Globe Life Inc. (NYSE:GL) Receives $132.18 Consensus Target Price from Analysts

Shares of Globe Life Inc. (NYSE:GL) have received an average recommendation of “Moderate Buy” from the eleven analysts that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $132.18.

Several research analysts recently weighed in on GL shares. Jefferies Financial Group upped their price target on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. TD Cowen started coverage on Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price on the stock. Truist Financial boosted their target price on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Wells Fargo & Company upped their price target on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods upped their price target on Globe Life from $135.00 to $137.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th.

Globe Life Stock Up 1.3 %

NYSE:GL opened at $120.90 on Friday. The firm has a market capitalization of $10.15 billion, a price-to-earnings ratio of 10.23 and a beta of 0.80. Globe Life has a 1-year low of $38.95 and a 1-year high of $132.00. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The business’s fifty day moving average price is $111.10 and its 200 day moving average price is $104.96.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 annualized dividend and a yield of 0.79%. Globe Life’s payout ratio is 8.12%.

Insider Activity at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the completion of the transaction, the chief executive officer now owns 16,396 shares of the company’s stock, valued at $1,783,884.80. This represents a 46.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $112.91, for a total value of $1,016,190.00. Following the completion of the transaction, the chief marketing officer now directly owns 13,485 shares of the company’s stock, valued at approximately $1,522,591.35. This trade represents a 40.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,788 shares of company stock worth $4,429,779 in the last 90 days. 1.51% of the stock is owned by company insiders.

Hedge Funds Weigh In On Globe Life

A number of hedge funds have recently modified their holdings of GL. Versant Capital Management Inc increased its holdings in Globe Life by 388.0% during the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after purchasing an additional 194 shares in the last quarter. Albion Financial Group UT acquired a new stake in Globe Life during the 4th quarter valued at $28,000. Riverview Trust Co acquired a new stake in Globe Life during the 3rd quarter valued at $32,000. True Wealth Design LLC acquired a new stake in Globe Life during the 3rd quarter valued at $59,000. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in Globe Life by 88.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after purchasing an additional 281 shares in the last quarter. 81.61% of the stock is 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.