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

Shares of Globe Life Inc. (NYSE:GL) have received an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $135.60.

Several research analysts have recently commented on GL shares. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. Morgan Stanley lifted their target price on Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. BMO Capital Markets started coverage on Globe Life in a research note on Thursday, January 23rd. They set a “market perform” rating and a $114.00 target price on the stock. Keefe, Bruyette & Woods lifted their target price on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Jefferies Financial Group lifted their target price on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th.

Insider Buying and Selling at Globe Life

In other news, CEO Frank M. Svoboda sold 11,000 shares of Globe Life stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $122.31, for a total value of $1,345,410.00. Following the completion of the transaction, the chief executive officer now owns 18,948 shares in the company, valued at approximately $2,317,529.88. The trade was a 36.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Matthew Darden sold 24,890 shares of Globe Life stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total value of $3,024,632.80. Following the completion of the transaction, the chief executive officer now owns 38,973 shares of the company’s stock, valued at approximately $4,735,998.96. This trade represents a 38.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,338 shares of company stock worth $7,239,630 in the last quarter. 1.51% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Globe Life

A number of institutional investors and hedge funds have recently modified their holdings of GL. Norges Bank bought a new stake in shares of Globe Life during the 4th quarter worth approximately $112,454,000. Nuance Investments LLC lifted its stake in shares of Globe Life by 155.6% during the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock worth $120,629,000 after acquiring an additional 693,346 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Globe Life during the 4th quarter worth approximately $61,238,000. Swedbank AB bought a new stake in shares of Globe Life during the 4th quarter worth approximately $52,414,000. Finally, Freestone Grove Partners LP bought a new stake in shares of Globe Life during the 4th quarter worth approximately $52,178,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Stock Down 1.4 %

GL stock opened at $126.86 on Friday. The business’s 50-day moving average is $122.53 and its two-hundred day moving average is $112.98. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $131.39. The company has a market cap of $10.64 billion, a price-to-earnings ratio of 10.62 and a beta of 0.77.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, topping the consensus estimate of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. As a group, analysts forecast that Globe Life will post 13.87 earnings per share for the current year.

Globe Life Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a boost from Globe Life’s previous quarterly dividend of $0.24. Globe Life’s dividend payout ratio (DPR) is currently 9.04%.

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.