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

Globe Life Inc. (NYSE:GL) has earned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $108.33.

GL has been the topic of a number of research reports. Jefferies Financial Group lifted their target price on shares of Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, June 28th. Wells Fargo & Company increased their target price on Globe Life from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Piper Sandler lifted their price target on Globe Life from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $118.00 price objective (up previously from $110.00) on shares of Globe Life in a report on Wednesday, July 31st. Finally, Morgan Stanley boosted their target price on shares of Globe Life from $66.00 to $83.00 and gave the company an “equal weight” rating in a report on Monday, August 19th.

Insider Buying and Selling

In other Globe Life news, Director Mary E. Thigpen purchased 3,000 shares of the stock in a transaction dated Friday, July 26th. The shares were purchased at an average cost of $90.20 per share, with a total value of $270,600.00. Following the completion of the acquisition, the director now directly owns 15,605 shares in the company, valued at approximately $1,407,571. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.51% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GL. Principal Securities Inc. bought a new stake in shares of Globe Life in the fourth quarter worth $52,000. Janney Montgomery Scott LLC purchased a new stake in shares of Globe Life during the 4th quarter valued at about $2,716,000. Beacon Pointe Advisors LLC bought a new position in shares of Globe Life in the 4th quarter worth approximately $286,000. UBS Group AG boosted its holdings in shares of Globe Life by 55.4% in the fourth quarter. UBS Group AG now owns 329,414 shares of the company’s stock worth $40,096,000 after buying an additional 117,406 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Globe Life by 9.4% during the fourth quarter. Franklin Resources Inc. now owns 43,655 shares of the company’s stock valued at $5,314,000 after buying an additional 3,767 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Stock Down 0.9 %

NYSE GL opened at $106.26 on Friday. Globe Life has a 1 year low of $38.95 and a 1 year high of $132.00. The stock has a market capitalization of $9.57 billion, a PE ratio of 10.15 and a beta of 0.81. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05. The business’s 50-day moving average is $97.02 and its 200 day moving average is $92.58.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.07. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the previous year, the firm earned $2.61 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year. Sell-side analysts forecast that Globe Life will post 11.93 earnings per share for the current year.

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Friday, October 4th. Globe Life’s payout ratio is 9.17%.

Globe Life Company Profile

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.