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

Shares of Globe Life Inc. (NYSE:GL) have been given a consensus recommendation of “Moderate Buy” by the ten research firms that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $166.2222.

Several equities research analysts recently weighed in on the company. Morgan Stanley restated an “overweight” rating and set a $176.00 target price on shares of Globe Life in a research note on Monday, December 15th. Wells Fargo & Company reduced their price objective on shares of Globe Life from $172.00 to $170.00 and set an “overweight” rating for the company in a research report on Friday, October 24th. Weiss Ratings downgraded shares of Globe Life from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, January 14th. Evercore ISI cut shares of Globe Life from an “outperform” rating to an “in-line” rating and set a $155.00 price target for the company. in a research report on Tuesday, January 6th. Finally, TD Cowen restated a “buy” rating on shares of Globe Life in a research note on Thursday, December 11th.

Insiders Place Their Bets

In other news, CEO Frank M. Svoboda sold 9,379 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $140.43, for a total transaction of $1,317,092.97. Following the transaction, the chief executive officer directly owned 35,868 shares in the company, valued at approximately $5,036,943.24. This trade represents a 20.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.97% of the company’s stock.

Institutional Trading of Globe Life

Large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Globe Life by 6.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,391 shares of the company’s stock valued at $1,237,000 after purchasing an additional 607 shares during the period. NewEdge Advisors LLC increased its position in Globe Life by 368.1% in the 1st quarter. NewEdge Advisors LLC now owns 6,806 shares of the company’s stock valued at $897,000 after acquiring an additional 5,352 shares during the period. Goldman Sachs Group Inc. raised its stake in Globe Life by 11.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 563,021 shares of the company’s stock valued at $74,161,000 after acquiring an additional 58,163 shares during the last quarter. Empowered Funds LLC acquired a new stake in Globe Life during the 1st quarter worth approximately $428,000. Finally, Focus Partners Wealth grew its stake in shares of Globe Life by 8.3% in the 1st quarter. Focus Partners Wealth now owns 8,559 shares of the company’s stock valued at $1,127,000 after purchasing an additional 656 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Stock Up 0.2%

Globe Life stock opened at $143.77 on Wednesday. The stock has a market cap of $11.45 billion, a PE ratio of 10.42 and a beta of 0.47. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.07 and a quick ratio of 0.07. The stock’s fifty day moving average is $138.70 and its two-hundred day moving average is $137.68. Globe Life has a 1-year low of $109.38 and a 1-year high of $147.83.

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Monday, January 5th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, January 5th. This represents a $1.08 annualized dividend and a yield of 0.8%. Globe Life’s payout ratio is 7.83%.

Globe Life Company Profile

Globe Life, traded on the NYSE under the symbol GL, is a U.S.-based insurance holding company that underwrites and distributes a range of life and supplemental health insurance products. Through its subsidiary brands—Globe Life, American Income Life, Liberty National Life, United American Insurance Company and Family Heritage Life—it offers term life, whole life, fixed annuities and supplemental health coverage designed to meet the needs of individuals and families across various socioeconomic segments.

The company’s product suite includes low-cost, easy-to-understand life insurance policies, accidental death and dismemberment coverage, hospital indemnity plans and specified disease insurance.