Globe Life Inc. (NYSE:GL) Receives $132.18 Average PT from Analysts

Shares of Globe Life Inc. (NYSE:GL) have been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $132.18.

A number of equities research analysts have commented on GL shares. Jefferies Financial Group increased their target price on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. TD Cowen started coverage on Globe Life in a report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price on the stock. Morgan Stanley lifted their target price on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Raymond James raised their price objective on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, BMO Capital Markets began coverage on Globe Life in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target on the stock.

Globe Life Stock Performance

NYSE GL opened at $122.09 on Friday. The business has a 50 day moving average price of $111.62 and a 200 day moving average price of $105.33. The company has a market capitalization of $10.25 billion, a P/E ratio of 10.33 and a beta of 0.80. 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 has a 1-year low of $38.95 and a 1-year high of $132.00.

Globe Life Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s payout ratio is currently 8.12%.

Insider Activity

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 16,396 shares of the company’s stock, valued at approximately $1,783,884.80. This trade represents a 46.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark A. Blinn sold 3,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the transaction, the director now directly owns 5,122 shares of the company’s stock, valued at approximately $579,964.06. The trade was a 36.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,788 shares of company stock valued at $4,429,779. 1.51% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Globe Life

A number of institutional investors and hedge funds have recently modified their holdings of the stock. UMB Bank n.a. raised its holdings in shares of Globe Life by 7.7% during the third quarter. UMB Bank n.a. now owns 1,357 shares of the company’s stock worth $144,000 after acquiring an additional 97 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of Globe Life by 4.5% during the fourth quarter. Ballentine Partners LLC now owns 2,803 shares of the company’s stock worth $313,000 after acquiring an additional 121 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Globe Life by 4.0% during the third quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company’s stock worth $373,000 after acquiring an additional 136 shares in the last quarter. Fiduciary Trust Co increased its position in Globe Life by 2.3% during the third quarter. Fiduciary Trust Co now owns 6,329 shares of the company’s stock worth $670,000 after buying an additional 144 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in Globe Life by 0.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,923 shares of the company’s stock worth $2,110,000 after buying an additional 144 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.