Globe Life Inc. (NYSE:GL) Receives $117.40 Consensus Price Target from Analysts

Globe Life Inc. (NYSE:GL) has earned a consensus rating of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $117.40.

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $118.00 price objective (up from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Morgan Stanley raised their target price on Globe Life from $66.00 to $83.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. TD Cowen assumed coverage on shares of Globe Life in a research note on Wednesday, October 9th. They set a “buy” rating and a $150.00 price target on the stock. Piper Sandler raised their price objective on shares of Globe Life from $106.00 to $118.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Raymond James lifted their price objective on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th.

Globe Life Trading Up 0.6 %

Shares of GL stock opened at $109.72 on Thursday. Globe Life has a 1-year low of $38.95 and a 1-year high of $132.00. The firm has a market cap of $9.88 billion, a PE ratio of 10.48 and a beta of 0.81. The company has a 50-day moving average of $103.87 and a two-hundred day moving average of $90.76. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the company posted $2.61 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. On average, analysts predict that Globe Life will post 11.93 EPS for the current year.

Globe Life Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a $0.24 dividend. The ex-dividend date is Friday, October 4th. This represents a $0.96 dividend on an annualized basis and a yield of 0.87%. Globe Life’s dividend payout ratio is currently 9.17%.

Insider Activity

In other Globe Life news, Director Mary E. Thigpen bought 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, with a total value of $270,600.00. Following the transaction, the director now owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.51% of the company’s stock.

Hedge Funds Weigh In On Globe Life

Several large investors have recently bought and sold shares of the stock. Riverview Trust Co acquired a new position in shares of Globe Life in the 3rd quarter valued at $32,000. Keener Financial Planning LLC purchased a new stake in shares of Globe Life in the first quarter valued at about $49,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Globe Life by 88.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after buying an additional 281 shares during the last quarter. LRI Investments LLC boosted its stake in shares of Globe Life by 898.4% during the second quarter. LRI Investments LLC now owns 619 shares of the company’s stock worth $51,000 after buying an additional 557 shares during the period. Finally, Family Firm Inc. purchased a new position in shares of Globe Life during the second quarter worth about $54,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

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.