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

Globe Life Inc. (NYSE:GL) has been assigned an average recommendation of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $127.10.

Several research analysts have recently issued reports on GL shares. Morgan Stanley lifted their price target on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. TD Cowen started coverage on shares of Globe Life in a research report on Wednesday, October 9th. They set a “buy” rating and a $150.00 target price for the company. Wells Fargo & Company increased their price target on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Piper Sandler lifted their price objective on Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Truist Financial upped their target price on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, October 25th.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the transaction, the chief executive officer now owns 16,396 shares of the company’s stock, valued at $1,783,884.80. This trade represents a 46.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.51% of the stock is owned by company insiders.

Institutional Trading of Globe Life

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc increased its position in Globe Life by 388.0% during the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after purchasing an additional 194 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of Globe Life in the third quarter worth $32,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Globe Life by 88.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after acquiring an additional 281 shares in the last quarter. True Wealth Design LLC purchased a new position in shares of Globe Life in the 3rd quarter valued at $59,000. Finally, Quarry LP lifted its holdings in shares of Globe Life by 47.5% during the 2nd quarter. Quarry LP now owns 838 shares of the company’s stock valued at $69,000 after acquiring an additional 270 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Trading Down 0.5 %

Shares of GL opened at $111.00 on Tuesday. Globe Life has a twelve month low of $38.95 and a twelve month high of $132.00. 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 has a market capitalization of $9.32 billion, a P/E ratio of 9.39 and a beta of 0.80. The firm’s 50-day moving average is $108.48 and its two-hundred day moving average is $101.39.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.71 EPS. On average, 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 announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be paid a $0.24 dividend. The ex-dividend date is Monday, January 6th. This represents a $0.96 annualized dividend and a yield of 0.86%. Globe Life’s payout ratio is currently 8.12%.

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.