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

Globe Life Inc. (NYSE:GL) has been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $108.33.

Several brokerages recently weighed in on GL. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $118.00 target price (up previously from $110.00) on shares of Globe Life in a report on Wednesday, July 31st. Morgan Stanley increased their target price on Globe Life from $66.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Piper Sandler boosted their price target on Globe Life from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Truist Financial increased their price objective on shares of Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a report on Friday, July 26th. Finally, Jefferies Financial Group boosted their target price on shares of Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, June 28th.

Globe Life Stock Performance

Shares of GL opened at $106.26 on Friday. Globe Life has a 52 week low of $38.95 and a 52 week high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.31. The stock has a market cap of $9.57 billion, a price-to-earnings ratio of 10.15 and a beta of 0.81. The business has a 50-day simple moving average of $97.02 and a two-hundred day simple moving average of $92.58.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.61 EPS. On average, analysts expect that Globe Life will post 11.93 EPS for the current year.

Globe Life Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Friday, October 4th. Globe Life’s payout ratio is 9.17%.

Insiders Place Their Bets

In related news, Director Mary E. Thigpen bought 3,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were purchased at an average price of $90.20 per share, with a total value of $270,600.00. Following the transaction, the director now owns 15,605 shares in the company, valued at approximately $1,407,571. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.51% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Globe Life

A number of large investors have recently made changes to their positions in GL. NBC Securities Inc. boosted its holdings in Globe Life by 2.7% during the 1st quarter. NBC Securities Inc. now owns 5,803 shares of the company’s stock valued at $675,000 after acquiring an additional 153 shares during the period. Commonwealth Equity Services LLC increased its stake in Globe Life by 0.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock worth $4,082,000 after buying an additional 167 shares during the period. Perigon Wealth Management LLC increased its stake in Globe Life by 7.6% in the 1st quarter. Perigon Wealth Management LLC now owns 2,619 shares of the company’s stock worth $305,000 after buying an additional 184 shares during the period. Bruce G. Allen Investments LLC boosted its position in Globe Life by 33.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 806 shares of the company’s stock valued at $66,000 after buying an additional 201 shares during the period. Finally, Quarry LP boosted its position in Globe Life by 47.5% in the 2nd quarter. Quarry LP now owns 838 shares of the company’s stock valued at $69,000 after buying an additional 270 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

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.