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

Shares of Globe Life Inc. (NYSE:GL) have been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $114.33.

A number of brokerages have weighed in on GL. Truist Financial cut their price target on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, April 24th. Wells Fargo & Company lowered their price target on Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Evercore ISI decreased their target price on Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research report on Friday, April 12th. Piper Sandler decreased their target price on Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. Finally, StockNews.com cut Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th.

Globe Life Trading Up 2.7 %

Shares of Globe Life stock opened at $85.62 on Monday. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of 8.18 and a beta of 0.78. The company has a fifty day simple moving average of $91.42 and a 200-day simple moving average of $111.51. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.32. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00.

Globe Life (NYSE:GL) last posted its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.01%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.53 earnings per share. On average, equities analysts forecast that Globe Life will post 11.72 EPS for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.96 annualized dividend and a yield of 1.12%. Globe Life’s dividend payout ratio is 9.17%.

Insider Buying and Selling

In other news, EVP Rebecca E. Zorn sold 2,320 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $77.30, for a total transaction of $179,336.00. Following the completion of the transaction, the executive vice president now owns 10,220 shares in the company, valued at $790,006. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO James Matthew Darden purchased 2,000 shares of Globe Life stock in a transaction that occurred on Thursday, May 16th. The stock was purchased at an average price of $84.82 per share, for a total transaction of $169,640.00. Following the transaction, the chief executive officer now directly owns 37,973 shares in the company, valued at $3,220,869.86. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Rebecca E. Zorn sold 2,320 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $77.30, for a total transaction of $179,336.00. Following the completion of the sale, 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. In the last three months, insiders have purchased 4,000 shares of company stock valued at $331,435. 1.51% of the stock is owned by company insiders.

Institutional Trading of Globe Life

Institutional investors have recently added to or reduced their stakes in the stock. Private Trust Co. NA lifted its position in shares of Globe Life by 270.0% during the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after purchasing an additional 162 shares during the last quarter. Private Wealth Management Group LLC acquired a new position in shares of Globe Life during the fourth quarter worth about $27,000. BKM Wealth Management LLC acquired a new position in Globe Life during the fourth quarter worth about $28,000. Lindbrook Capital LLC lifted its holdings in shares of Globe Life by 62.2% in the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after purchasing an additional 92 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Globe Life by 177.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock valued at $34,000 after purchasing an additional 177 shares in the last quarter. Institutional investors and hedge funds 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.