Globe Life (NYSE:GL) PT Raised to $120.00

Globe Life (NYSE:GL) had its target price increased by Morgan Stanley from $110.00 to $120.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other equities analysts also recently commented on the stock. Truist Financial increased their price objective on shares of Globe Life from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $118.00 target price (up from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Evercore ISI raised their target price on shares of Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a research note on Wednesday, June 26th. Raymond James raised their target price on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group raised their target price on shares of Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, June 28th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $123.80.

Globe Life Price Performance

Shares of NYSE GL opened at $105.15 on Thursday. The firm has a market cap of $9.47 billion, a PE ratio of 10.04 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 0.31. Globe Life has a 1-year low of $38.95 and a 1-year high of $132.00. The company has a fifty day moving average price of $105.37 and a 200 day moving average price of $90.67.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the business posted $2.71 EPS. The company’s quarterly revenue was up 5.1% on a year-over-year basis. Research analysts predict that Globe Life will post 11.93 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, October 4th. This represents a $0.96 annualized dividend and a dividend yield of 0.91%. Globe Life’s dividend payout ratio is presently 9.17%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its stake in Globe Life by 10,526.9% during the first quarter. Nordea Investment Management AB now owns 998,717 shares of the company’s stock worth $116,061,000 after buying an additional 989,319 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in Globe Life by 398.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company’s stock worth $88,420,000 after purchasing an additional 859,146 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Globe Life by 104.3% during the second quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company’s stock worth $132,577,000 after purchasing an additional 822,638 shares during the last quarter. Millennium Management LLC boosted its holdings in Globe Life by 177.0% during the second quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock worth $105,303,000 after purchasing an additional 817,760 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its stake in Globe Life by 146.3% in the second quarter. Pzena Investment Management LLC now owns 930,378 shares of the company’s stock valued at $76,552,000 after acquiring an additional 552,634 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

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.