Brokerages Set Globe Life Inc. (NYSE:GL) Target Price at $124.50

Shares of Globe Life Inc. (NYSE:GL) have been assigned a consensus rating of “Moderate Buy” from the ten research firms that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $124.50.

Several analysts have weighed in on the company. Raymond James upped their target price on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th. Wells Fargo & Company increased their price objective on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Piper Sandler lifted their target price on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Morgan Stanley increased their price target on shares of Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Finally, Truist Financial lifted their price objective on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, October 25th.

Globe Life Stock Performance

NYSE:GL opened at $104.76 on Friday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The firm’s fifty day simple moving average is $108.13 and its 200-day simple moving average is $97.41. The stock has a market cap of $8.79 billion, a PE ratio of 8.86 and a beta of 0.81.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company posted $2.71 earnings per share. Analysts expect that Globe Life will post 12.31 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 annualized dividend and a yield of 0.92%. Globe Life’s payout ratio is currently 8.12%.

Insiders Place Their Bets

In related news, CEO Frank M. Svoboda sold 14,340 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total value of $1,560,192.00. Following the sale, the chief executive officer now directly owns 16,396 shares of the company’s stock, valued at approximately $1,783,884.80. This trade represents a 46.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.51% of the company’s stock.

Hedge Funds Weigh In On Globe Life

Large investors have recently bought and sold shares of the stock. Riverview Trust Co purchased a new position in Globe Life in the third quarter valued at approximately $32,000. Benjamin F. Edwards & Company Inc. boosted its position in Globe Life by 88.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after purchasing an additional 281 shares during the period. LRI Investments LLC raised its position in Globe Life by 898.4% in the second quarter. LRI Investments LLC now owns 619 shares of the company’s stock valued at $51,000 after purchasing an additional 557 shares during the period. Family Firm Inc. acquired a new position in shares of Globe Life during the second quarter worth about $54,000. Finally, True Wealth Design LLC acquired a new stake in shares of Globe Life in the third quarter valued at about $59,000. Hedge funds and other 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.