Globe Life Inc. (NYSE:GL) Receives $111.67 Average Price Target from Analysts

Globe Life Inc. (NYSE:GL) has earned an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $104.22.

Several equities research analysts have recently weighed in on the company. Evercore ISI upped their price target on Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a research report on Wednesday, June 26th. Wells Fargo & Company cut their price target on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Jefferies Financial Group upped their price target on shares of Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, June 28th. Truist Financial dropped their price objective on Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, April 24th. Finally, Piper Sandler decreased their target price on Globe Life from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, June 28th.

Insider Buying and Selling at Globe Life

In other news, EVP Robert Edward Hensley purchased 2,500 shares of Globe Life stock in a transaction that occurred on Tuesday, May 28th. The stock was bought at an average price of $82.17 per share, with a total value of $205,425.00. Following the completion of the transaction, the executive vice president now directly owns 7,290 shares of the company’s stock, valued at $599,019.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Rebecca E. Zorn sold 2,320 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $77.30, for a total value of $179,336.00. Following the transaction, the executive vice president now owns 10,220 shares of the company’s stock, valued at $790,006. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Robert Edward Hensley bought 2,500 shares of Globe Life stock in a transaction on Tuesday, May 28th. The shares were acquired at an average cost of $82.17 per share, with a total value of $205,425.00. Following the completion of the acquisition, the executive vice president now owns 7,290 shares of the company’s stock, valued at approximately $599,019.30. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 6,500 shares of company stock worth $536,860. 1.51% of the stock is owned by corporate insiders.

Institutional Trading of Globe Life

Several hedge funds have recently bought and sold shares of the stock. Lindbrook Capital LLC boosted its holdings in Globe Life by 62.2% in the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after buying an additional 92 shares during the period. Stonegate Investment Group LLC boosted its stake in shares of Globe Life by 0.3% in the fourth quarter. Stonegate Investment Group LLC now owns 34,123 shares of the company’s stock worth $4,153,000 after acquiring an additional 116 shares during the period. Tectonic Advisors LLC raised its stake in Globe Life by 5.3% during the 4th quarter. Tectonic Advisors LLC now owns 2,960 shares of the company’s stock valued at $360,000 after purchasing an additional 150 shares during the period. NBC Securities Inc. lifted its holdings 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 in the last quarter. Finally, Private Trust Co. NA lifted its holdings in Globe Life by 270.0% in the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after purchasing an additional 162 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.

Globe Life Stock Up 2.5 %

Globe Life stock opened at $85.23 on Tuesday. The firm has a 50 day moving average price of $82.89 and a 200-day moving average price of $101.95. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.32. Globe Life has a twelve month low of $38.95 and a twelve month high of $132.00. The company has a market capitalization of $7.67 billion, a P/E ratio of 8.14 and a beta of 0.81.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.01%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.53 earnings per share. As a group, equities analysts predict that Globe Life will post 11.72 EPS for the current year.

Globe Life Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, July 5th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Friday, July 5th. Globe Life’s payout ratio is 9.17%.

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.