Globe Life Inc. (NYSE:GL) Receives $108.33 Average PT from Brokerages

Globe Life Inc. (NYSE:GL) has been assigned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $108.33.

A number of equities research analysts recently weighed in on GL shares. Jefferies Financial Group upped their price objective on Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, June 28th. Morgan Stanley increased their price target on shares of Globe Life from $66.00 to $83.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Truist Financial lifted their price objective on shares of Globe Life from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $118.00 target price (up previously from $110.00) on shares of Globe Life in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company upped their price target on Globe Life from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th.

Insider Activity at Globe Life

In other Globe Life news, Director Mary E. Thigpen purchased 3,000 shares of Globe Life stock in a transaction on Friday, July 26th. The stock was bought at an average cost of $90.20 per share, with a total value of $270,600.00. Following the transaction, the director now owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.51% of the stock is owned by insiders.

Hedge Funds Weigh In On Globe Life

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NBC Securities Inc. raised its position in shares of Globe Life by 2.7% during the 1st quarter. NBC Securities Inc. now owns 5,803 shares of the company’s stock worth $675,000 after purchasing an additional 153 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Globe Life by 0.5% in the first quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock valued at $4,082,000 after acquiring an additional 167 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in shares of Globe Life by 7.6% in the first quarter. Perigon Wealth Management LLC now owns 2,619 shares of the company’s stock worth $305,000 after acquiring an additional 184 shares during the last quarter. Bruce G. Allen Investments LLC boosted its stake in shares of Globe Life by 33.2% in the second quarter. Bruce G. Allen Investments LLC now owns 806 shares of the company’s stock worth $66,000 after acquiring an additional 201 shares during the last quarter. Finally, Quarry LP increased its position in shares of Globe Life by 47.5% during the second quarter. Quarry LP now owns 838 shares of the company’s stock worth $69,000 after purchasing an additional 270 shares in the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Trading Down 4.7 %

NYSE:GL opened at $104.40 on Friday. The firm has a 50-day simple moving average of $98.97 and a 200-day simple moving average of $91.72. Globe Life has a one year low of $38.95 and a one year high of $132.00. The firm has a market cap of $9.38 billion, a P/E ratio of 9.97 and a beta of 0.81. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. Globe Life’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.61 earnings per share. Equities analysts anticipate that Globe Life will post 11.93 EPS for the current fiscal year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, October 4th. This represents a $0.96 annualized dividend and a dividend yield of 0.92%. Globe Life’s payout ratio is currently 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.