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

Globe Life Inc. (NYSE:GL) has received an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $152.4545.

GL has been the subject of a number of analyst reports. Morgan Stanley boosted their price objective on Globe Life from $166.00 to $171.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Keefe, Bruyette & Woods boosted their price objective on Globe Life from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, July 28th. BMO Capital Markets reissued a “market perform” rating and set a $149.00 price objective (up from $114.00) on shares of Globe Life in a research report on Wednesday, July 30th. Truist Financial initiated coverage on Globe Life in a research report on Tuesday, July 15th. They set a “buy” rating and a $150.00 price objective for the company. Finally, Wells Fargo & Company boosted their price objective on Globe Life from $144.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th.

Globe Life Stock Performance

Shares of Globe Life stock opened at $134.16 on Thursday. Globe Life has a one year low of $100.27 and a one year high of $147.83. The company has a market cap of $10.87 billion, a PE ratio of 10.72 and a beta of 0.55. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.06 and a current ratio of 0.06. The business has a 50-day simple moving average of $140.58 and a 200-day simple moving average of $128.61.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $3.27 EPS for the quarter, topping analysts’ consensus estimates of $3.25 by $0.02. Globe Life had a return on equity of 21.24% and a net margin of 18.11%.The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the company posted $2.97 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. On average, equities research analysts forecast that Globe Life will post 13.87 EPS for the current fiscal year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, October 3rd. Globe Life’s dividend payout ratio is 8.63%.

Insiders Place Their Bets

In related news, CFO Thomas Peter Kalmbach sold 28,952 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $140.97, for a total value of $4,081,363.44. Following the completion of the transaction, the chief financial officer directly owned 30,665 shares of the company’s stock, valued at $4,322,845.05. This represents a 48.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Frank M. Svoboda sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $141.38, for a total value of $1,767,250.00. Following the completion of the transaction, the chief executive officer directly owned 32,747 shares of the company’s stock, valued at $4,629,770.86. This trade represents a 27.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,722 shares of company stock valued at $11,733,793. 1.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On Globe Life

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GL. Norges Bank acquired a new position in Globe Life in the second quarter valued at approximately $157,722,000. Nuveen LLC purchased a new position in shares of Globe Life during the first quarter worth approximately $131,608,000. AQR Capital Management LLC grew its position in shares of Globe Life by 98.6% during the second quarter. AQR Capital Management LLC now owns 1,402,690 shares of the company’s stock worth $174,340,000 after acquiring an additional 696,548 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. grew its position in shares of Globe Life by 615.9% during the second quarter. Leith Wheeler Investment Counsel Ltd. now owns 656,807 shares of the company’s stock worth $81,635,000 after acquiring an additional 565,061 shares during the last quarter. Finally, Swedbank AB grew its position in shares of Globe Life by 77.0% during the first quarter. Swedbank AB now owns 832,000 shares of the company’s stock worth $109,591,000 after acquiring an additional 362,000 shares during the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

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.