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

Globe Life Inc. (NYSE:GL) has been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $114.33.

A number of equities analysts have recently commented on GL shares. Evercore ISI dropped their price objective on Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a research note on Friday, April 12th. Piper Sandler dropped their price objective on Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. JPMorgan Chase & Co. lifted their price objective on Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Truist Financial dropped their price objective on Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, April 24th. Finally, Wells Fargo & Company dropped their price objective on Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th.

Globe Life Price Performance

NYSE GL opened at $79.48 on Thursday. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The stock’s 50-day moving average is $104.71 and its two-hundred day moving average is $114.81. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market cap of $7.47 billion, a P/E ratio of 7.59 and a beta of 0.69.

Globe Life (NYSE:GL) last posted its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the business earned $2.53 earnings per share. Globe Life’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts anticipate that Globe Life will post 11.72 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Friday, April 5th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, April 4th. This is an increase from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 1.21%. Globe Life’s dividend payout ratio (DPR) is 9.17%.

Insider Buying and Selling

In other news, Director David A. Rodriguez bought 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were acquired at an average cost of $79.72 per share, with a total value of $119,580.00. Following the completion of the transaction, the director now directly owns 4,192 shares in the company, valued at $334,186.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Globe Life news, EVP Rebecca E. Zorn sold 2,320 shares of Globe Life stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total transaction of $179,336.00. Following the sale, the executive vice president now directly owns 10,220 shares of the company’s stock, valued at $790,006. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David A. Rodriguez acquired 1,500 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were bought at an average cost of $79.72 per share, for a total transaction of $119,580.00. Following the completion of the acquisition, the director now directly owns 4,192 shares of the company’s stock, valued at approximately $334,186.24. The disclosure for this purchase can be found here. 1.51% of the stock is owned by company insiders.

Institutional Investors Weigh In On Globe Life

Institutional investors have recently added to or reduced their stakes in the stock. Lindbrook Capital LLC boosted its holdings in shares of Globe Life by 62.2% in the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after acquiring an additional 92 shares in the last quarter. Sequoia Financial Advisors LLC raised its position 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 acquiring an additional 99 shares during the last quarter. Stonegate Investment Group LLC raised its position in shares of Globe Life by 0.3% during the 4th quarter. Stonegate Investment Group LLC now owns 34,123 shares of the company’s stock valued at $4,153,000 after acquiring an additional 116 shares during the last quarter. Brown Advisory Inc. raised its position in shares of Globe Life by 3.0% during the 3rd quarter. Brown Advisory Inc. now owns 4,127 shares of the company’s stock valued at $449,000 after acquiring an additional 121 shares during the last quarter. Finally, Tectonic Advisors LLC raised its position in shares of Globe Life by 5.3% during the 4th quarter. Tectonic Advisors LLC now owns 2,960 shares of the company’s stock valued at $360,000 after acquiring an additional 150 shares during the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

About Globe Life

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.