Globe Life Inc. (NYSE:GL) Receives Average Recommendation of “Moderate Buy” from Brokerages

Globe Life Inc. (NYSE:GL) has earned an average recommendation of “Moderate Buy” from the ten ratings firms that are covering the stock, MarketBeat.com reports. Four research 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 twelve-month target price among brokers that have updated their coverage on the stock in the last year is $135.60.

GL has been the subject of several recent analyst reports. Jefferies Financial Group lifted their target price on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Morgan Stanley lifted their target price on shares of Globe Life from $125.00 to $126.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Keefe, Bruyette & Woods lifted their target price on shares of Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. Finally, BMO Capital Markets started coverage on shares of Globe Life in a research note on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price objective for the company.

Globe Life Trading Up 3.0 %

Shares of GL opened at $125.56 on Friday. 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 firm has a 50 day simple moving average of $121.05 and a 200-day simple moving average of $112.19. Globe Life has a 1-year low of $38.95 and a 1-year high of $131.39. The stock has a market cap of $10.53 billion, a price-to-earnings ratio of 10.51 and a beta of 0.77.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, topping analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. Equities analysts forecast that Globe Life will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be issued a dividend of $0.27 per share. This is a positive change from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, April 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.86%. Globe Life’s payout ratio is presently 9.04%.

Insider Activity at Globe Life

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the transaction, the director now owns 5,122 shares in the company, valued at $579,964.06. The trade was a 36.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Frank M. Svoboda sold 11,000 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the completion of the transaction, the chief executive officer now owns 18,948 shares in the company, valued at $2,317,529.88. This represents a 36.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,338 shares of company stock worth $7,239,630. 1.51% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Globe Life

A number of institutional investors have recently added to or reduced their stakes in GL. Versant Capital Management Inc increased its position in shares of Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after purchasing an additional 194 shares during the last quarter. Albion Financial Group UT bought a new stake in shares of Globe Life in the 4th quarter worth about $28,000. Rakuten Securities Inc. bought a new stake in shares of Globe Life in the 4th quarter worth about $28,000. Avalon Trust Co bought a new stake in shares of Globe Life in the 4th quarter worth about $41,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $41,000 after purchasing an additional 90 shares during the last quarter. 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.