Globe Life Inc. (NYSE:GL) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Globe Life Inc. (NYSE:GL) has received a consensus rating of “Moderate Buy” from the eleven brokerages that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $137.73.

A number of analysts have commented on GL shares. Wells Fargo & Company cut their price target on shares of Globe Life from $140.00 to $139.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods increased their price target on shares of Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Piper Sandler cut their price target on shares of Globe Life from $152.00 to $147.00 and set an “overweight” rating for the company in a research note on Friday, May 2nd. Morgan Stanley increased their price target on shares of Globe Life from $117.00 to $125.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. Finally, Wall Street Zen upgraded shares of Globe Life from a “hold” rating to a “buy” rating in a research note on Friday, May 16th.

Insider Transactions at Globe Life

In related news, CEO Frank M. Svoboda sold 6,019 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $122.51, for a total transaction of $737,387.69. Following the transaction, the chief executive officer now directly owns 31,298 shares of the company’s stock, valued at approximately $3,834,317.98. This trade represents a 16.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.51% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Globe Life

Hedge funds have recently bought and sold shares of the business. Rakuten Securities Inc. bought a new position in Globe Life during the fourth quarter worth about $28,000. SouthState Corp bought a new position in Globe Life during the first quarter worth about $43,000. Avalon Trust Co bought a new position in Globe Life during the fourth quarter worth about $41,000. EverSource Wealth Advisors LLC increased its holdings in Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $41,000 after buying an additional 90 shares during the period. Finally, Ransom Advisory Ltd bought a new position in Globe Life in the 1st quarter valued at about $50,000. 81.61% of the stock is owned by institutional investors.

Globe Life Stock Up 0.5%

Globe Life stock opened at $122.86 on Friday. The company has a market cap of $10.14 billion, a P/E ratio of 10.28 and a beta of 0.56. Globe Life has a 1-year low of $76.55 and a 1-year high of $133.76. The company has a fifty day simple moving average of $121.68 and a 200 day simple moving average of $118.75. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $3.07 EPS for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.17). The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.78 EPS. Research analysts anticipate that Globe Life will post 13.87 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life’s dividend payout ratio is presently 8.79%.

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.