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

Globe Life Inc. (NYSE:GL) has received an average recommendation of “Moderate Buy” from the ten analysts that are covering the company, MarketBeat Ratings reports. Four 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 1-year price target among brokers that have issued ratings on the stock in the last year is $127.10.

A number of research analysts have weighed in on the company. Raymond James increased their target price on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th. Wells Fargo & Company boosted their target price on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods increased their price target on shares of Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. TD Cowen initiated coverage on Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective for the company. Finally, Morgan Stanley boosted their price target on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th.

Globe Life Trading Down 0.7 %

Shares of NYSE GL opened at $111.51 on Tuesday. The company has a market cap of $9.36 billion, a PE ratio of 9.43 and a beta of 0.81. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The firm’s 50 day moving average price is $108.37 and its 200-day moving average price is $101.04. Globe Life has a 52-week low of $38.95 and a 52-week high of $132.00.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the company earned $2.71 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts expect that Globe Life will post 12.31 EPS for the current fiscal year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be issued a $0.24 dividend. The ex-dividend date is Monday, January 6th. This represents a $0.96 annualized dividend and a dividend yield of 0.86%. Globe Life’s dividend payout ratio is currently 8.12%.

Insider Activity at Globe Life

In other news, CEO Frank M. Svoboda sold 14,340 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total value of $1,560,192.00. Following the sale, the chief executive officer now directly owns 16,396 shares in the company, valued at approximately $1,783,884.80. This trade represents a 46.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Globe Life

Several institutional investors have recently bought and sold shares of GL. Versant Capital Management Inc increased its holdings in shares of Globe Life by 388.0% during the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after acquiring an additional 194 shares in the last quarter. Riverview Trust Co acquired a new position in Globe Life during the 3rd quarter valued at approximately $32,000. True Wealth Design LLC acquired a new stake in shares of Globe Life during the third quarter worth $59,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Globe Life by 88.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after buying an additional 281 shares during the last quarter. Finally, Private Trust Co. NA increased its position in shares of Globe Life by 67.5% in the 3rd quarter. Private Trust Co. NA now owns 670 shares of the company’s stock valued at $71,000 after acquiring an additional 270 shares during the period. 81.61% of the stock is currently owned by institutional investors and hedge funds.

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.