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

Globe Life Inc. (NYSE:GL) has received a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the company, 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 12 month price objective among brokers that have covered the stock in the last year is $127.10.

A number of research firms have weighed in on GL. TD Cowen assumed coverage on shares of Globe Life in a research report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective for the company. 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 note on Tuesday, October 15th. Morgan Stanley upped their target price on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Truist Financial raised their price target on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Finally, Wells Fargo & Company lifted their price target on shares of Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th.

Insider Transactions at Globe Life

In related news, CEO Frank M. Svoboda sold 14,340 shares of the company’s 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 in the company, valued at $1,783,884.80. This represents a 46.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.51% of the company’s stock.

Hedge Funds Weigh In On Globe Life

Several hedge funds and other institutional investors have recently modified their holdings of GL. Versant Capital Management Inc increased its holdings in shares of Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after acquiring an additional 194 shares during the period. Riverview Trust Co acquired a new stake in shares of Globe Life in the third quarter valued at approximately $32,000. Benjamin F. Edwards & Company Inc. raised 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. True Wealth Design LLC acquired a new position in shares of Globe Life during the third quarter worth approximately $59,000. Finally, Quarry LP boosted its position in shares of Globe Life by 47.5% during the second quarter. Quarry LP now owns 838 shares of the company’s stock worth $69,000 after buying an additional 270 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Stock Performance

Globe Life stock opened at $111.00 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life has a one year low of $38.95 and a one year high of $132.00. The stock’s 50 day moving average price is $108.48 and its 200 day moving average price is $101.39. The firm has a market capitalization of $9.32 billion, a PE ratio of 9.39 and a beta of 0.80.

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. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.71 earnings per share. As a group, sell-side analysts expect that Globe Life will post 12.31 EPS for the current fiscal year.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.86%. Globe Life’s dividend payout ratio (DPR) is 8.12%.

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.