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

Globe Life Inc. (NYSE:GL) has been assigned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, Marketbeat.com reports. Four equities research 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. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $106.33.

Several research analysts have commented on the company. Evercore ISI raised their price objective on Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a report on Wednesday, June 26th. Truist Financial upped their price objective on shares of Globe Life from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Morgan Stanley raised their target price on shares of Globe Life from $62.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 10th. Jefferies Financial Group upped their price target on shares of Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, June 28th. Finally, Piper Sandler boosted their price objective on shares of Globe Life from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th.

Insider Activity

In other news, Director Mary E. Thigpen acquired 3,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was acquired at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the completion of the transaction, the director now owns 15,605 shares in the company, valued at approximately $1,407,571. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Globe Life news, Director Mary E. Thigpen bought 3,000 shares of Globe Life stock in a transaction dated Friday, July 26th. The stock was acquired at an average cost of $90.20 per share, with a total value of $270,600.00. Following the purchase, the director now directly owns 15,605 shares in the company, valued at approximately $1,407,571. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CFO Thomas Peter Kalmbach bought 500 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were acquired at an average price of $84.43 per share, for a total transaction of $42,215.00. Following the transaction, the chief financial officer now directly owns 18,080 shares in the company, valued at $1,526,494.40. The disclosure for this purchase can be found here. Insiders bought a total of 8,000 shares of company stock valued at $687,880 in the last three months. 1.51% of the stock is currently owned by corporate insiders.

Institutional Trading of Globe Life

A number of institutional investors have recently made changes to their positions in GL. Vanguard Group Inc. grew its stake in Globe Life by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock valued at $1,309,755,000 after acquiring an additional 425,993 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Globe Life by 7.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,607 shares of the company’s stock valued at $11,824,000 after purchasing an additional 7,100 shares in the last quarter. Retirement Systems of Alabama purchased a new stake in shares of Globe Life in the fourth quarter valued at approximately $2,297,000. Quadrature Capital Ltd lifted its position in Globe Life by 69.2% during the fourth quarter. Quadrature Capital Ltd now owns 38,785 shares of the company’s stock worth $4,724,000 after buying an additional 15,862 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in Globe Life by 5.2% during the fourth quarter. Arizona State Retirement System now owns 26,061 shares of the company’s stock worth $3,172,000 after buying an additional 1,295 shares during the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Globe Life Price Performance

Shares of Globe Life stock traded up $0.71 during trading hours on Friday, reaching $92.02. The company’s stock had a trading volume of 851,677 shares, compared to its average volume of 1,875,544. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life has a one year low of $38.95 and a one year high of $132.00. The firm has a 50 day moving average price of $85.24 and a 200-day moving average price of $97.38. The stock has a market cap of $8.29 billion, a P/E ratio of 8.79 and a beta of 0.80.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.07. Globe Life had a net margin of 18.47% and a return on equity of 22.53%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the firm earned $2.61 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, analysts predict that Globe Life will post 11.92 EPS for the current year.

Globe Life Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.04%. Globe Life’s payout ratio is presently 9.17%.

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.