Globe Life Inc. (NYSE:GL) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Globe Life Inc. (NYSE:GL) have been given an average recommendation of “Moderate Buy” by the nine brokerages that are currently covering the company, Marketbeat 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 twelve-month price objective among brokers that have covered the stock in the last year is $108.33.

A number of equities analysts have recently commented on the stock. Truist Financial raised their target price on shares of Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Jefferies Financial Group boosted 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. Raymond James reiterated a “strong-buy” rating on shares of Globe Life in a report on Tuesday, May 21st. Morgan Stanley upped their price target on Globe Life from $66.00 to $83.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Finally, Piper Sandler increased their price objective on shares of Globe Life from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Friday, July 26th.

Globe Life Trading Up 0.1 %

GL stock opened at $105.18 on Wednesday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.31. The company has a market cap of $9.47 billion, a price-to-earnings ratio of 10.05 and a beta of 0.80. The business has a fifty day simple moving average of $91.39 and a 200-day simple moving average of $94.15. Globe Life has a 52 week low of $38.95 and a 52 week high of $132.00.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.61 earnings per share. On average, equities research analysts expect that Globe Life will post 11.92 EPS for the current year.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Friday, October 4th. Globe Life’s dividend payout ratio is currently 9.17%.

Insider Transactions at Globe Life

In other news, Director Mary E. Thigpen acquired 3,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were purchased at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the completion of the purchase, the director now directly 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 the SEC website. Insiders own 1.51% of the company’s stock.

Institutional Trading of Globe Life

Several institutional investors have recently added to or reduced their stakes in the business. Truist Financial Corp boosted its stake in Globe Life by 80.5% in the second quarter. Truist Financial Corp now owns 290,030 shares of the company’s stock valued at $23,864,000 after acquiring an additional 129,307 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Globe Life in the 2nd quarter worth approximately $389,000. Quarry LP boosted its position in Globe Life by 47.5% during the 2nd quarter. Quarry LP now owns 838 shares of the company’s stock valued at $69,000 after purchasing an additional 270 shares during the period. Creative Planning grew its stake in Globe Life by 14.3% during the 2nd quarter. Creative Planning now owns 22,585 shares of the company’s stock worth $1,858,000 after buying an additional 2,827 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in Globe Life in the second quarter worth $6,678,000. Institutional investors own 81.61% of the company’s stock.

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.