Globe Life Inc. (NYSE:GL) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Globe Life Inc. (NYSE:GL - Get Free Report) have received an average recommendation of "Moderate Buy" from the eleven ratings firms that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $137.73.

A number of brokerages recently weighed in on GL. Wall Street Zen raised shares of Globe Life from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Wells Fargo & Company lowered their price objective on shares of Globe Life from $140.00 to $139.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Morgan Stanley boosted their price objective on shares of Globe Life from $117.00 to $125.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Piper Sandler lowered their price objective on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd.

Globe Life Trading Up 0.5%

Shares of NYSE GL traded up $0.62 during trading on Friday, hitting $122.86. 489,858 shares of the company traded hands, compared to its average volume of 781,895. Globe Life has a 1 year low of $76.55 and a 1 year high of $133.76. The company has a 50-day moving average price of $121.68 and a 200-day moving average price of $118.75. The firm has a market capitalization of $10.14 billion, a P/E ratio of 10.28 and a beta of 0.56. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share for the quarter, missing analysts' consensus estimates of $3.24 by ($0.17). Globe Life had a return on equity of 22.32% and a net margin of 18.53%. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same period last year, the company posted $2.78 earnings per share. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities analysts predict that Globe Life will post 13.87 EPS for the current year.

Globe Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.88%. The ex-dividend date is Thursday, July 3rd. Globe Life's dividend payout ratio (DPR) is 8.79%.

Insiders Place Their Bets

In other news, CEO Frank M. Svoboda sold 6,019 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $122.51, for a total value of $737,387.69. Following the completion of the sale, the chief executive officer now directly owns 31,298 shares of the company's stock, valued at approximately $3,834,317.98. This represents a 16.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.51% of the stock is owned by insiders.

Institutional Trading of Globe Life

Institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its holdings in Globe Life by 56.0% during the fourth quarter. Pacer Advisors Inc. now owns 10,199 shares of the company's stock worth $1,137,000 after buying an additional 3,662 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Globe Life by 396.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 15,025 shares of the company's stock worth $1,676,000 after buying an additional 12,000 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in Globe Life by 12.8% during the fourth quarter. Hantz Financial Services Inc. now owns 13,594 shares of the company's stock worth $1,516,000 after buying an additional 1,546 shares in the last quarter. Swedbank AB bought a new stake in Globe Life during the fourth quarter worth approximately $52,414,000. Finally, DMC Group LLC boosted its holdings in Globe Life by 45.1% during the fourth quarter. DMC Group LLC now owns 3,194 shares of the company's stock worth $356,000 after buying an additional 993 shares in the last quarter. 81.61% of the stock is 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.