Analysts Set Globe Life Inc. (NYSE:GL) Target Price at $127.10

Shares of Globe Life Inc. (NYSE:GL) have been given an average rating of “Moderate Buy” by the ten ratings firms that are covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $127.10.

A number of research firms have commented on GL. Raymond James boosted their price target on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company upped their target price on shares of Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. TD Cowen assumed coverage on Globe Life in a research report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price target on the stock. Jefferies Financial Group upped their price objective on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Finally, Piper Sandler raised their price objective on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th.

Insiders Place Their Bets

In other news, CEO Frank M. Svoboda sold 14,340 shares of Globe Life stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the sale, the chief executive officer now directly owns 16,396 shares in the company, valued at approximately $1,783,884.80. This trade represents a 46.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.51% of the company’s stock.

Hedge Funds Weigh In On Globe Life

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp boosted its position in shares of Globe Life by 3.4% during the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after purchasing an additional 115,432 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Globe Life by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock valued at $276,994,000 after buying an additional 89,299 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Globe Life by 22.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock worth $160,949,000 after buying an additional 277,108 shares during the period. Millennium Management LLC increased its stake in shares of Globe Life by 177.0% in the 2nd quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock worth $105,303,000 after acquiring an additional 817,760 shares in the last quarter. Finally, Nuance Investments LLC increased its stake in shares of Globe Life by 155.6% in the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock worth $120,629,000 after acquiring an additional 693,346 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.

Globe Life Trading Down 0.7 %

Shares of GL stock opened at $111.51 on Tuesday. The company has a market capitalization of $9.36 billion, a PE ratio of 9.43 and a beta of 0.81. Globe Life has a 52-week low of $38.95 and a 52-week high of $132.00. The business’s fifty day moving average is $108.37 and its 200 day moving average is $101.04. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.43. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the firm posted $2.71 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts anticipate that Globe Life will post 12.31 EPS for the current fiscal year.

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.86%. Globe Life’s dividend payout ratio is currently 8.12%.

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.