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

Globe Life Inc. (NYSE:GL) has been assigned an average recommendation of “Moderate Buy” from the ten research firms that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $127.10.

Several equities analysts have recently issued reports on GL shares. Wells Fargo & Company lifted their target price 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. 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. Raymond James raised their price target on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th. Jefferies Financial Group upped their price target on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, Morgan Stanley raised their price objective on shares of Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th.

Globe Life Price Performance

Shares of GL stock opened at $104.51 on Friday. The business’s fifty day moving average is $108.08 and its 200 day moving average is $97.83. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a market cap of $8.77 billion, a price-to-earnings ratio of 8.84 and a beta of 0.81. Globe Life has a twelve month low of $38.95 and a twelve month high of $132.00.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the firm earned $2.71 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. Research analysts expect that Globe Life will post 12.31 EPS 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. Shareholders of record on Wednesday, January 8th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Monday, January 6th. Globe Life’s dividend payout ratio (DPR) is presently 8.12%.

Insider Activity

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the completion of the sale, the chief executive officer now owns 16,396 shares of the company’s stock, valued at approximately $1,783,884.80. The trade was a 46.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.51% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GL. State Street Corp raised its position in shares of Globe Life by 3.4% during the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after purchasing an additional 115,432 shares during the period. Geode Capital Management LLC grew 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 purchasing an additional 89,299 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Globe Life by 104.3% during the second quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company’s stock valued at $132,577,000 after buying an additional 822,638 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Globe Life by 22.3% in 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 buying an additional 277,108 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Globe Life by 177.0% during the second quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock valued at $105,303,000 after acquiring an additional 817,760 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors.

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.