Globe Life Inc. (NYSE:GL) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Globe Life Inc. (NYSE:GLGet Free Report) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $134.14.

GL has been the subject of several analyst reports. Morgan Stanley boosted their target price on Globe Life from $131.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 15th. Truist Financial boosted their target price on Globe Life from $115.00 to $125.00 and gave the stock a “hold” rating in a research report on Friday, February 9th. StockNews.com upgraded Globe Life from a “hold” rating to a “buy” rating in a research report on Monday. Finally, JPMorgan Chase & Co. boosted their target price on Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th.

Check Out Our Latest Stock Report on GL

Globe Life Price Performance

Shares of GL stock opened at $126.31 on Wednesday. The stock has a 50-day moving average price of $123.37 and a 200 day moving average price of $118.08. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. The firm has a market cap of $11.84 billion, a price-to-earnings ratio of 12.53 and a beta of 0.70. Globe Life has a 12 month low of $102.23 and a 12 month high of $132.00.

Globe Life (NYSE:GLGet Free Report) last posted its earnings results on Wednesday, February 7th. The company reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.15. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. Globe Life had a return on equity of 24.25% and a net margin of 17.82%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.24 EPS. Research analysts expect that Globe Life will post 11.57 EPS for the current year.

Insider Activity

In other Globe Life news, EVP Dolores L. Skarjune sold 20,479 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $123.28, for a total value of $2,524,651.12. Following the sale, the executive vice president now owns 4,956 shares in the company, valued at approximately $610,975.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Globe Life news, EVP Dolores L. Skarjune sold 20,479 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $123.28, for a total value of $2,524,651.12. Following the sale, the executive vice president now owns 4,956 shares in the company, valued at approximately $610,975.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jane Buchan sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $124.50, for a total value of $124,500.00. Following the completion of the sale, the director now owns 80,285 shares in the company, valued at approximately $9,995,482.50. The disclosure for this sale can be found here. Insiders have sold 24,003 shares of company stock worth $2,955,489 in the last 90 days. Corporate insiders own 4.33% of the company’s stock.

Institutional Investors Weigh In On Globe Life

Institutional investors have recently bought and sold shares of the company. Invesco Ltd. increased its position in shares of Globe Life by 3.7% during the 3rd quarter. Invesco Ltd. now owns 1,901,013 shares of the company’s stock worth $206,697,000 after purchasing an additional 67,753 shares during the last quarter. First Trust Direct Indexing L.P. increased its position in shares of Globe Life by 7.0% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,985 shares of the company’s stock worth $325,000 after purchasing an additional 195 shares during the last quarter. Barclays PLC increased its position in shares of Globe Life by 48.0% during the 3rd quarter. Barclays PLC now owns 254,116 shares of the company’s stock worth $27,632,000 after purchasing an additional 82,367 shares during the last quarter. Stifel Financial Corp increased its position in shares of Globe Life by 200.8% during the 3rd quarter. Stifel Financial Corp now owns 232,329 shares of the company’s stock worth $25,261,000 after purchasing an additional 155,090 shares during the last quarter. Finally, AlphaStar Capital Management LLC increased its position in shares of Globe Life by 10.9% during the 3rd quarter. AlphaStar Capital Management LLC now owns 7,122 shares of the company’s stock worth $774,000 after purchasing an additional 700 shares during the last quarter. Institutional investors own 80.04% of the company’s stock.

Globe Life Company Profile

(Get Free Report

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.

See Also

Analyst Recommendations for Globe Life (NYSE:GL)

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