Globe Life Inc. (NYSE:GL - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eleven brokerages that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $137.73.
GL has been the topic of several recent analyst reports. Piper Sandler decreased their target price on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Morgan Stanley boosted their target price on shares of Globe Life from $117.00 to $125.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Wells Fargo & Company decreased their target price on shares of Globe Life from $140.00 to $139.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Wall Street Zen upgraded shares of Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd.
Check Out Our Latest Analysis on GL
Insider Transactions at Globe Life
In other Globe Life news, CEO Frank M. Svoboda sold 6,019 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $122.51, for a total transaction of $737,387.69. Following the sale, the chief executive officer now directly owns 31,298 shares in the company, valued at $3,834,317.98. This represents a 16.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.97% of the company's stock.
Institutional Investors Weigh In On Globe Life
A number of hedge funds have recently added to or reduced their stakes in GL. Rakuten Securities Inc. acquired a new stake in Globe Life during the 4th quarter worth approximately $28,000. Avalon Trust Co acquired a new stake in Globe Life during the 4th quarter worth approximately $41,000. EverSource Wealth Advisors LLC increased its position in shares of Globe Life by 32.7% in 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 purchased a new stake in shares of Globe Life in the 1st quarter valued at approximately $43,000. Finally, Platinum Investment Management Ltd. purchased a new stake in shares of Globe Life in the 4th quarter valued at approximately $45,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.
Globe Life Stock Up 1.3%
Shares of NYSE GL opened at $122.10 on Tuesday. Globe Life has a 12-month low of $80.36 and a 12-month high of $133.76. The stock has a market cap of $10.08 billion, a PE ratio of 9.94 and a beta of 0.56. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average of $121.02 and a 200 day moving average of $119.88.
Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.17). The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.49 billion. Globe Life had a net margin of 18.33% and a return on equity of 21.44%. The firm's revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.78 EPS. As a group, sell-side analysts predict that Globe Life will post 13.87 EPS for the current fiscal year.
Globe Life Dividend Announcement
The business also recently disclosed 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. The ex-dividend date is Thursday, July 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.88%. Globe Life's dividend payout ratio is currently 8.79%.
Globe Life Company Profile
(
Get Free ReportGlobe 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.
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