Jefferies Financial Group Weighs in on Globe Life Inc.’s FY2022 Earnings (NYSE:GL)

Globe Life Inc. (NYSE:GLGet Rating) – Research analysts at Jefferies Financial Group raised their FY2022 EPS estimates for shares of Globe Life in a research report issued on Monday, November 21st. Jefferies Financial Group analyst D. Bergman now expects that the company will post earnings per share of $8.05 for the year, up from their prior forecast of $8.00. Jefferies Financial Group also issued estimates for Globe Life’s FY2024 earnings at $10.20 EPS, FY2025 earnings at $11.10 EPS and FY2026 earnings at $12.10 EPS.

Several other equities research analysts have also commented on GL. Truist Financial boosted their target price on shares of Globe Life from $100.00 to $112.00 and gave the stock a “hold” rating in a research report on Friday, October 28th. StockNews.com began coverage on shares of Globe Life in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Raymond James began coverage on shares of Globe Life in a research report on Wednesday, September 21st. They set a “strong-buy” rating and a $138.00 target price on the stock. Morgan Stanley lifted their price target on Globe Life from $112.00 to $115.00 and gave the stock an “underweight” rating in a research note on Thursday, November 17th. Finally, Piper Sandler lifted their price target on Globe Life to $127.00 in a research note on Tuesday, November 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Globe Life currently has a consensus rating of “Hold” and an average price target of $113.38.

Globe Life Stock Performance

NYSE:GL opened at $116.77 on Wednesday. The firm’s fifty day moving average price is $109.11 and its 200 day moving average price is $102.02. Globe Life has a 1-year low of $85.25 and a 1-year high of $117.31. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market cap of $11.36 billion, a price-to-earnings ratio of 16.47 and a beta of 0.85.

Institutional Investors Weigh In On Globe Life

Several institutional investors and hedge funds have recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Globe Life during the 3rd quarter valued at approximately $4,239,000. Glenmede Trust Co. NA acquired a new stake in Globe Life in the third quarter worth $298,000. Kentucky Retirement Systems Insurance Trust Fund increased its position in Globe Life by 4.8% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 3,247 shares of the company’s stock worth $324,000 after buying an additional 148 shares during the period. Kentucky Retirement Systems increased its position in Globe Life by 5.3% in the third quarter. Kentucky Retirement Systems now owns 7,093 shares of the company’s stock worth $707,000 after buying an additional 360 shares during the period. Finally, Ascent Group LLC increased its position in Globe Life by 15.8% in the third quarter. Ascent Group LLC now owns 3,321 shares of the company’s stock worth $384,000 after buying an additional 454 shares during the period. 81.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Globe Life

In other Globe Life news, insider Jason A. Harvey sold 2,013 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $103.19, for a total value of $207,721.47. Following the transaction, the insider now directly owns 460 shares of the company’s stock, valued at approximately $47,467.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Globe Life news, insider Jason A. Harvey sold 2,013 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $103.19, for a total value of $207,721.47. Following the transaction, the insider now directly owns 460 shares of the company’s stock, valued at approximately $47,467.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Steven John Dichiaro sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $115.13, for a total value of $1,151,300.00. Following the sale, the insider now directly owns 8,372 shares in the company, valued at $963,868.36. The disclosure for this sale can be found here. Insiders have sold a total of 89,511 shares of company stock valued at $10,075,219 in the last three months. Corporate insiders own 4.62% of the company’s stock.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th were given a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Thursday, October 6th. Globe Life’s payout ratio is 11.71%.

About Globe Life

(Get Rating)

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.

Further Reading

Earnings History and Estimates for Globe Life (NYSE:GL)

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