Globe Life Inc. (NYSE:GL) Receives $152.00 Consensus Price Target from Analysts

Key Points

• Globe Life Inc. has received a consensus rating of "Moderate Buy" from eleven analysts, with two hold ratings, eight buy ratings, and one strong buy rating.
• The average target price set by analysts for Globe Life's stock is $152.00, and recent reports indicate price targets have been increased by various brokerages.
• The company has announced a quarterly dividend of $0.27 per share, payable on October 31st, representing an annualized yield of 0.8% based on a payout ratio of 8.63%.

Shares of Globe Life Inc. (NYSE:GL - Get Free Report) have earned an average rating of "Moderate Buy" from the eleven research firms that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $152.00.

Several analysts have weighed in on GL shares. Keefe, Bruyette & Woods lifted their price objective on shares of Globe Life from $145.00 to $155.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Piper Sandler dropped 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 note on Friday, May 2nd. BMO Capital Markets restated a "market perform" rating and issued a $149.00 target price (up from $114.00) on shares of Globe Life in a research report on Wednesday, July 30th. Cfra Research raised shares of Globe Life to a "moderate buy" rating in a report on Friday, July 25th. Finally, Wall Street Zen raised shares of Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th.

Globe Life Stock Performance

Shares of NYSE GL traded down $0.48 during mid-day trading on Wednesday, reaching $138.52. 671,035 shares of the company were exchanged, compared to its average volume of 810,178. The company's 50-day simple moving average is $126.33 and its 200-day simple moving average is $124.09. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $11.22 billion, a P/E ratio of 10.72 and a beta of 0.56. Globe Life has a twelve month low of $95.09 and a twelve month high of $144.00.

Globe Life (NYSE:GL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.25 by $0.02. The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.50 billion. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. Globe Life's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.97 EPS. As a group, research analysts predict that Globe Life will post 13.87 earnings per share for the current year.

Globe Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, October 3rd. This represents a $1.08 annualized dividend and a yield of 0.8%. Globe Life's dividend payout ratio is presently 8.63%.

Insider Buying and Selling at Globe Life

In other news, EVP Michael Clay Majors sold 10,000 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $137.41, for a total value of $1,374,100.00. Following the completion of the sale, the executive vice president owned 47,066 shares in the company, valued at $6,467,339.06. This represents a 17.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the company's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $140.97, for a total transaction of $4,081,363.44. Following the completion of the sale, the chief financial officer owned 30,665 shares of the company's stock, valued at approximately $4,322,845.05. The trade was a 48.56% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,741 shares of company stock worth $12,471,180. Corporate insiders own 1.51% of the company's stock.

Institutional Trading of Globe Life

Several institutional investors have recently made changes to their positions in GL. Bessemer Group Inc. grew its position in Globe Life by 3.8% during the fourth quarter. Bessemer Group Inc. now owns 11,774 shares of the company's stock valued at $1,313,000 after buying an additional 430 shares during the period. Treasurer of the State of North Carolina boosted its position in Globe Life by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 39,048 shares of the company's stock worth $4,355,000 after purchasing an additional 250 shares during the period. Barclays PLC boosted its position in Globe Life by 16.1% during the fourth quarter. Barclays PLC now owns 287,993 shares of the company's stock worth $32,116,000 after purchasing an additional 39,846 shares during the period. Mariner LLC boosted its position in Globe Life by 9.5% during the fourth quarter. Mariner LLC now owns 31,355 shares of the company's stock worth $3,497,000 after purchasing an additional 2,733 shares during the period. Finally, Canada Post Corp Registered Pension Plan bought a new position in Globe Life during the fourth quarter worth about $120,000. 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.