Globe Life Inc. (GL) - What Are Researchers Thinking About This Stock?

Key Points

• Analyst sentiment is broadly positive: Globe Life has a “Moderate Buy” consensus from 11 analysts, with an average 12-month price target of $181.50. Recent views varied, including Piper Sandler’s downgrade to neutral and JPMorgan’s target increase to $195.
• Quarterly results were mixed: EPS of $4.84 narrowly missed the $4.90 consensus, while revenue of $1.60 billion topped expectations and rose 5.5% year over year.
• The board authorized a $2.5 billion share-repurchase program, allowing buybacks of up to 17.7% of shares. Two executive vice presidents also disclosed stock sales.

Shares of Globe Life Inc. (NYSE:GL - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eleven analysts that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $181.50.

A number of brokerages recently weighed in on GL. Weiss Ratings upgraded shares of Globe Life from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, October 21st. JPMorgan Chase & Co. lifted their price objective on shares of Globe Life from $193.00 to $195.00 and gave the company an "overweight" rating in a research note on Thursday, October 15th. Keefe, Bruyette & Woods decreased their price objective on Globe Life from $192.00 to $190.00 and set an "outperform" rating for the company in a research report on Friday, July 24th. Piper Sandler lowered Globe Life from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $200.00 to $165.00 in a report on Friday, October 23rd. Finally, UBS Group set a $165.00 price target on Globe Life in a research note on Friday, October 23rd.

Insiders Place Their Bets

In other Globe Life news, EVP Michael Majors sold 14,377 shares of the business's stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $154.48, for a total value of $2,220,958.96. Following the transaction, the executive vice president directly owned 39,141 shares of the company's stock, valued at approximately $6,046,501.68. The trade was a 26.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert Hensley sold 10,000 shares of the company's stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $170.07, for a total transaction of $1,700,700.00. Following the transaction, the executive vice president owned 12,384 shares of the company's stock, valued at approximately $2,106,146.88. The trade was a 44.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.11% of the company's stock.

Institutional Trading of Globe Life

Hedge funds have recently modified their holdings of the business. Fulcrum Asset Management LLP purchased a new stake in shares of Globe Life during the third quarter worth about $33,000. Johnson Financial Group Inc. purchased a new stake in shares of Globe Life in the second quarter valued at $39,000. Jacobi Capital Management LLC purchased a new stake in shares of Globe Life in the third quarter valued at $50,000. Fortitude Family Office LLC increased its stake in Globe Life by 94.6% in the third quarter. Fortitude Family Office LLC now owns 327 shares of the company's stock valued at $54,000 after purchasing an additional 159 shares during the last quarter. Finally, Assetmark Inc. increased its stake in Globe Life by 42.0% in the second quarter. Assetmark Inc. now owns 426 shares of the company's stock valued at $76,000 after purchasing an additional 126 shares during the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Globe Life Trading Down 1.5%

NYSE:GL opened at $159.28 on Friday. The company has a market capitalization of $12.24 billion, a PE ratio of 10.65 and a beta of 0.47. Globe Life has a 52-week low of $129.21 and a 52-week high of $191.55. The stock's 50 day moving average price is $167.23 and its 200 day moving average price is $160.00. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.43.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 21st. The company reported $4.84 earnings per share for the quarter, missing analysts' consensus estimates of $4.90 by ($0.06). The firm had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.56 billion. Globe Life had a net margin of 18.89% and a return on equity of 19.95%. Globe Life's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.81 EPS. On average, research analysts anticipate that Globe Life will post 15.48 EPS for the current year.

Globe Life declared that its board has authorized a share repurchase plan on Monday, August 10th that permits the company to buy back $2.50 billion in shares. This repurchase authorization permits the company to buy up to 17.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

Globe Life Company Profile

Globe Life Inc NYSE: GL is an insurance holding company that provides individual life and supplemental health insurance products through a network of wholly owned subsidiaries. Its offerings are designed primarily for middle-income households and include term and whole life insurance, mortgage protection coverage, accident and supplemental health insurance, Medicare supplement policies, and annuities.

The company markets its products through several distribution channels, including exclusive and independent agency networks, direct-to-consumer sales, and workplace or union-affiliated programs.

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