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

Globe Life Inc. (NYSE:GL) has earned a consensus rating of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $127.10.

A number of brokerages have recently issued reports on GL. Jefferies Financial Group boosted their price target on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. TD Cowen began coverage on shares of Globe Life in a report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price on the stock. Truist Financial increased their price target on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Wells Fargo & Company boosted their price objective on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods raised their target price on Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th.

Insider Buying and Selling at Globe Life

In other news, CEO Frank M. Svoboda sold 14,340 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 16,396 shares of the company’s stock, valued at $1,783,884.80. The trade was a 46.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.51% of the company’s stock.

Hedge Funds Weigh In On Globe Life

A number of hedge funds have recently added to or reduced their stakes in the stock. Riverview Trust Co purchased a new position in Globe Life during the 3rd quarter worth $32,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of Globe Life by 88.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after purchasing an additional 281 shares in the last quarter. True Wealth Design LLC purchased a new position in Globe Life during the third quarter worth about $59,000. Quarry LP grew its position in Globe Life by 47.5% in the 2nd quarter. Quarry LP now owns 838 shares of the company’s stock worth $69,000 after purchasing an additional 270 shares in the last quarter. Finally, Private Trust Co. NA increased its stake in Globe Life by 67.5% in the 3rd quarter. Private Trust Co. NA now owns 670 shares of the company’s stock valued at $71,000 after buying an additional 270 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Stock Performance

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

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

Globe Life Dividend Announcement

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

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.