Brokerages Set Globe Life Inc. (NYSE:GL) PT at $108.33

Shares of Globe Life Inc. (NYSE:GL) have been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $108.33.

A number of research firms have recently commented on GL. Raymond James reiterated a “strong-buy” rating on shares of Globe Life in a research note on Tuesday, May 21st. Jefferies Financial Group lifted their price target on Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, June 28th. Morgan Stanley increased their price objective on Globe Life from $66.00 to $83.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Truist Financial boosted their target price on shares of Globe Life from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Company increased their price target on shares of Globe Life from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, July 26th.

Globe Life Price Performance

NYSE GL opened at $105.18 on Wednesday. The company has a 50 day moving average price of $91.39 and a two-hundred day moving average price of $94.15. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00. The stock has a market capitalization of $9.47 billion, a PE ratio of 10.05 and a beta of 0.80. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.31.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the business earned $2.61 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts predict that Globe Life will post 11.92 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.91%. The ex-dividend date is Friday, October 4th. Globe Life’s dividend payout ratio (DPR) is presently 9.17%.

Insider Transactions at Globe Life

In other Globe Life news, Director Mary E. Thigpen bought 3,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average price of $90.20 per share, with a total value of $270,600.00. Following the completion of the purchase, the director now directly owns 15,605 shares in the company, valued at approximately $1,407,571. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.51% of the stock is owned by insiders.

Institutional Trading of Globe Life

Institutional investors have recently bought and sold shares of the stock. Private Wealth Management Group LLC acquired a new position in Globe Life in the fourth quarter valued at about $27,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Globe Life by 177.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock worth $34,000 after acquiring an additional 177 shares in the last quarter. Keener Financial Planning LLC bought a new stake in Globe Life during the 1st quarter worth approximately $49,000. LRI Investments LLC increased its holdings in Globe Life by 898.4% during the 2nd quarter. LRI Investments LLC now owns 619 shares of the company’s stock valued at $51,000 after purchasing an additional 557 shares in the last quarter. Finally, Principal Securities Inc. bought a new position in Globe Life in the 4th quarter valued at $52,000. 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.