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

Shares of Globe Life Inc. (NYSE:GL) have been given an average rating of “Moderate Buy” by the ten brokerages that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $133.10.

Several equities analysts have recently commented on GL shares. Keefe, Bruyette & Woods raised their price target on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Morgan Stanley raised their price objective on Globe Life from $123.00 to $125.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. Piper Sandler raised their price objective on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Jefferies Financial Group raised their price objective on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th.

Globe Life Stock Performance

Shares of Globe Life stock opened at $123.86 on Wednesday. The firm has a market cap of $10.40 billion, a P/E ratio of 10.36 and a beta of 0.81. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life has a 12 month low of $38.95 and a 12 month high of $132.00. The stock’s fifty day moving average price is $115.42 and its 200-day moving average price is $108.62.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, beating the consensus estimate of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. On average, equities research analysts expect that Globe Life will post 13.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO James Matthew Darden sold 24,890 shares of Globe Life stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the completion of the sale, the chief executive officer now owns 38,973 shares of the company’s stock, valued at $4,735,998.96. The trade was a 38.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Frank M. Svoboda sold 13,448 shares of Globe Life stock in a transaction dated 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 sale, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at $2,132,786.88. This trade represents a 41.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,678 shares of company stock valued at $8,799,822. 1.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Globe Life

A number of institutional investors and hedge funds have recently modified their holdings of GL. Norges Bank purchased a new position in Globe Life during the fourth quarter valued at approximately $112,454,000. Nuance Investments LLC raised its position in Globe Life by 155.6% during the third quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock valued at $120,629,000 after acquiring an additional 693,346 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Globe Life during the fourth quarter valued at approximately $61,238,000. Swedbank AB purchased a new position in Globe Life during the fourth quarter valued at approximately $52,414,000. Finally, Freestone Grove Partners LP purchased a new position in Globe Life during the fourth quarter valued at approximately $52,178,000. Institutional investors and hedge funds 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.