Globe Life (NYSE:GL) Earns Market Perform Rating from Analysts at BMO Capital Markets

BMO Capital Markets began coverage on shares of Globe Life (NYSE:GL) in a research note issued to investors on Thursday, Marketbeat.com reports. The firm issued a market perform rating and a $114.00 price target on the stock.

A number of other analysts have also recently commented on the company. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Piper Sandler boosted their target price on Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Jefferies Financial Group raised their price target on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Morgan Stanley upped their price target on shares of Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Finally, Raymond James raised their price objective on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 15th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $132.18.

Globe Life Price Performance

GL opened at $119.37 on Thursday. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00. The company has a market cap of $10.02 billion, a price-to-earnings ratio of 10.10 and a beta of 0.80. 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 stock has a fifty day simple moving average of $110.88 and a two-hundred day simple moving average of $104.56.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43. The company had revenue of $1.46 billion during 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%. Globe Life’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the company posted $2.71 EPS. Research analysts predict that Globe Life will post 12.32 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s dividend payout ratio is currently 8.12%.

Insider Activity

In other news, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the sale, the director now owns 5,122 shares of the company’s stock, valued at $579,964.06. The trade was a 36.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Frank M. Svoboda sold 13,448 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $112.56, for a total value of $1,513,706.88. Following the completion of the sale, the chief executive officer now owns 18,948 shares of the company’s stock, valued at $2,132,786.88. This trade represents a 41.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,788 shares of company stock valued at $4,429,779 in the last ninety days. 1.51% of the stock is currently owned by company insiders.

Institutional Trading of Globe Life

Several hedge funds have recently bought and sold shares of GL. UMB Bank n.a. raised its position in shares of Globe Life by 7.7% during the 3rd quarter. UMB Bank n.a. now owns 1,357 shares of the company’s stock valued at $144,000 after purchasing an additional 97 shares during the period. Ballentine Partners LLC increased its stake in Globe Life by 4.5% in the 4th quarter. Ballentine Partners LLC now owns 2,803 shares of the company’s stock worth $313,000 after buying an additional 121 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Globe Life by 4.0% during the third quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company’s stock valued at $373,000 after acquiring an additional 136 shares during the period. Fiduciary Trust Co lifted its position in shares of Globe Life by 2.3% in the third quarter. Fiduciary Trust Co now owns 6,329 shares of the company’s stock valued at $670,000 after acquiring an additional 144 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Globe Life by 0.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,923 shares of the company’s stock worth $2,110,000 after acquiring an additional 144 shares during the period. Institutional investors own 81.61% of the company’s stock.

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.