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

Globe Life Inc. (NYSE:GL) has received an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $137.55.

Several research firms have recently commented on GL. Piper Sandler boosted their price target on shares of Globe Life from $140.00 to $152.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. BMO Capital Markets started coverage on Globe Life in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 target price on the stock. Morgan Stanley cut their price target on Globe Life from $126.00 to $117.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. Wells Fargo & Company lowered their price target on Globe Life from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Finally, JPMorgan Chase & Co. increased their price objective on Globe Life from $136.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd.

Globe Life Stock Up 1.4 %

Shares of Globe Life stock opened at $121.16 on Thursday. Globe Life has a 1 year low of $54.66 and a 1 year high of $133.76. The company has a market cap of $10.09 billion, a P/E ratio of 10.14 and a beta of 0.60. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average price of $124.26 and a 200 day moving average price of $115.37.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. As a group, analysts expect that Globe Life will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be issued a dividend of $0.27 per share. This is an increase from Globe Life’s previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, April 3rd. Globe Life’s dividend payout ratio is currently 9.04%.

Insider Buying and Selling

In other news, CEO Frank M. Svoboda sold 11,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $122.31, for a total value of $1,345,410.00. Following the completion of the sale, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at approximately $2,317,529.88. This represents a 36.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Matthew Darden sold 24,890 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the transaction, the chief executive officer now directly owns 38,973 shares in the company, valued at $4,735,998.96. This trade represents a 38.97 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.51% of the company’s stock.

Institutional Trading of Globe Life

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Globe Life during the fourth quarter valued at about $112,454,000. GAMMA Investing LLC increased its stake in Globe Life by 15,553.5% during the first quarter. GAMMA Investing LLC now owns 781,890 shares of the company’s stock valued at $102,991,000 after acquiring an additional 776,895 shares during the period. Raymond James Financial Inc. acquired a new position in Globe Life in the 4th quarter valued at approximately $61,238,000. Swedbank AB bought a new stake in shares of Globe Life in the 4th quarter worth approximately $52,414,000. Finally, Freestone Grove Partners LP acquired a new stake in shares of Globe Life during the 4th quarter worth approximately $52,178,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

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.