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

Shares of Globe Life Inc. (NYSE:GL) have received a consensus rating of “Moderate Buy” from the nine research firms that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given 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 $106.33.

A number of equities research analysts have issued reports on the company. Morgan Stanley raised their target price on Globe Life from $62.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 10th. Truist Financial lifted their price objective on shares of Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Wells Fargo & Company upped their target price on shares of Globe Life from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Evercore ISI lifted their price target on Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a report on Wednesday, June 26th. Finally, Piper Sandler increased their price objective on Globe Life from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Friday, July 26th.

Globe Life Stock Performance

Shares of NYSE:GL traded up $0.71 during trading on Friday, reaching $92.02. 851,677 shares of the company’s stock traded hands, compared to its average volume of 1,875,544. The stock has a market capitalization of $8.29 billion, a P/E ratio of 8.79 and a beta of 0.80. Globe Life has a 12 month low of $38.95 and a 12 month high of $132.00. The company has a 50 day moving average of $85.24 and a 200-day moving average of $97.38. 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 (NYSE:GL) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Globe Life had a return on equity of 22.53% and a net margin of 18.47%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.61 EPS. On average, equities analysts expect that Globe Life will post 11.92 EPS for the current year.

Globe Life Announces Dividend

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

Insider Activity

In related news, EVP Robert Edward Hensley purchased 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average price of $82.17 per share, for a total transaction of $205,425.00. Following the transaction, the executive vice president now directly owns 7,290 shares of the company’s stock, valued at approximately $599,019.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Globe Life news, CFO Thomas Peter Kalmbach purchased 500 shares of the 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 completion of the acquisition, the chief financial officer now owns 18,080 shares of the company’s stock, valued at approximately $1,526,494.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert Edward Hensley bought 2,500 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was acquired at an average price of $82.17 per share, for a total transaction of $205,425.00. Following the acquisition, the executive vice president now directly owns 7,290 shares in the company, valued at $599,019.30. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 8,000 shares of company stock worth $687,880. Corporate insiders own 1.51% of the company’s stock.

Institutional Trading of Globe Life

Institutional investors have recently made changes to their positions in the stock. Private Wealth Management Group LLC acquired a new position in Globe Life in the 4th quarter worth about $27,000. Private Trust Co. NA increased its holdings in Globe Life by 270.0% in the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after buying an additional 162 shares during the last quarter. Lindbrook Capital LLC increased its holdings in Globe Life by 62.2% in the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after buying an additional 92 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Globe Life by 177.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock valued at $34,000 after acquiring an additional 177 shares in the last quarter. Finally, Keener Financial Planning LLC acquired a new stake in Globe Life in the first quarter valued at approximately $49,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

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.