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

Shares of Globe Life Inc. (NYSE:GL) have been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $134.25.

Several brokerages have recently commented on GL. Jefferies Financial Group increased their price objective on Globe Life from $115.00 to $118.00 and gave the company a “hold” rating in a research report on Thursday, September 14th. JPMorgan Chase & Co. increased their price objective on Globe Life from $131.00 to $132.00 and gave the company an “overweight” rating in a research report on Friday, October 6th. Wells Fargo & Company upgraded Globe Life from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $122.00 to $137.00 in a research report on Tuesday. Piper Sandler increased their price objective on Globe Life from $130.00 to $131.00 in a research report on Friday, July 28th. Finally, Morgan Stanley upgraded Globe Life from an “underweight” rating to an “equal weight” rating and set a $131.00 price objective on the stock in a research report on Friday, August 18th.

Insider Buying and Selling

In other Globe Life news, CAO Michael Shane Henrie sold 2,500 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $113.05, for a total value of $282,625.00. Following the completion of the sale, the chief accounting officer now owns 700 shares in the company, valued at approximately $79,135. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Globe Life news, CAO Michael Shane Henrie sold 2,500 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $113.05, for a total value of $282,625.00. Following the completion of the sale, the chief accounting officer now owns 700 shares in the company, valued at approximately $79,135. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Frank M. Svoboda sold 12,500 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $113.57, for a total value of $1,419,625.00. Following the completion of the sale, the chief executive officer now owns 3,370 shares of the company’s stock, valued at approximately $382,730.90. The disclosure for this sale can be found here. Insiders have sold a total of 35,042 shares of company stock worth $3,941,332 in the last ninety days. 4.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GL. Mendota Financial Group LLC purchased a new position in shares of Globe Life in the 1st quarter valued at approximately $29,000. Sunbelt Securities Inc. purchased a new position in shares of Globe Life in the 1st quarter valued at approximately $29,000. Lindbrook Capital LLC lifted its stake in shares of Globe Life by 56.0% in the 1st quarter. Lindbrook Capital LLC now owns 273 shares of the company’s stock valued at $30,000 after purchasing an additional 98 shares during the period. Allworth Financial LP increased its position in Globe Life by 144.7% during the 2nd quarter. Allworth Financial LP now owns 301 shares of the company’s stock valued at $33,000 after buying an additional 178 shares in the last quarter. Finally, AM Squared Ltd bought a new position in Globe Life during the 1st quarter valued at approximately $44,000. Hedge funds and other institutional investors own 80.04% of the company’s stock.

Globe Life Price Performance

Shares of NYSE GL opened at $116.38 on Thursday. The firm has a market capitalization of $11.02 billion, a P/E ratio of 12.46 and a beta of 0.78. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.45. The stock’s 50-day simple moving average is $111.42 and its two-hundred day simple moving average is $110.16. Globe Life has a twelve month low of $102.23 and a twelve month high of $123.85.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, October 25th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.06. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.39 billion. Globe Life had a return on equity of 23.11% and a net margin of 16.95%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.15 EPS. As a group, equities analysts anticipate that Globe Life will post 10.58 EPS for the current fiscal year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Friday, October 6th were given a dividend of $0.225 per share. The ex-dividend date was Thursday, October 5th. This represents a $0.90 annualized dividend and a yield of 0.77%. Globe Life’s payout ratio is 9.64%.

About Globe Life

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.