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

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

GL has been the topic of a number of recent research reports. Jefferies Financial Group lifted their target price on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods raised their price target on Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Morgan Stanley raised their price target on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Truist Financial raised their price target on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company raised their price target on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, October 10th.

Globe Life Stock Performance

Shares of Globe Life stock opened at $109.95 on Tuesday. The firm’s fifty day simple moving average is $108.16 and its 200-day simple moving average is $100.07. The stock has a market capitalization of $9.23 billion, a price-to-earnings ratio of 9.30 and a beta of 0.81. Globe Life has a 12 month low of $38.95 and a 12 month high of $132.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, beating 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 net margin of 19.04% and a return on equity of 22.91%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.71 EPS. As a group, equities analysts forecast that Globe Life will post 12.31 earnings per share for the current year.

Globe Life Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s dividend payout ratio is currently 8.12%.

Insider Activity

In related news, CEO Frank M. Svoboda sold 14,340 shares of Globe Life 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 in the company, valued at approximately $1,783,884.80. This trade represents a 46.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.51% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Globe Life by 3.4% during the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after purchasing an additional 115,432 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Globe Life by 3.5% during the third quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock worth $276,994,000 after acquiring an additional 89,299 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Globe Life by 22.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock worth $160,949,000 after acquiring an additional 277,108 shares during the last quarter. Millennium Management LLC increased its position in shares of Globe Life by 177.0% during the second quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock worth $105,303,000 after acquiring an additional 817,760 shares during the last quarter. Finally, Nuance Investments LLC increased its position in shares of Globe Life by 155.6% during the third quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock worth $120,629,000 after acquiring an additional 693,346 shares during the last quarter. Institutional investors and hedge funds 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.