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

Globe Life Inc. (NYSE:GLGet Free Report) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $133.00.

Several equities research analysts have commented on the stock. StockNews.com lowered shares of Globe Life from a “buy” rating to a “hold” rating in a research note on Wednesday. Truist Financial raised their price target on shares of Globe Life from $115.00 to $125.00 and gave the company a “hold” rating in a research note on Friday, February 9th. Evercore ISI decreased their price objective on shares of Globe Life from $138.00 to $125.00 and set an “in-line” rating for the company in a report on Thursday, March 14th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, February 8th.

Check Out Our Latest Report on Globe Life

Globe Life Stock Performance

Shares of GL stock opened at $116.37 on Friday. The stock has a market capitalization of $10.94 billion, a price-to-earnings ratio of 11.54 and a beta of 0.70. Globe Life has a one year low of $102.23 and a one year high of $132.00. The company’s 50-day simple moving average is $122.69 and its 200-day simple moving average is $119.08. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GLGet Free Report) last released its quarterly earnings data on Wednesday, February 7th. The company reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.15. Globe Life had a net margin of 17.82% and a return on equity of 24.25%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the business earned $2.24 earnings per share. Globe Life’s quarterly revenue was up 6.0% on a year-over-year basis. Equities analysts anticipate that Globe Life will post 11.57 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.82%. This is a boost from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, April 4th. Globe Life’s payout ratio is presently 8.93%.

Hedge Funds Weigh In On Globe Life

Several institutional investors and hedge funds have recently added to or reduced their stakes in GL. Lindbrook Capital LLC boosted its stake in shares of Globe Life by 62.2% during the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after buying an additional 92 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of Globe Life by 4.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,111 shares of the company’s stock valued at $230,000 after buying an additional 99 shares during the period. Waverly Advisors LLC boosted its stake in shares of Globe Life by 1.9% during the 4th quarter. Waverly Advisors LLC now owns 5,458 shares of the company’s stock valued at $664,000 after buying an additional 100 shares during the period. Ascent Group LLC boosted its stake in shares of Globe Life by 3.2% during the 4th quarter. Ascent Group LLC now owns 3,426 shares of the company’s stock valued at $413,000 after buying an additional 105 shares during the period. Finally, Raymond James Trust N.A. boosted its stake in shares of Globe Life by 4.0% during the 2nd quarter. Raymond James Trust N.A. now owns 2,725 shares of the company’s stock valued at $299,000 after buying an additional 106 shares during the period. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

About Globe Life

(Get Free Report

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.

Further Reading

Analyst Recommendations for Globe Life (NYSE:GL)

Receive News & Ratings for Globe Life Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globe Life and related companies with MarketBeat.com's FREE daily email newsletter.