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

Shares of Globe Life Inc. (NYSE:GL) have been assigned an average rating of “Moderate Buy” from the ten analysts that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $117.40.

A number of analysts have commented on the stock. Truist Financial upped their target price on shares of Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a report on Friday, July 26th. TD Cowen began coverage on shares of Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective for the company. Keefe, Bruyette & Woods reiterated 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. Jefferies Financial Group upped their price target on Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, June 28th. Finally, Raymond James boosted their target price on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 15th.

Insider Transactions at Globe Life

In related news, Director Mary E. Thigpen purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were bought at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the acquisition, the director now owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.51% of the company’s stock.

Institutional Investors Weigh In On Globe Life

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Nordea Investment Management AB boosted its stake in shares of Globe Life by 10,526.9% during the 1st quarter. Nordea Investment Management AB now owns 998,717 shares of the company’s stock worth $116,061,000 after purchasing an additional 989,319 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in Globe Life by 398.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company’s stock worth $88,420,000 after purchasing an additional 859,146 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Globe Life by 104.3% during the second quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company’s stock valued at $132,577,000 after buying an additional 822,638 shares during the period. Millennium Management LLC grew its stake in shares of Globe Life by 177.0% during the second quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock valued at $105,303,000 after buying an additional 817,760 shares during the last quarter. Finally, Pzena Investment Management LLC grew its stake in shares of Globe Life by 146.3% during the second quarter. Pzena Investment Management LLC now owns 930,378 shares of the company’s stock valued at $76,552,000 after buying an additional 552,634 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Stock Up 0.4 %

GL stock opened at $110.19 on Thursday. Globe Life has a 1-year low of $38.95 and a 1-year high of $132.00. The stock has a market cap of $9.92 billion, a price-to-earnings ratio of 10.52 and a beta of 0.81. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.31. The company’s 50 day moving average is $103.87 and its 200 day moving average is $90.61.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. Globe Life’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.61 EPS. Sell-side analysts predict 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 $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Friday, October 4th. 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.