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

Globe Life (NYSE:GL) had its price target lifted by Evercore ISI from $83.00 to $86.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

Several other brokerages also recently issued reports on GL. Raymond James reissued a strong-buy rating on shares of Globe Life in a report on Tuesday, May 21st. Piper Sandler cut their target price on Globe Life from $130.00 to $110.00 and set an overweight rating on the stock in a research note on Wednesday, April 24th. Wells Fargo & Company cut their target price on Globe Life from $132.00 to $108.00 and set an overweight rating on the stock in a research note on Wednesday, April 24th. Truist Financial cut their target price on Globe Life from $125.00 to $80.00 and set a hold rating on the stock in a research note on Wednesday, April 24th. Finally, StockNews.com downgraded Globe Life from a buy rating to a hold rating in a research note on Saturday, April 20th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $111.67.

Globe Life Price Performance

Shares of GL opened at $82.28 on Wednesday. The firm has a market cap of $7.59 billion, a price-to-earnings 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 current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average of $81.72 and a 200-day moving average of $104.31.

Globe Life (NYSE:GL) last announced its quarterly earnings results 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 the consensus estimate of $1.42 billion. Globe Life had a return on equity of 23.01% and a net margin of 18.07%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the business posted $2.53 EPS. As a group, analysts forecast that Globe Life will post 11.72 EPS for the current year.

Globe Life Announces Dividend

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

Insider Buying and Selling

In related news, EVP Rebecca E. Zorn sold 2,320 shares of Globe Life stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the transaction, the executive vice president now directly owns 10,220 shares in the company, valued at approximately $790,006. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Globe Life news, CFO Thomas Peter Kalmbach purchased 500 shares of the stock in a transaction dated Friday, May 17th. The shares were acquired at an average price of $84.43 per share, for a total transaction of $42,215.00. Following the completion of the acquisition, the chief financial officer now owns 18,080 shares of the company’s stock, valued at approximately $1,526,494.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Rebecca E. Zorn sold 2,320 shares of Globe Life stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $77.30, for a total value 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 disclosure for this sale can be found here. Insiders have purchased 6,500 shares of company stock worth $536,860 in the last three months. 1.51% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Private Trust Co. NA grew its stake in Globe Life by 270.0% in the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after purchasing an additional 162 shares in the last quarter. Private Wealth Management Group LLC purchased a new position in Globe Life in the fourth quarter valued at about $27,000. BKM Wealth Management LLC purchased a new position in Globe Life in the fourth quarter valued at about $28,000. Lindbrook Capital LLC grew its stake in Globe Life by 62.2% in the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after purchasing an additional 92 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its stake in Globe Life by 177.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock valued at $34,000 after purchasing an additional 177 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.