Globe Life (NYSE:GL) Earns Buy Rating from Analysts at TD Cowen

TD Cowen initiated coverage on shares of Globe Life (NYSE:GL) in a report issued on Wednesday, Marketbeat.com reports. The firm issued a buy rating and a $150.00 price objective on the stock.

GL has been the subject of several other research reports. Truist Financial upped their price target on shares of Globe Life from $80.00 to $90.00 and gave the company a hold rating in a research report on Friday, July 26th. Jefferies Financial Group increased their target price on shares of Globe Life from $85.00 to $88.00 and gave the stock a hold rating in a research report on Friday, June 28th. Morgan Stanley increased their target price on shares of 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 increased their target price on shares of Globe Life from $106.00 to $118.00 and gave the stock an overweight rating in a research report on Wednesday, October 2nd. Finally, Evercore ISI increased their target price on shares of Globe Life from $83.00 to $86.00 and gave the stock an in-line rating in a research report on Wednesday, June 26th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $114.60.

Globe Life Stock Up 1.3 %

Shares of NYSE:GL opened at $107.78 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market cap of $9.68 billion, a PE ratio of 9.75 and a beta of 0.81. Globe Life has a 52 week low of $38.95 and a 52 week high of $132.00. The firm has a 50 day simple moving average of $101.88 and a 200 day simple moving average of $90.94.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.90 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.61 EPS. As a group, research analysts expect that Globe Life will post 11.93 earnings per share for the current year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.89%. Globe Life’s dividend payout ratio is currently 8.68%.

Insider Activity

In other Globe Life news, Director Mary E. Thigpen purchased 3,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were acquired at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the acquisition, the director now owns 15,605 shares of the company’s stock, valued at $1,407,571. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.51% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GL. C M Bidwell & Associates Ltd. grew its stake in Globe Life by 34.2% in the 4th quarter. C M Bidwell & Associates Ltd. now owns 2,781 shares of the company’s stock valued at $339,000 after buying an additional 708 shares during the last quarter. Virtu Financial LLC acquired a new position in Globe Life in the 4th quarter valued at $706,000. Quadrature Capital Ltd grew its position in Globe Life by 69.2% in the 4th quarter. Quadrature Capital Ltd now owns 38,785 shares of the company’s stock worth $4,724,000 after purchasing an additional 15,862 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in Globe Life in the 4th quarter worth $211,000. Finally, NBC Securities Inc. grew its position in Globe Life by 2.7% in the 1st quarter. NBC Securities Inc. now owns 5,803 shares of the company’s stock worth $675,000 after purchasing an additional 153 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Company Profile

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.