Globe Life Inc. (NYSE:GL) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Globe Life Inc. (NYSE:GL) have received a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $127.10.

Several equities analysts have recently commented on GL shares. TD Cowen started coverage on Globe Life in a report on Wednesday, October 9th. They set a “buy” rating and a $150.00 target price for the company. Wells Fargo & Company upped their target price on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Morgan Stanley upped their target price on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods boosted their price objective on Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Finally, Jefferies Financial Group boosted their price objective on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th.

Insider Buying and Selling

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the completion of the sale, the chief executive officer now directly owns 16,396 shares in the company, valued at $1,783,884.80. This 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. 1.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Globe Life

A number of institutional investors have recently bought and sold shares of GL. State Street Corp boosted its holdings in Globe Life by 3.4% during the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after purchasing an additional 115,432 shares in the last quarter. Geode Capital Management LLC boosted its stake in Globe Life by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock valued at $276,994,000 after buying an additional 89,299 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Globe Life by 22.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock valued at $160,949,000 after acquiring an additional 277,108 shares during the period. Millennium Management LLC lifted its holdings in shares of Globe Life by 177.0% during the second quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock valued at $105,303,000 after acquiring an additional 817,760 shares during the period. Finally, Nuance Investments LLC lifted its holdings in Globe Life by 155.6% during the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock valued at $120,629,000 after purchasing an additional 693,346 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Stock Up 0.4 %

Shares of Globe Life stock opened at $109.95 on Tuesday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The firm has a market cap of $9.23 billion, a P/E ratio of 9.30 and a beta of 0.81. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The business has a 50-day moving average price of $108.16 and a 200 day moving average price of $100.07.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.43. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. Globe Life’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.71 earnings per share. On average, sell-side analysts forecast that Globe Life will post 12.31 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s dividend payout ratio is presently 8.12%.

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.