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

Shares of Globe Life Inc. (NYSE:GL) have received an average rating of “Moderate Buy” from the eleven analysts that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $152.00.

Several brokerages have commented on GL. Cfra Research upgraded shares of Globe Life to a “moderate buy” rating in a report on Friday, July 25th. Morgan Stanley upgraded shares of Globe Life from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $135.00 to $166.00 in a report on Tuesday, August 5th. JPMorgan Chase & Co. raised their price objective on shares of Globe Life from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Piper Sandler lowered their target price on shares of Globe Life from $152.00 to $147.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $149.00 target price (up from $114.00) on shares of Globe Life in a report on Wednesday, July 30th.

Insider Activity

In related news, CEO James Matthew Darden sold 33,270 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $135.59, for a total value of $4,511,079.30. Following the completion of the transaction, the chief executive officer directly owned 49,842 shares in the company, valued at $6,758,076.78. The trade was a 40.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Clay Majors sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $137.41, for a total transaction of $1,374,100.00. Following the completion of the transaction, the executive vice president owned 47,066 shares of the company’s stock, valued at approximately $6,467,339.06. The trade was a 17.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 90,741 shares of company stock valued at $12,471,180 in the last quarter. Insiders own 1.97% of the company’s stock.

Institutional Investors Weigh In On Globe Life

A number of large investors have recently added to or reduced their stakes in GL. Bessemer Group Inc. grew its position in Globe Life by 3.8% in the 4th quarter. Bessemer Group Inc. now owns 11,774 shares of the company’s stock worth $1,313,000 after purchasing an additional 430 shares during the period. Treasurer of the State of North Carolina grew its position in Globe Life by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 39,048 shares of the company’s stock worth $4,355,000 after purchasing an additional 250 shares during the period. Barclays PLC grew its position in Globe Life by 16.1% in the 4th quarter. Barclays PLC now owns 287,993 shares of the company’s stock worth $32,116,000 after purchasing an additional 39,846 shares during the period. Mariner LLC grew its position in Globe Life by 9.5% in the 4th quarter. Mariner LLC now owns 31,355 shares of the company’s stock worth $3,497,000 after purchasing an additional 2,733 shares during the period. Finally, Canada Post Corp Registered Pension Plan bought a new stake in Globe Life in the 4th quarter worth approximately $120,000. Institutional investors own 81.61% of the company’s stock.

Globe Life Stock Up 0.4%

NYSE GL opened at $139.63 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.06 and a quick ratio of 0.06. The stock has a market capitalization of $11.31 billion, a PE ratio of 11.16 and a beta of 0.56. Globe Life has a 1 year low of $91.68 and a 1 year high of $144.00. The business’s 50-day moving average is $125.96 and its 200 day moving average is $123.99.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $3.27 EPS for the quarter, topping the consensus estimate of $3.25 by $0.02. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the business posted $2.97 earnings per share. Globe Life’s quarterly revenue was up 2.9% compared to the same quarter last year. Sell-side analysts forecast that Globe Life will post 13.87 earnings per share for the current year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, October 3rd. Globe Life’s payout ratio is presently 8.63%.

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.