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

Globe Life Inc. (NYSE:GL) has been given a consensus rating of “Moderate Buy” by the nine analysts that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $104.22.

Several research analysts have commented on the stock. Morgan Stanley upped their price objective on shares of Globe Life from $62.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. Keefe, Bruyette & Woods upgraded Globe Life from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $130.00 to $110.00 in a report on Wednesday, April 24th. Piper Sandler lowered their target price on Globe Life from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, June 28th. Raymond James reaffirmed a “strong-buy” rating on shares of Globe Life in a research note on Tuesday, May 21st. Finally, Jefferies Financial Group raised their price objective on Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, June 28th.

Insider Activity

In other Globe Life news, Director David A. Rodriguez bought 1,500 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was acquired at an average price of $79.72 per share, with a total value of $119,580.00. Following the transaction, the director now owns 4,192 shares in the company, valued at $334,186.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Thomas Peter Kalmbach acquired 500 shares of Globe Life stock in a transaction that occurred on Friday, May 17th. The stock was bought at an average price of $84.43 per share, for a total transaction of $42,215.00. Following the completion of the transaction, the chief financial officer now owns 18,080 shares in the company, valued at $1,526,494.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David A. Rodriguez bought 1,500 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was purchased at an average cost of $79.72 per share, for a total transaction of $119,580.00. Following the completion of the transaction, the director now directly owns 4,192 shares of the company’s stock, valued at approximately $334,186.24. The disclosure for this purchase can be found here. Insiders have acquired a total of 6,500 shares of company stock valued at $536,860 over the last ninety days. 1.51% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Globe Life

Several institutional investors have recently made changes to their positions in GL. Graham Capital Management L.P. raised its position in Globe Life by 297.4% in the third quarter. Graham Capital Management L.P. now owns 42,905 shares of the company’s stock worth $4,665,000 after acquiring an additional 32,108 shares during the period. Public Sector Pension Investment Board raised its holdings in Globe Life by 4.1% in the 3rd quarter. Public Sector Pension Investment Board now owns 20,613 shares of the company’s stock worth $2,241,000 after purchasing an additional 804 shares during the period. Deutsche Bank AG lifted its position in Globe Life by 14.5% during the third quarter. Deutsche Bank AG now owns 228,634 shares of the company’s stock valued at $24,859,000 after purchasing an additional 29,002 shares in the last quarter. American Century Companies Inc. grew its holdings in Globe Life by 9.8% during the third quarter. American Century Companies Inc. now owns 46,600 shares of the company’s stock valued at $5,067,000 after purchasing an additional 4,157 shares during the period. Finally, Vanguard Group Inc. increased its position in Globe Life by 1.7% in the third quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock worth $1,183,175,000 after buying an additional 181,824 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.

Globe Life Stock Performance

Shares of NYSE:GL opened at $86.81 on Tuesday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $83.18 and a 200-day moving average price of $101.18. The company has a market cap of $7.82 billion, a price-to-earnings ratio of 8.29 and a beta of 0.81. Globe Life has a 12 month low of $38.95 and a 12 month high of $132.00.

Globe Life (NYSE:GL) last released its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $1.42 billion. During the same quarter last year, the business posted $2.53 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts anticipate that Globe Life will post 11.75 EPS for the current year.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Friday, July 5th. Globe Life’s payout ratio is 9.17%.

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.