Globe Life Inc. (NYSE:GL) Receives $114.33 Consensus Target Price from Brokerages

Globe Life Inc. (NYSE:GL) has been given a consensus rating of “Moderate Buy” by the nine brokerages that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $114.33.

GL has been the topic of a number of research reports. Truist Financial cut their price objective on Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday. StockNews.com downgraded shares of Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Keefe, Bruyette & Woods raised shares of Globe Life from a “market perform” rating to an “outperform” rating and cut their target price for the company from $130.00 to $110.00 in a research note on Wednesday. Wells Fargo & Company decreased their price target on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th.

Globe Life Stock Performance

Shares of GL stock opened at $75.75 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a market capitalization of $7.12 billion, a price-to-earnings ratio of 7.23 and a beta of 0.69. Globe Life has a one year low of $38.95 and a one year high of $132.00. The company has a 50 day moving average price of $106.65 and a 200 day moving average price of $115.30.

Globe Life (NYSE:GL) last released its quarterly earnings data on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.53 earnings per share. Sell-side analysts anticipate that Globe Life will post 11.73 EPS for the current year.

Globe Life Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.27%. This is an increase from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, April 4th. Globe Life’s payout ratio is 9.17%.

Insider Buying and Selling

In related news, Director David A. Rodriguez purchased 1,500 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were acquired at an average cost of $79.72 per share, for a total transaction of $119,580.00. Following the transaction, the director now owns 4,192 shares of the company’s stock, valued at $334,186.24. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Globe Life news, Director David A. Rodriguez acquired 1,500 shares of Globe Life stock in a transaction dated Wednesday, April 24th. The stock was acquired at an average cost of $79.72 per share, for a total transaction of $119,580.00. Following the completion of the transaction, the director now owns 4,192 shares in the company, valued at approximately $334,186.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Rebecca E. Zorn sold 2,320 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the transaction, the executive vice president now owns 10,220 shares of the company’s stock, valued at approximately $790,006. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Globe Life in the 4th quarter valued at approximately $123,682,000. Corient Private Wealth LLC lifted its holdings in shares of Globe Life by 1,367.8% in the fourth quarter. Corient Private Wealth LLC now owns 362,535 shares of the company’s stock valued at $44,128,000 after purchasing an additional 337,836 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of Globe Life by 169.4% in the fourth quarter. California Public Employees Retirement System now owns 484,982 shares of the company’s stock worth $59,032,000 after buying an additional 304,942 shares during the period. Qube Research & Technologies Ltd boosted its position in shares of Globe Life by 141.4% in the third quarter. Qube Research & Technologies Ltd now owns 466,896 shares of the company’s stock worth $50,766,000 after buying an additional 273,515 shares during the period. Finally, Nuance Investments LLC purchased a new position in shares of Globe Life during the fourth quarter valued at $30,560,000. 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.