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

Key Points

• Globe Life Inc. has received an average recommendation of "Moderate Buy" from eleven analysts, with an average target price of $152.45.
• Insider selling was notable, as CEO Frank M. Svoboda sold 12,500 shares for $1.77 million, representing a 27.63% decrease in his ownership.
• The company recently announced a quarterly dividend of $0.27 per share, with an upcoming payment date of October 31st, reflecting a 0.8% dividend yield.

Globe Life Inc. (NYSE:GL - Get Free Report) has earned an average recommendation of "Moderate Buy" from the eleven analysts that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $152.4545.

Several analysts have commented on the company. Wells Fargo & Company upped their price objective on Globe Life from $144.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Truist Financial assumed coverage on Globe Life in a research note on Tuesday, July 15th. They set a "buy" rating and a $150.00 price objective for the company. BMO Capital Markets reaffirmed a "market perform" rating and set a $149.00 price objective (up from $114.00) on shares of Globe Life in a research note on Wednesday, July 30th. Cfra Research raised Globe Life to a "moderate buy" rating in a research note on Friday, July 25th. Finally, Morgan Stanley upped their price objective on Globe Life from $166.00 to $171.00 and gave the company an "overweight" rating in a research note on Monday, August 18th.

Insiders Place Their Bets

In other news, CEO Frank M. Svoboda sold 12,500 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $141.38, for a total transaction of $1,767,250.00. Following the completion of the transaction, the chief executive officer directly owned 32,747 shares of the company's stock, valued at approximately $4,629,770.86. This represents a 27.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Clay Majors sold 10,000 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $137.41, for a total value of $1,374,100.00. Following the transaction, the executive vice president directly owned 47,066 shares of the company's stock, valued at approximately $6,467,339.06. This trade represents a 17.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,722 shares of company stock valued at $11,733,793. Corporate insiders own 1.51% of the company's stock.

Hedge Funds Weigh In On Globe Life

Several hedge funds have recently bought and sold shares of GL. Wealth Enhancement Advisory Services LLC increased its stake in Globe Life by 5.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 20,938 shares of the company's stock valued at $2,335,000 after purchasing an additional 1,159 shares in the last quarter. Versant Capital Management Inc increased its stake in Globe Life by 140.2% in the 1st quarter. Versant Capital Management Inc now owns 586 shares of the company's stock valued at $77,000 after purchasing an additional 342 shares in the last quarter. Parallel Advisors LLC increased its stake in Globe Life by 7.3% in the 1st quarter. Parallel Advisors LLC now owns 1,553 shares of the company's stock valued at $205,000 after purchasing an additional 106 shares in the last quarter. Rhumbline Advisers increased its stake in Globe Life by 4.3% in the 1st quarter. Rhumbline Advisers now owns 209,018 shares of the company's stock valued at $27,532,000 after purchasing an additional 8,531 shares in the last quarter. Finally, Czech National Bank increased its stake in Globe Life by 5.9% in the 1st quarter. Czech National Bank now owns 19,280 shares of the company's stock valued at $2,540,000 after purchasing an additional 1,079 shares in the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Stock Down 1.3%

Shares of NYSE GL opened at $141.13 on Thursday. The stock has a market cap of $11.43 billion, a PE ratio of 11.28 and a beta of 0.55. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.43. Globe Life has a 52-week low of $100.27 and a 52-week high of $147.83. The business has a 50-day moving average price of $140.37 and a 200 day moving average price of $128.40.

Globe Life (NYSE:GL - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.25 by $0.02. The firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.50 billion. Globe Life had a return on equity of 21.24% and a net margin of 18.11%.The business's revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.97 EPS. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. Equities research analysts forecast that Globe Life will post 13.87 earnings per share for the current year.

Globe Life Announces Dividend

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

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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