Globe Life (NYSE:GL) Given New $201.00 Price Target at JPMorgan Chase & Co.

Globe Life (NYSE:GL) had its price objective boosted by JPMorgan Chase & Co. from $181.00 to $201.00 in a report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also issued reports about the stock. Weiss Ratings upgraded shares of Globe Life from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. Piper Sandler lifted their price objective on Globe Life from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. TD Cowen upped their target price on Globe Life from $199.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Keefe, Bruyette & Woods increased their target price on Globe Life from $180.00 to $192.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Finally, Truist Financial raised their price target on Globe Life from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Globe Life currently has a consensus rating of “Moderate Buy” and an average price target of $186.60.

Globe Life Price Performance

Shares of NYSE GL opened at $184.38 on Tuesday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.38. The company’s 50-day moving average price is $167.76 and its 200 day moving average price is $152.23. Globe Life has a 52 week low of $120.05 and a 52 week high of $191.55. The stock has a market cap of $14.32 billion, a price-to-earnings ratio of 12.75 and a beta of 0.47.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, April 22nd. The company reported $3.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.46 by ($0.03). Globe Life had a return on equity of 20.94% and a net margin of 19.38%.The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the previous year, the firm posted $3.07 EPS. The business’s revenue was up 5.3% on a year-over-year basis. As a group, research analysts forecast that Globe Life will post 15.64 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, July 6th. Globe Life’s dividend payout ratio (DPR) is currently 9.13%.

Insider Buying and Selling at Globe Life

In other news, CEO James Matthew Darden sold 4,663 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $153.88, for a total value of $717,542.44. Following the completion of the transaction, the chief executive officer owned 58,451 shares of the company’s stock, valued at $8,994,439.88. The trade was a 7.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Cheryl Alston sold 8,258 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $179.24, for a total transaction of $1,480,163.92. Following the transaction, the director directly owned 16,621 shares in the company, valued at $2,979,148.04. The trade was a 33.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 124,187 shares of company stock valued at $19,529,414. Corporate insiders own 2.11% of the company’s stock.

Institutional Investors Weigh In On Globe Life

Several hedge funds have recently made changes to their positions in the business. CYBER HORNET ETFs LLC purchased a new position in Globe Life during the second quarter worth about $28,000. Hilton Head Capital Partners LLC acquired a new stake in Globe Life in the 4th quarter worth about $30,000. MUFG Securities EMEA plc purchased a new stake in Globe Life in the 2nd quarter valued at about $31,000. Torren Management LLC purchased a new stake in Globe Life in the 4th quarter valued at about $37,000. Finally, AdvisorNet Financial Inc grew its holdings in Globe Life by 41.1% in the 1st quarter. AdvisorNet Financial Inc now owns 316 shares of the company’s stock valued at $44,000 after buying an additional 92 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

About Globe Life

Globe Life, traded on the NYSE under the symbol GL, is a U.S.-based insurance holding company that underwrites and distributes a range of life and supplemental health insurance products. Through its subsidiary brands—Globe Life, American Income Life, Liberty National Life, United American Insurance Company and Family Heritage Life—it offers term life, whole life, fixed annuities and supplemental health coverage designed to meet the needs of individuals and families across various socioeconomic segments.

The company’s product suite includes low-cost, easy-to-understand life insurance policies, accidental death and dismemberment coverage, hospital indemnity plans and specified disease insurance.