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

Globe Life Inc. (NYSE:GL) has earned an average rating of “Moderate Buy” from the ten analysts that are currently covering the stock, Marketbeat.com reports. Four research 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 twelve-month target price among brokers that have issued ratings on the stock in the last year is $117.40.

A number of research firms recently commented on GL. Raymond James lifted their price target on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research note on Tuesday. Truist Financial lifted their price target on shares of Globe Life from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. TD Cowen began coverage on shares of Globe Life in a research note on Wednesday, October 9th. They set a “buy” rating and a $150.00 price target for the company. Wells Fargo & Company lifted their price target on shares of Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley boosted their price objective on shares of Globe Life from $66.00 to $83.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th.

Globe Life Stock Performance

Shares of NYSE:GL opened at $110.87 on Thursday. Globe Life has a 52 week low of $38.95 and a 52 week high of $132.00. The stock has a market capitalization of $9.98 billion, a P/E ratio of 10.59 and a beta of 0.81. The firm has a fifty day simple moving average of $103.16 and a two-hundred day simple moving average of $90.81. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.31.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the company posted $2.61 EPS. The business’s revenue was up 8.6% on a year-over-year basis. On average, analysts expect that Globe Life will post 11.93 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a $0.24 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.96 annualized dividend and a dividend yield of 0.87%. Globe Life’s payout ratio is presently 9.17%.

Insider Transactions at Globe Life

In other Globe Life news, Director Mary E. Thigpen purchased 3,000 shares of the stock in a transaction dated Friday, July 26th. The stock was purchased at an average price of $90.20 per share, with a total value of $270,600.00. Following the transaction, the director now owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.51% of the company’s stock.

Institutional Investors Weigh In On Globe Life

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Nomura Holdings Inc. purchased a new position in shares of Globe Life in the fourth quarter worth $211,000. NBC Securities Inc. raised its holdings in shares of Globe Life by 2.7% in the first quarter. NBC Securities Inc. now owns 5,803 shares of the company’s stock worth $675,000 after buying an additional 153 shares during the last quarter. Alaska Permanent Fund Corp raised its holdings in shares of Globe Life by 8.9% in the first quarter. Alaska Permanent Fund Corp now owns 23,487 shares of the company’s stock worth $2,733,000 after buying an additional 1,925 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Globe Life by 10.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,432 shares of the company’s stock worth $1,098,000 after buying an additional 875 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. purchased a new position in shares of Globe Life in the first quarter worth $4,422,000. Hedge funds and other institutional investors 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.