Brokerages Set Globe Life Inc. (NYSE:GL) Price Target at $127.10

Globe Life Inc. (NYSE:GL) has been given an average recommendation of “Moderate Buy” by the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $127.10.

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised their price target on shares of Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods lifted their price objective on Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Morgan Stanley increased their target price on shares of Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Jefferies Financial Group boosted their price target on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Finally, TD Cowen initiated coverage on shares of Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective for the company.

Insider Activity

In other news, CEO Frank M. Svoboda sold 14,340 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total transaction of $1,560,192.00. Following the sale, the chief executive officer now owns 16,396 shares in the company, valued at approximately $1,783,884.80. This trade represents a 46.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.51% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GL. UMB Bank n.a. raised its stake in shares of Globe Life by 7.7% during the third quarter. UMB Bank n.a. now owns 1,357 shares of the company’s stock worth $144,000 after acquiring an additional 97 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Globe Life by 4.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company’s stock valued at $373,000 after purchasing an additional 136 shares during the last quarter. Fiduciary Trust Co raised its position in Globe Life by 2.3% in the 3rd quarter. Fiduciary Trust Co now owns 6,329 shares of the company’s stock worth $670,000 after purchasing an additional 144 shares during the period. Farther Finance Advisors LLC lifted its stake in Globe Life by 4.8% in the third quarter. Farther Finance Advisors LLC now owns 3,607 shares of the company’s stock worth $382,000 after purchasing an additional 166 shares during the last quarter. Finally, TrueWealth Advisors LLC boosted its position in Globe Life by 1.3% during the third quarter. TrueWealth Advisors LLC now owns 13,141 shares of the company’s stock valued at $1,392,000 after buying an additional 170 shares during the period. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Trading Up 0.6 %

Shares of Globe Life stock opened at $112.24 on Tuesday. The firm has a market cap of $9.42 billion, a PE ratio of 9.50 and a beta of 0.81. Globe Life has a 1 year low of $38.95 and a 1 year high of $132.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a fifty day moving average price of $108.24 and a 200-day moving average price of $100.68.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.43. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.71 earnings per share. Equities research analysts anticipate that Globe Life will post 12.31 EPS for the current year.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.86%. Globe Life’s dividend payout ratio is currently 8.12%.

About Globe Life

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.