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

Shares of Globe Life Inc. (NYSE:GL - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eleven brokerages that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $143.82.

Several equities research analysts have recently issued reports on GL shares. JPMorgan Chase & Co. raised their price objective on Globe Life from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Morgan Stanley set a $127.00 price objective on Globe Life and gave the company an "equal weight" rating in a research note on Monday, July 14th. Wall Street Zen raised Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Piper Sandler decreased their price target on Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Finally, Wells Fargo & Company boosted their price objective on Globe Life from $139.00 to $144.00 and gave the company an "overweight" rating in a report on Thursday, July 10th.

Insiders Place Their Bets

In other Globe Life news, CEO Frank M. Svoboda sold 6,019 shares of Globe Life stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $122.51, for a total transaction of $737,387.69. Following the completion of the sale, the chief executive officer directly owned 31,298 shares of the company's stock, valued at $3,834,317.98. The trade was a 16.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.51% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Globe Life

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Globe Life in the 4th quarter valued at $112,454,000. Nuveen LLC purchased a new position in shares of Globe Life in the 1st quarter valued at $131,608,000. GAMMA Investing LLC increased its holdings in shares of Globe Life by 15,553.5% in the 1st quarter. GAMMA Investing LLC now owns 781,890 shares of the company's stock valued at $102,991,000 after acquiring an additional 776,895 shares during the period. Freestone Grove Partners LP purchased a new position in shares of Globe Life in the 4th quarter valued at $52,178,000. Finally, Marshall Wace LLP increased its holdings in shares of Globe Life by 1,702.5% in the 4th quarter. Marshall Wace LLP now owns 484,692 shares of the company's stock valued at $54,053,000 after acquiring an additional 457,802 shares during the period. 81.61% of the stock is owned by institutional investors.

Globe Life Stock Performance

NYSE GL opened at $122.20 on Friday. The stock has a market capitalization of $10.09 billion, a PE ratio of 9.94 and a beta of 0.56. The business has a 50 day simple moving average of $120.87 and a two-hundred day simple moving average of $121.51. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.07 and a quick ratio of 0.07. Globe Life has a 1-year low of $86.10 and a 1-year high of $133.76.

Globe Life (NYSE:GL - Get Free Report) last posted 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 company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. Globe Life had a net margin of 18.33% and a return on equity of 21.44%. Globe Life's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.78 earnings per share. On average, research analysts predict that Globe Life will post 13.87 EPS for the current fiscal 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 dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Thursday, July 3rd. Globe Life's dividend payout ratio (DPR) is presently 8.79%.

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.

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