Globe Life (NYSE:GL) Earns "Buy (B-)" Rating from Weiss Ratings

Key Points

• Globe Life received a "Buy (B-)" rating from Weiss Ratings, reaffirming confidence in the stock amid multiple brokerage upgrades.
• The first-quarter earnings per share exceeded estimates at $3.27, with a year-over-year revenue growth of 2.9%, but actual revenue fell slightly short of expectations.
• Recent insider activity includes significant share sales by CEO James Matthew Darden and EVP Michael Clay Majors, highlighting a 40.03% and a 17.52% decrease in their stock holdings, respectively.

Globe Life (NYSE:GL - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by equities research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other brokerages have also recently issued reports on GL. Cfra Research upgraded Globe Life to a "moderate buy" rating in a research note on Friday, July 25th. Truist Financial started coverage on Globe Life in a research note on Tuesday, July 15th. They set a "buy" rating and a $150.00 price objective on the stock. Wells Fargo & Company upped their price objective on Globe Life from $150.00 to $172.00 and gave the company an "overweight" rating in a research note on Wednesday. JPMorgan Chase & Co. upped 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. Finally, Morgan Stanley set a $179.00 price objective on Globe Life and gave the company an "overweight" rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $155.70.

Globe Life Stock Up 0.3%

Shares of NYSE GL opened at $135.98 on Wednesday. Globe Life has a 1 year low of $100.27 and a 1 year high of $147.83. The firm has a market cap of $11.01 billion, a price-to-earnings ratio of 10.87 and a beta of 0.55. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.06 and a current ratio of 0.06. The stock's 50-day simple moving average is $140.33 and its 200-day simple moving average is $128.71.

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, topping analysts' consensus estimates of $3.25 by $0.02. Globe Life had a return on equity of 21.24% and a net margin of 18.11%.The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the company earned $2.97 earnings per share. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. As a group, equities analysts anticipate that Globe Life will post 13.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO James Matthew Darden sold 33,270 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $135.59, for a total value of $4,511,079.30. Following the completion of the transaction, the chief executive officer directly owned 49,842 shares of the company's stock, valued at $6,758,076.78. This represents a 40.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Clay Majors sold 10,000 shares of the company's 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 completion of the sale, the executive vice president owned 47,066 shares of the company's stock, valued at $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. Over the last 90 days, insiders sold 84,722 shares of company stock valued at $11,733,793. 1.51% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Globe Life

Institutional investors have recently added to or reduced their stakes in the company. Global Assets Advisory LLC acquired a new stake in Globe Life in the second quarter worth approximately $25,000. AdvisorNet Financial Inc lifted its position in Globe Life by 60.0% in the second quarter. AdvisorNet Financial Inc now owns 224 shares of the company's stock worth $28,000 after purchasing an additional 84 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in Globe Life in the second quarter worth approximately $28,000. Assetmark Inc. lifted its position in Globe Life by 777.8% in the second quarter. Assetmark Inc. now owns 237 shares of the company's stock worth $29,000 after purchasing an additional 210 shares during the period. Finally, MUFG Securities EMEA plc acquired a new stake in Globe Life in the second quarter worth approximately $31,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

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.

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