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

Shares of Globe Life Inc. (NYSE:GL) have been assigned an average rating of “Moderate Buy” from the nine research firms that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $114.33.

GL has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Truist Financial cut their target price on Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. Piper Sandler decreased their price target on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. Wells Fargo & Company cut their price target on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods raised shares of Globe Life from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $130.00 to $110.00 in a report on Wednesday, April 24th.

Globe Life Stock Performance

Shares of NYSE:GL opened at $78.19 on Thursday. The company has a market cap of $7.35 billion, a P/E ratio of 7.47 and a beta of 0.69. Globe Life has a one year low of $38.95 and a one year high of $132.00. The business’s 50-day simple moving average is $105.71 and its 200 day simple moving average is $115.07. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.53 EPS. On average, sell-side analysts forecast that Globe Life will post 11.73 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given a $0.24 dividend. This is an increase from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Thursday, April 4th. Globe Life’s dividend payout ratio (DPR) is presently 9.17%.

Insider Activity

In related news, EVP Rebecca E. Zorn sold 2,320 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $77.30, for a total transaction of $179,336.00. Following the sale, the executive vice president now owns 10,220 shares in the company, valued at $790,006. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Globe Life news, EVP Rebecca E. Zorn sold 2,320 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the sale, the executive vice president now directly owns 10,220 shares of the company’s stock, valued at $790,006. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David A. Rodriguez purchased 1,500 shares of Globe Life stock in a transaction dated Wednesday, April 24th. The shares were purchased at an average cost of $79.72 per share, with a total value of $119,580.00. Following the acquisition, the director now owns 4,192 shares of the company’s stock, valued at approximately $334,186.24. The disclosure for this purchase can be found here. Company insiders own 1.51% of the company’s stock.

Institutional Investors Weigh In On Globe Life

A number of hedge funds have recently made changes to their positions in GL. Private Trust Co. NA grew its holdings in Globe Life by 270.0% in the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after buying an additional 162 shares in the last quarter. Private Wealth Management Group LLC acquired a new position in shares of Globe Life during the fourth quarter valued at $27,000. BKM Wealth Management LLC bought a new stake in shares of Globe Life during the fourth quarter valued at about $28,000. Lindbrook Capital LLC lifted its holdings in Globe Life by 62.2% in the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after purchasing an additional 92 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its position in Globe Life by 177.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock valued at $34,000 after buying an additional 177 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.

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.