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

Globe Life Inc. (NYSE:GL) has been given an average recommendation of “Moderate Buy” by the eleven brokerages that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $137.55.

A number of equities analysts have commented on GL shares. Wells Fargo & Company decreased their target price on Globe Life from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. BMO Capital Markets started coverage on Globe Life in a research report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price objective for the company. Keefe, Bruyette & Woods increased their target price on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Piper Sandler boosted their price target on shares of Globe Life from $140.00 to $152.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Finally, Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th.

Insiders Place Their Bets

In other news, CEO James Matthew Darden sold 24,890 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the completion of the sale, the chief executive officer now owns 38,973 shares in the company, valued at approximately $4,735,998.96. This represents a 38.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frank M. Svoboda sold 11,000 shares of Globe Life stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $122.31, for a total value of $1,345,410.00. Following the completion of the transaction, the chief executive officer now owns 18,948 shares in the company, valued at $2,317,529.88. The trade was a 36.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Globe Life

Several hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in Globe Life during the fourth quarter valued at about $61,238,000. Principal Financial Group Inc. raised its holdings in shares of Globe Life by 9.0% during the third quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock valued at $11,154,000 after acquiring an additional 8,663 shares during the period. Merit Financial Group LLC acquired a new stake in shares of Globe Life during the fourth quarter valued at approximately $487,000. Prudential Financial Inc. lifted its position in shares of Globe Life by 50.0% in the 4th quarter. Prudential Financial Inc. now owns 82,749 shares of the company’s stock valued at $9,069,000 after acquiring an additional 27,590 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake in Globe Life by 61.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,665 shares of the company’s stock worth $2,751,000 after purchasing an additional 9,395 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Trading Up 1.4 %

Shares of NYSE GL opened at $121.16 on Thursday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock’s 50 day moving average price is $124.26 and its two-hundred day moving average price is $115.37. Globe Life has a 52-week low of $54.66 and a 52-week high of $133.76. The stock has a market capitalization of $10.09 billion, a P/E ratio of 10.14 and a beta of 0.60.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, topping analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. On average, analysts anticipate that Globe Life will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be issued a dividend of $0.27 per share. This is a boost from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.08 annualized dividend and a yield of 0.89%. Globe Life’s payout ratio is presently 9.04%.

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.