Brokerages Set Globe Life Inc. (NYSE:GL) PT at $191.67

Shares of Globe Life Inc. (NYSE:GL) have been given a consensus recommendation of “Moderate Buy” by the eleven analysts that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $191.6667.

A number of research analysts recently weighed in on GL shares. Weiss Ratings raised Globe Life from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, September 18th. JPMorgan Chase & Co. raised their target price on Globe Life from $181.00 to $201.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. Wells Fargo & Company boosted their target price on shares of Globe Life from $172.00 to $193.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods lowered their price target on shares of Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock in a research note on Friday, July 24th. Finally, TD Cowen increased their price target on shares of Globe Life from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd.

Globe Life Price Performance

Shares of NYSE:GL opened at $168.82 on Thursday. Globe Life has a 52 week low of $127.85 and a 52 week high of $191.55. The company has a 50-day moving average price of $176.65 and a 200 day moving average price of $163.20. The company has a market cap of $12.97 billion, a P/E ratio of 11.21 and a beta of 0.46. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.43.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, July 22nd. The company reported $3.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.67 by ($0.06). The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. Globe Life had a return on equity of 20.52% and a net margin of 19.58%.The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.05 EPS. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Research analysts predict that Globe Life will post 15.71 earnings per share for the current year.

Globe Life declared that its Board of Directors has initiated a share buyback plan on Monday, August 10th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the company to repurchase up to 17.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Monday, October 5th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, October 5th. Globe Life’s dividend payout ratio is presently 8.76%.

Insider Activity at Globe Life

In other news, EVP Michael Majors sold 37,000 shares of Globe Life stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $178.64, for a total transaction of $6,609,680.00. Following the completion of the sale, the executive vice president directly owned 53,518 shares in the company, valued at approximately $9,560,455.52. This trade represents a 40.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas Kalmbach sold 21,000 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $180.06, for a total value of $3,781,260.00. Following the sale, the chief financial officer directly owned 50,568 shares in the company, valued at $9,105,274.08. This trade represents a 29.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 143,650 shares of company stock valued at $25,793,717 in the last 90 days. Insiders own 2.11% of the company’s stock.

Institutional Trading of Globe Life

Several large investors have recently bought and sold shares of GL. QRG Capital Management Inc. increased its position in shares of Globe Life by 16.7% in the second quarter. QRG Capital Management Inc. now owns 7,790 shares of the company’s stock valued at $1,392,000 after buying an additional 1,113 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Globe Life by 3.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 130,419 shares of the company’s stock worth $23,303,000 after buying an additional 4,201 shares in the last quarter. State Street Corp boosted its position in shares of Globe Life by 2.1% in the 2nd quarter. State Street Corp now owns 3,735,409 shares of the company’s stock worth $667,443,000 after buying an additional 76,745 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Globe Life by 1.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 57,927 shares of the company’s stock valued at $10,350,000 after acquiring an additional 553 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in Globe Life by 7.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 29,470 shares of the company’s stock valued at $5,266,000 after acquiring an additional 1,973 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

About Globe Life

Globe Life Inc is an insurance holding company headquartered in McKinney, Texas. Through its subsidiaries, the company markets and distributes individual life insurance and supplemental health insurance products to middle-income households and other consumer segments.

Its product offerings include term and whole life insurance, mortgage protection and final expense coverage, accident and supplemental health insurance, Medicare supplement policies, and annuity products. Globe Life distributes these products through multiple channels, including direct-to-consumer marketing, agency networks, and independent agents.

The company’s principal insurance businesses include Globe Life and Accident Insurance Company, American Income Life Insurance Company, Liberty National Life Insurance Company, United American Insurance Company, and Family Heritage Life Insurance Company of America.