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

Globe Life Inc. (NYSE:GLGet Free Report) has been assigned an average rating of “Moderate Buy” from the nine research firms that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $111.67.

GL has been the subject of a number of research analyst reports. Raymond James reissued a “strong-buy” rating on shares of Globe Life in a research report on Tuesday, May 21st. Wells Fargo & Company lowered their price objective on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. Truist Financial lowered their price objective on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, April 24th. Evercore ISI increased their price objective on shares of Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a research report on Wednesday, June 26th. Finally, Piper Sandler lowered their price objective on shares of Globe Life from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, June 28th.

Read Our Latest Stock Analysis on GL

Globe Life Stock Down 0.7 %

GL opened at $80.89 on Tuesday. The firm has a 50 day moving average price of $82.58 and a 200 day moving average price of $102.48. The company has a market cap of $7.28 billion, a PE ratio of 7.73 and a beta of 0.81. Globe Life has a 1 year low of $38.95 and a 1 year high of $132.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GLGet Free Report) last posted its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. Globe Life had a return on equity of 23.01% and a net margin of 18.07%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the company posted $2.53 EPS. Sell-side analysts expect that Globe Life will post 11.72 earnings per share for the current year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Friday, July 5th. Globe Life’s payout ratio is currently 9.17%.

Insider Transactions at Globe Life

In other news, CFO Thomas Peter Kalmbach acquired 500 shares of Globe Life stock in a transaction that occurred on Friday, May 17th. The shares were purchased at an average cost of $84.43 per share, for a total transaction of $42,215.00. Following the completion of the purchase, the chief financial officer now directly owns 18,080 shares of the company’s stock, valued at approximately $1,526,494.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Thomas Peter Kalmbach acquired 500 shares of Globe Life stock in a transaction that occurred on Friday, May 17th. The shares were purchased at an average cost of $84.43 per share, for a total transaction of $42,215.00. Following the completion of the purchase, the chief financial officer now directly owns 18,080 shares of the company’s stock, valued at approximately $1,526,494.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Edward Hensley acquired 2,500 shares of Globe Life stock in a transaction that occurred on Tuesday, May 28th. The shares were purchased at an average price of $82.17 per share, for a total transaction of $205,425.00. Following the completion of the purchase, the executive vice president now directly owns 7,290 shares of the company’s stock, valued at $599,019.30. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 6,500 shares of company stock valued at $536,860. 1.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Globe Life

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Globe Life by 3.9% in the first quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock valued at $1,309,755,000 after buying an additional 425,993 shares during the last quarter. Cooke & Bieler LP increased its holdings in shares of Globe Life by 2.0% during the fourth quarter. Cooke & Bieler LP now owns 2,357,839 shares of the company’s stock valued at $286,996,000 after purchasing an additional 45,227 shares during the period. Boston Partners increased its holdings in shares of Globe Life by 6.4% during the first quarter. Boston Partners now owns 2,092,526 shares of the company’s stock valued at $243,200,000 after purchasing an additional 125,457 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Globe Life by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,200,369 shares of the company’s stock valued at $146,109,000 after purchasing an additional 29,560 shares during the period. Finally, Norges Bank acquired a new position in shares of Globe Life during the fourth quarter valued at $123,682,000. 81.61% of the stock is currently owned by institutional investors.

Globe Life Company Profile

(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.

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Analyst Recommendations for Globe Life (NYSE:GL)

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