Globe Life (NYSE:GL) Receives Strong-Buy Rating from Raymond James

Raymond James reiterated their strong-buy rating on shares of Globe Life (NYSE:GL) in a research report released on Tuesday, Benzinga reports.

GL has been the topic of a number of other reports. Keefe, Bruyette & Woods upgraded shares of Globe Life from a market perform rating to an outperform rating and reduced their price target for the stock from $130.00 to $110.00 in a research report on Wednesday, April 24th. StockNews.com downgraded shares of Globe Life from a buy rating to a hold rating in a research report on Saturday, April 20th. Piper Sandler cut their price objective on shares of Globe Life from $130.00 to $110.00 and set an overweight rating on the stock in a research report on Wednesday, April 24th. JPMorgan Chase & Co. lifted their price objective on shares of Globe Life from $133.00 to $136.00 and gave the company an overweight rating in a research report on Thursday, February 8th. Finally, Wells Fargo & Company cut their price objective on shares of Globe Life from $132.00 to $108.00 and set an overweight rating on the stock in a research report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Globe Life currently has a consensus rating of Moderate Buy and an average price target of $114.33.

Globe Life Trading Up 1.5 %

Globe Life stock opened at $81.74 on Tuesday. The firm’s 50-day moving average is $90.03 and its 200-day moving average is $111.05. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life has a 1 year low of $38.95 and a 1 year high of $132.00. The company has a market cap of $7.54 billion, a P/E ratio of 7.81 and a beta of 0.78.

Globe Life (NYSE:GL) last posted its quarterly earnings results 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). Globe Life had a return on equity of 23.01% and a net margin of 18.07%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the business posted $2.53 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities analysts expect that Globe Life will post 11.72 earnings per share for the current year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be paid a dividend of $0.24 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $0.96 annualized dividend and a yield of 1.17%. Globe Life’s payout ratio is 9.17%.

Insider Buying and Selling at Globe Life

In related news, CEO James Matthew Darden bought 2,000 shares of the stock in a transaction on Thursday, May 16th. The shares were purchased at an average price of $84.82 per share, with a total value of $169,640.00. Following the purchase, the chief executive officer now owns 37,973 shares in the company, valued at $3,220,869.86. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Globe Life news, CEO James Matthew Darden acquired 2,000 shares of the stock in a transaction dated Thursday, May 16th. The shares were bought at an average price of $84.82 per share, with a total value of $169,640.00. Following the purchase, the chief executive officer now directly owns 37,973 shares of the company’s stock, valued at approximately $3,220,869.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Rebecca E. Zorn sold 2,320 shares of Globe Life stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total transaction of $179,336.00. Following the completion of the transaction, the executive vice president now directly owns 10,220 shares in the company, valued at approximately $790,006. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 4,000 shares of company stock valued at $331,435. Company insiders own 1.51% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GL. New Mexico Educational Retirement Board increased its position in shares of Globe Life by 4.5% in the third quarter. New Mexico Educational Retirement Board now owns 4,633 shares of the company’s stock worth $504,000 after acquiring an additional 200 shares in the last quarter. Empirical Finance LLC increased its position in shares of Globe Life by 10.0% in the third quarter. Empirical Finance LLC now owns 3,197 shares of the company’s stock worth $348,000 after acquiring an additional 290 shares in the last quarter. Duality Advisers LP acquired a new stake in shares of Globe Life during the third quarter worth approximately $434,000. NBC Securities Inc. acquired a new stake in shares of Globe Life during the third quarter worth approximately $635,000. Finally, Ieq Capital LLC acquired a new stake in shares of Globe Life during the third quarter worth approximately $241,000. 81.61% of the stock is owned by hedge funds and other institutional investors.

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.