th. Raymond James reissued a strong-buy rating on shares of Globe Life in a research note on Tuesday, May 21st. Piper Sandler decreased their target price on Globe Life from $110.00 to $105.00 and set an overweight rating for the company in a research note on Friday. Finally, Truist Financial decreased their target price on Globe Life from $125.00 to $80.00 and set a hold rating for the company in a research note on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $111.67.

Globe Life Stock Up 0.0 %

NYSE GL opened at $82.28 on Friday. The stock has a fifty day moving average of $81.72 and a 200-day moving average of $104.17. The stock has a market capitalization of $7.59 billion, a P/E ratio of 7.86 and a beta of 0.81. Globe Life has a 52 week low of $38.95 and a 52 week high of $132.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Globe Life had a return on equity of 23.01% and a net margin of 18.07%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the firm earned $2.53 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities research analysts forecast that Globe Life will post 11.72 EPS for the current year.

Globe Life Dividend Announcement

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

Insider Activity

In related news, Director David A. Rodriguez bought 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The shares were acquired at an average price of $79.72 per share, for a total transaction of $119,580.00. Following the completion of the acquisition, the director now owns 4,192 shares of the company’s stock, valued at approximately $334,186.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director David A. Rodriguez bought 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The shares were acquired at an average price of $79.72 per share, for a total transaction of $119,580.00. Following the completion of the acquisition, the director now owns 4,192 shares of the company’s stock, valued at approximately $334,186.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Edward Hensley bought 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average price of $82.17 per share, for a total transaction of $205,425.00. Following the acquisition, the executive vice president now directly owns 7,290 shares of the company’s stock, valued at approximately $599,019.30. The disclosure for this purchase can be found here. Insiders have bought a total of 6,500 shares of company stock worth $536,860 over the last three months. Corporate insiders own 1.51% of the company’s stock.

Institutional Trading of Globe Life

Institutional investors and hedge funds have recently bought and sold shares of the stock. LPL Financial LLC raised its stake in Globe Life by 566.1% in the third quarter. LPL Financial LLC now owns 99,459 shares of the company’s stock valued at $10,814,000 after buying an additional 84,528 shares during the period. Mariner LLC raised its stake in Globe Life by 3.9% in the third quarter. Mariner LLC now owns 6,509 shares of the company’s stock valued at $708,000 after buying an additional 245 shares during the period. Trexquant Investment LP raised its stake in Globe Life by 94.9% in the third quarter. Trexquant Investment LP now owns 13,886 shares of the company’s stock valued at $1,510,000 after buying an additional 6,762 shares during the period. Treasurer of the State of North Carolina raised its stake in Globe Life by 69.9% in the third quarter. Treasurer of the State of North Carolina now owns 86,975 shares of the company’s stock valued at $9,457,000 after buying an additional 35,784 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of Globe Life by 23.9% in the third quarter. Tower Research Capital LLC TRC now owns 4,529 shares of the company’s stock valued at $492,000 after purchasing an additional 874 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

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.