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

Globe Life Inc. (NYSE:GL) has been given an average recommendation of “Moderate Buy” by the ten analysts that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $135.60.

GL has been the subject of several recent research reports. BMO Capital Markets initiated coverage on Globe Life in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target for the company. Wells Fargo & Company boosted their price target on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods boosted their price target on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley boosted their price target on Globe Life from $125.00 to $126.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 13,448 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the sale, the chief executive officer now owns 18,948 shares in the company, valued at approximately $2,132,786.88. The trade was a 41.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the sale, the director now owns 5,122 shares in the company, valued at approximately $579,964.06. The trade was a 36.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,338 shares of company stock worth $7,239,630. 1.51% of the stock is currently owned by insiders.

Institutional Trading of Globe Life

Several large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of Globe Life by 6.8% in the fourth quarter. Wellington Management Group LLP now owns 5,117,122 shares of the company’s stock worth $570,661,000 after buying an additional 326,307 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Globe Life by 6.0% in the fourth quarter. Invesco Ltd. now owns 3,932,637 shares of the company’s stock worth $438,568,000 after buying an additional 223,282 shares during the last quarter. State Street Corp boosted its stake in shares of Globe Life by 3.4% in the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after buying an additional 115,432 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Globe Life by 3.5% in the third quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock worth $276,994,000 after buying an additional 89,299 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Globe Life by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,592,734 shares of the company’s stock worth $177,615,000 after buying an additional 118,054 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Trading Down 1.4 %

Shares of NYSE GL opened at $126.86 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. The business has a fifty day simple moving average of $122.53 and a two-hundred day simple moving average of $112.98. The firm has a market cap of $10.64 billion, a PE ratio of 10.62 and a beta of 0.77. Globe Life has a twelve month low of $38.95 and a twelve month high of $131.39.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. Analysts expect that Globe Life will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.85%. This is an increase from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, April 3rd. Globe Life’s payout ratio is 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.