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

Shares of Globe Life Inc. (NYSE:GL - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $137.73.

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods raised their target price on Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Piper Sandler reduced their target price on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Morgan Stanley lifted their price target 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. Finally, Wells Fargo & Company dropped their price objective on shares of Globe Life from $140.00 to $139.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th.

Globe Life Price Performance

Shares of NYSE GL traded up $0.92 during mid-day trading on Friday, reaching $121.89. 616,736 shares of the company were exchanged, compared to its average volume of 816,773. Globe Life has a 52 week low of $76.55 and a 52 week high of $133.76. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $10.06 billion, a PE ratio of 10.20 and a beta of 0.56. The company's 50 day moving average price is $122.02 and its 200 day moving average price is $118.51.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the firm earned $2.78 earnings per share. The business's revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts forecast that Globe Life will post 13.87 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Thursday, July 3rd. Globe Life's dividend payout ratio (DPR) is 8.79%.

Insider Buying and Selling at Globe Life

In other news, CEO Frank M. Svoboda sold 6,019 shares of the firm's stock in a transaction dated 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 owns 31,298 shares in the company, valued at approximately $3,834,317.98. This trade represents a 16.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.51% of the company's stock.

Hedge Funds Weigh In On Globe Life

Large investors have recently bought and sold shares of the business. Rakuten Securities Inc. bought a new position in Globe Life in the fourth quarter worth approximately $28,000. Avalon Trust Co purchased a new stake in shares of Globe Life during the 4th quarter valued at $41,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Globe Life by 32.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock valued at $41,000 after purchasing an additional 90 shares during the last quarter. SouthState Corp acquired a new stake in shares of Globe Life in the 1st quarter worth $43,000. Finally, Platinum Investment Management Ltd. acquired a new stake in shares of Globe Life in the 4th quarter worth $45,000. Institutional investors own 81.61% of the company's stock.

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.