Piper Sandler Raises Globe Life (NYSE:GL) Price Target to $106.00

Globe Life (NYSE:GL) had its price target upped by equities researchers at Piper Sandler from $105.00 to $106.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 18.46% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Jefferies Financial Group boosted their target price on Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, June 28th. Raymond James reaffirmed a “strong-buy” rating on shares of Globe Life in a report on Tuesday, May 21st. StockNews.com downgraded Globe Life from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Truist Financial upped their price target on Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a report on Friday. Finally, Keefe, Bruyette & Woods raised Globe Life from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $130.00 to $110.00 in a report on Wednesday, April 24th. 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $105.44.

Globe Life Trading Up 0.4 %

Shares of GL traded up $0.40 during mid-day trading on Friday, hitting $89.48. 33,621 shares of the company’s stock traded hands, compared to its average volume of 1,938,198. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.32. Globe Life has a 1 year low of $38.95 and a 1 year high of $132.00. The firm has a market capitalization of $8.06 billion, a P/E ratio of 8.54 and a beta of 0.81. The business’s 50-day moving average price is $83.50 and its 200-day moving average price is $99.62.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.07. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Globe Life had a return on equity of 22.53% and a net margin of 18.47%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.61 earnings per share. As a group, sell-side analysts forecast that Globe Life will post 11.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Robert Edward Hensley purchased 2,500 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was acquired at an average cost of $82.17 per share, for a total transaction of $205,425.00. Following the completion of the transaction, the executive vice president now directly owns 7,290 shares in the company, valued at approximately $599,019.30. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Robert Edward Hensley purchased 2,500 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was acquired at an average cost of $82.17 per share, for a total transaction of $205,425.00. Following the completion of the transaction, the executive vice president now directly owns 7,290 shares in the company, valued at approximately $599,019.30. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James Matthew Darden purchased 2,000 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was purchased at an average price of $84.82 per share, with a total value of $169,640.00. Following the completion of the transaction, the chief executive officer now owns 37,973 shares of the company’s stock, valued at $3,220,869.86. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 5,000 shares of company stock worth $417,280. Company insiders own 1.51% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Globe Life by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock valued at $1,309,755,000 after buying an additional 425,993 shares in the last quarter. Cooke & Bieler LP boosted its holdings in shares of Globe Life by 2.0% in the 4th quarter. Cooke & Bieler LP now owns 2,357,839 shares of the company’s stock valued at $286,996,000 after buying an additional 45,227 shares in the last quarter. Boston Partners boosted its holdings in shares of Globe Life by 6.4% in the 1st quarter. Boston Partners now owns 2,092,526 shares of the company’s stock valued at $243,200,000 after buying an additional 125,457 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Globe Life by 104.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company’s stock valued at $132,577,000 after buying an additional 822,638 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Globe Life by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,200,369 shares of the company’s stock worth $146,109,000 after purchasing an additional 29,560 shares in the last quarter. Hedge funds and other 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.