Globe Life (NYSE:GL) Upgraded at Evercore ISI

Evercore ISI upgraded shares of Globe Life (NYSE:GL) from an in-line rating to an outperform rating in a report issued on Wednesday, Marketbeat reports. Evercore ISI currently has $143.00 price objective on the stock, up from their previous price objective of $132.00.

Other equities analysts also recently issued reports about the stock. Truist Financial lifted their price objective on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Morgan Stanley increased their price objective on shares of Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. TD Cowen assumed coverage on Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price on the stock. Piper Sandler lifted their price target on Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Raymond James upped their price objective on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.00.

Globe Life Stock Down 1.4 %

Globe Life stock opened at $112.51 on Wednesday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The firm’s fifty day moving average price is $108.89 and its two-hundred day moving average price is $101.76. The firm has a market capitalization of $9.44 billion, a price-to-earnings ratio of 9.52 and a beta of 0.80. Globe Life has a 1-year low of $38.95 and a 1-year high of $132.00.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.71 EPS. On average, equities research analysts predict that Globe Life will post 12.31 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s dividend payout ratio (DPR) is presently 8.12%.

Insider Transactions at Globe Life

In other news, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the sale, the director now directly owns 5,122 shares of the company’s stock, valued at approximately $579,964.06. The trade was a 36.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $112.91, for a total value of $1,016,190.00. Following the completion of the transaction, the chief marketing officer now directly owns 13,485 shares in the company, valued at approximately $1,522,591.35. This represents a 40.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,788 shares of company stock worth $4,429,779 over the last quarter. Corporate insiders own 1.51% of the company’s stock.

Institutional Trading of Globe Life

Several hedge funds and other institutional investors have recently bought and sold shares of GL. Versant Capital Management Inc boosted its stake in shares of Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after purchasing an additional 194 shares in the last quarter. Riverview Trust Co purchased a new stake in Globe Life during the third quarter valued at about $32,000. Benjamin F. Edwards & Company Inc. boosted its position in Globe Life by 88.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after buying an additional 281 shares during the period. True Wealth Design LLC bought a new position in shares of Globe Life during the third quarter valued at about $59,000. Finally, Quarry LP increased its holdings in shares of Globe Life by 47.5% in the second quarter. Quarry LP now owns 838 shares of the company’s stock worth $69,000 after buying an additional 270 shares during the period. Hedge funds and other institutional investors own 81.61% of the company’s stock.

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.