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

Shares of Globe Life Inc. (NYSE:GL) have been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $124.50.

A number of analysts have issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Morgan Stanley lifted their target price on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Piper Sandler increased their price target on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Truist Financial lifted their price objective on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods increased their target price on Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th.

Insider Transactions at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value 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 represents a 46.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.51% of the company’s stock.

Institutional Trading of Globe Life

Several institutional investors and hedge funds have recently made changes to their positions in the business. Riverview Trust Co purchased a new stake in shares of Globe Life in the third quarter valued at approximately $32,000. Benjamin F. Edwards & Company Inc. raised its holdings 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 valued at $50,000 after acquiring an additional 281 shares in the last quarter. LRI Investments LLC lifted its stake in Globe Life by 898.4% in the second quarter. LRI Investments LLC now owns 619 shares of the company’s stock worth $51,000 after acquiring an additional 557 shares during the period. Family Firm Inc. bought a new position in Globe Life during the 2nd quarter worth about $54,000. Finally, True Wealth Design LLC purchased a new position in Globe Life during the 3rd quarter valued at about $59,000. 81.61% of the stock is currently owned by institutional investors.

Globe Life Price Performance

Shares of Globe Life stock opened at $106.65 on Friday. 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 stock’s 50-day simple moving average is $108.18 and its 200-day simple moving average is $97.04. The company has a market capitalization of $8.95 billion, a price-to-earnings ratio of 9.02 and a beta of 0.81.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.06 by $0.43. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.71 EPS. As a group, analysts expect that Globe Life will post 12.31 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 8th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s dividend 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.