Globe Life Inc. (NYSE:GL) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Globe Life Inc. (NYSE:GL) have received an average rating of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $114.33.

Several brokerages recently commented on GL. Evercore ISI dropped their price objective on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research note on Friday, April 12th. StockNews.com lowered Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Raymond James reiterated a “strong-buy” rating on shares of Globe Life in a research report on Tuesday, May 21st. JPMorgan Chase & Co. boosted 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, Piper Sandler dropped their price objective on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th.

Globe Life Trading Up 1.5 %

Shares of GL stock opened at $81.74 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The company has a market cap of $7.54 billion, a PE ratio of 7.81 and a beta of 0.78. The stock’s fifty day moving average price is $90.03 and its two-hundred day moving average price is $111.00.

Globe Life (NYSE:GL) last released its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.01%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business earned $2.53 earnings per share. Equities analysts predict that Globe Life will post 11.72 EPS for the current fiscal year.

Globe Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Wednesday, July 3rd. Globe Life’s dividend payout ratio is presently 9.17%.

Insider Activity at Globe Life

In other Globe Life news, CEO James Matthew Darden acquired 2,000 shares of the stock in a transaction dated Thursday, May 16th. The stock was purchased at an average cost of $84.82 per share, with a total value of $169,640.00. Following the transaction, the chief executive officer now owns 37,973 shares in the company, valued at approximately $3,220,869.86. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, Director David A. Rodriguez purchased 1,500 shares of Globe Life stock in a transaction on Wednesday, April 24th. The stock was acquired at an average cost of $79.72 per share, for a total transaction of $119,580.00. Following the completion of the acquisition, the director now owns 4,192 shares of the company’s stock, valued at approximately $334,186.24. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO James Matthew Darden purchased 2,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was bought at an average cost of $84.82 per share, with a total value of $169,640.00. Following the completion of the purchase, the chief executive officer now owns 37,973 shares of the company’s stock, valued at approximately $3,220,869.86. The disclosure for this purchase can be found here. Insiders have bought a total of 4,000 shares of company stock worth $331,435 over the last quarter. Company insiders own 1.51% of the company’s stock.

Institutional Trading of Globe Life

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GL. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Globe Life during the third quarter valued at approximately $464,000. Park Avenue Securities LLC acquired a new position in shares of Globe Life during the third quarter valued at about $239,000. Fifth Third Bancorp increased its position in shares of Globe Life by 63.2% during the third quarter. Fifth Third Bancorp now owns 5,454 shares of the company’s stock worth $593,000 after acquiring an additional 2,112 shares in the last quarter. New Mexico Educational Retirement Board lifted its position in Globe Life by 4.5% in the 3rd quarter. New Mexico Educational Retirement Board now owns 4,633 shares of the company’s stock valued at $504,000 after acquiring an additional 200 shares in the last quarter. Finally, Empirical Finance LLC boosted its stake in Globe Life by 10.0% during the 3rd quarter. Empirical Finance LLC now owns 3,197 shares of the company’s stock valued at $348,000 after purchasing an additional 290 shares during the last quarter. 81.61% of the stock is 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.