Brokerages Set Globe Life Inc. (NYSE:GL) Price Target at $132.18

Globe Life Inc. (NYSE:GL) has earned a consensus rating of “Moderate Buy” from the eleven brokerages that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $132.18.

Several research firms have weighed in on GL. Wells Fargo & Company lifted their target price on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Raymond James lifted their target price on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 15th. Jefferies Financial Group lifted their target price on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods lifted their target price on Globe Life from $135.00 to $137.00 and gave the company an “outperform” rating in a research report on Friday, January 10th.

Insider Activity

In other news, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $113.23, for a total value of $339,690.00. Following the completion of the sale, the director now directly owns 5,122 shares in the company, valued at approximately $579,964.06. The trade was a 36.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $112.91, for a total value of $1,016,190.00. Following the completion of the sale, the chief marketing officer now owns 13,485 shares of the company’s stock, valued at $1,522,591.35. This trade represents a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,788 shares of company stock worth $4,429,779. 1.51% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. boosted its position in Globe Life by 7.7% during the 3rd quarter. UMB Bank n.a. now owns 1,357 shares of the company’s stock worth $144,000 after acquiring an additional 97 shares during the period. Ballentine Partners LLC boosted its position in Globe Life by 4.5% during the 4th quarter. Ballentine Partners LLC now owns 2,803 shares of the company’s stock worth $313,000 after acquiring an additional 121 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Globe Life by 4.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company’s stock worth $373,000 after buying an additional 136 shares in the last quarter. Fiduciary Trust Co raised its stake in shares of 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 buying an additional 144 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Globe Life by 0.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,923 shares of the company’s stock worth $2,110,000 after buying an additional 144 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Stock Up 1.3 %

NYSE GL opened at $120.90 on Friday. Globe Life has a 52 week low of $38.95 and a 52 week high of $132.00. 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’s fifty day simple moving average is $111.10 and its 200-day simple moving average is $104.96. The firm has a market cap of $10.15 billion, a PE ratio of 10.23 and a beta of 0.80.

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders 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 dividend yield of 0.79%. Globe Life’s dividend payout ratio (DPR) 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.