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

Shares of Globe Life Inc. (NYSE:GL) have been assigned an average rating of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $114.33.

Several research analysts recently issued reports on the stock. Truist Financial cut their price target on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday. Wells Fargo & Company cut their price target on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday. Evercore ISI cut their price target on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a report on Friday, April 12th. Keefe, Bruyette & Woods raised shares of Globe Life from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $130.00 to $110.00 in a report on Wednesday. Finally, JPMorgan Chase & Co. increased their price target on shares of Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC grew its position in shares of Globe Life by 11.4% in the third quarter. CWM LLC now owns 1,527 shares of the company’s stock valued at $166,000 after purchasing an additional 156 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Globe Life in the third quarter valued at approximately $625,000. Oak Thistle LLC acquired a new stake in shares of Globe Life in the third quarter valued at approximately $1,191,000. Czech National Bank grew its position in shares of Globe Life by 44.5% in the third quarter. Czech National Bank now owns 15,197 shares of the company’s stock valued at $1,652,000 after purchasing an additional 4,677 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in Globe Life by 1.3% during the third quarter. Asset Management One Co. Ltd. now owns 37,304 shares of the company’s stock worth $4,056,000 after acquiring an additional 476 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Trading Up 3.7 %

NYSE GL opened at $78.60 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a market cap of $7.39 billion, a PE ratio of 7.51 and a beta of 0.69. Globe Life has a one year low of $38.95 and a one year high of $132.00. The firm’s fifty day moving average is $108.65 and its two-hundred day moving average is $115.82.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.53 earnings per share. Analysts expect that Globe Life will post 11.6 earnings per share for the current year.

Globe Life Increases Dividend

The business also recently announced 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 is a positive change from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, April 4th. Globe Life’s dividend payout ratio is presently 9.17%.

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.