Globe Life (NYSE:GL) Upgraded by Evercore ISI to Outperform Rating

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

Other equities analysts also recently issued research reports about the company. Keefe, Bruyette & Woods upped their target price on Globe Life from $120.00 to $125.00 and gave the company an "outperform" rating in a report on Tuesday, October 29th. Raymond James raised their target price on shares of Globe Life from $160.00 to $188.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, October 15th. Jefferies Financial Group boosted their price target on shares of Globe Life from $107.00 to $114.00 and gave the company a "hold" rating in a research report on Tuesday, December 10th. TD Cowen initiated coverage on shares of Globe Life in a report on Wednesday, October 9th. They issued a "buy" rating and a $150.00 price objective for the company. Finally, Wells Fargo & Company upped their target price on Globe Life from $108.00 to $117.00 and gave the stock an "overweight" rating in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Globe Life currently has an average rating of "Moderate Buy" and a consensus target price of $132.80.

Globe Life Price Performance

Shares of Globe Life stock traded up $2.70 during trading on Wednesday, hitting $114.19. 734,107 shares of the stock traded hands, compared to its average volume of 680,521. The stock has a market cap of $9.59 billion, a price-to-earnings ratio of 9.66 and a beta of 0.80. 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 has a 52 week low of $38.95 and a 52 week high of $132.00. The firm's fifty day moving average is $108.72 and its 200-day moving average is $101.68.

Globe Life (NYSE:GL - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm earned $2.71 EPS. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. Research analysts expect that Globe Life will post 12.31 EPS for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life's dividend payout ratio is currently 8.12%.

Insiders Place Their Bets

In other news, CMO Jennifer Allison Haworth sold 9,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $112.91, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frank M. Svoboda sold 13,448 shares of the business's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the completion of the sale, the chief executive officer now owns 18,948 shares in the company, valued at $2,132,786.88. This represents a 41.51 % 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 in the last three months. 1.51% of the stock is owned by company insiders.

Hedge Funds Weigh In On Globe Life

Several large investors have recently modified their holdings of the stock. UMB Bank n.a. boosted its holdings in Globe Life by 7.7% during the 3rd quarter. UMB Bank n.a. now owns 1,357 shares of the company's stock valued at $144,000 after acquiring an additional 97 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of Globe Life by 4.0% in the third quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company's stock worth $373,000 after purchasing an additional 136 shares during the last quarter. Fiduciary Trust Co grew its holdings in shares of Globe Life by 2.3% in the third quarter. Fiduciary Trust Co now owns 6,329 shares of the company's stock worth $670,000 after purchasing an additional 144 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Globe Life by 4.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,607 shares of the company's stock valued at $382,000 after buying an additional 166 shares in the last quarter. Finally, TrueWealth Advisors LLC boosted its position in Globe Life by 1.3% in the 3rd quarter. TrueWealth Advisors LLC now owns 13,141 shares of the company's stock valued at $1,392,000 after buying an additional 170 shares during the period. 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.