Globe Life (NYSE:GL) Given New $126.00 Price Target at Morgan Stanley

Globe Life (NYSE:GL) had its target price increased by Morgan Stanley from $125.00 to $126.00 in a research note released on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts also recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price objective on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Wells Fargo & Company raised their price objective on shares of Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Jefferies Financial Group raised their price objective on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Finally, Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $135.60.

Globe Life Stock Performance

Shares of GL stock opened at $127.69 on Friday. The company has a 50 day moving average price of $118.29 and a 200-day moving average price of $110.23. Globe Life has a 52 week low of $38.95 and a 52 week high of $129.05. The firm has a market capitalization of $10.72 billion, a PE ratio of 10.68 and a beta of 0.81. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, topping analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. As a group, equities research analysts expect that Globe Life will post 13.87 earnings per share for the current year.

Globe Life Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Thursday, April 3rd. This is an increase from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s payout ratio is 8.03%.

Insider Transactions at Globe Life

In other news, CMO Jennifer Allison Haworth sold 9,000 shares of the business’s 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 transaction, the chief marketing officer now owns 13,485 shares of the company’s stock, valued at approximately $1,522,591.35. The trade was a 40.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frank M. Svoboda sold 11,000 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the completion of the transaction, the chief executive officer now directly owns 18,948 shares in the company, valued at $2,317,529.88. This trade represents a 36.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,678 shares of company stock valued at $8,799,822. 1.51% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Globe Life

Several hedge funds have recently modified their holdings of GL. Versant Capital Management Inc increased its position in Globe Life by 388.0% in the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after purchasing an additional 194 shares during the last quarter. Rakuten Securities Inc. bought a new stake in Globe Life in the fourth quarter worth $28,000. Albion Financial Group UT bought a new stake in Globe Life in the fourth quarter worth $28,000. Avalon Trust Co bought a new stake in Globe Life in the fourth quarter worth $41,000. Finally, EverSource Wealth Advisors LLC increased its position in Globe Life by 32.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $41,000 after purchasing an additional 90 shares during 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.