Globe Life (NYSE:GL) Price Target Cut to $110.00 by Analysts at Piper Sandler

Globe Life (NYSE:GL) had its target price trimmed by Piper Sandler from $130.00 to $110.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages have also commented on GL. Wells Fargo & Company cut their price target on Globe Life from $132.00 to $108.00 and set an overweight rating for the company in a report on Wednesday. Evercore ISI cut their price target on Globe Life from $125.00 to $75.00 and set an in-line rating for the company in a report on Friday, April 12th. StockNews.com lowered Globe Life from a buy rating to a hold rating in a report on Saturday, April 20th. JPMorgan Chase & Co. upped their price target on Globe Life from $133.00 to $136.00 and gave the stock an overweight rating in a report on Thursday, February 8th. Finally, Keefe, Bruyette & Woods upgraded Globe Life from a market perform rating to an outperform rating and cut their price target for the stock from $130.00 to $110.00 in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $114.33.

Globe Life Stock Up 0.3 %

Shares of Globe Life stock opened at $75.75 on Wednesday. The stock has a market capitalization of $7.12 billion, a P/E ratio of 7.23 and a beta of 0.69. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. The stock has a 50 day moving average price of $106.65 and a two-hundred day moving average price of $115.29. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00.

Globe Life (NYSE:GL) last announced its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the company earned $2.53 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts expect that Globe Life will post 11.73 earnings per share for the current year.

Globe Life Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.27%. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, April 4th. Globe Life’s dividend payout ratio is presently 9.17%.

Insider Activity at Globe Life

In related news, EVP Rebecca E. Zorn sold 2,320 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 10,220 shares in the company, valued at $790,006. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director David A. Rodriguez purchased 1,500 shares of the stock in a transaction on Wednesday, April 24th. The shares were purchased at an average cost of $79.72 per share, for a total transaction of $119,580.00. Following the completion of the transaction, the director now directly owns 4,192 shares of the company’s stock, valued at approximately $334,186.24. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Rebecca E. Zorn sold 2,320 shares of the company’s 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 completion of the sale, the executive vice president now owns 10,220 shares in the company, valued at $790,006. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by corporate insiders.

Institutional Trading of Globe Life

A number of large investors have recently bought and sold shares of the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Globe Life by 13.3% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 73,496 shares of the company’s stock valued at $8,553,000 after acquiring an additional 8,600 shares during the period. Canvas Wealth Advisors LLC bought a new stake in shares of Globe Life during the first quarter worth $419,000. Revisor Wealth Management LLC bought a new stake in shares of Globe Life during the first quarter worth $314,000. Accurate Wealth Management LLC grew its holdings in shares of Globe Life by 26.5% during the first quarter. Accurate Wealth Management LLC now owns 22,565 shares of the company’s stock worth $2,626,000 after purchasing an additional 4,727 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in shares of Globe Life by 128.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 169,527 shares of the company’s stock worth $19,728,000 after purchasing an additional 95,273 shares during the last quarter. 81.61% of the stock is currently owned by 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.