Globe Life Inc. (NYSE:GL) Receives $124.50 Consensus Price Target from Analysts

Globe Life Inc. (NYSE:GL) has been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $127.10.

A number of analysts recently weighed in on the stock. Jefferies Financial Group upped their target price on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research note on Tuesday. Morgan Stanley upped their price objective on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Truist Financial raised their target price on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Raymond James boosted their price target on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company increased their price objective on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Globe Life

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Savant Capital LLC raised its stake in shares of Globe Life by 951.5% during the second quarter. Savant Capital LLC now owns 75,214 shares of the company’s stock worth $6,189,000 after buying an additional 68,061 shares during the last quarter. Achmea Investment Management B.V. raised its position in shares of Globe Life by 151.4% during the 2nd quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company’s stock valued at $2,443,000 after acquiring an additional 17,878 shares during the last quarter. WINTON GROUP Ltd acquired a new position in shares of Globe Life in the 2nd quarter valued at $15,483,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Globe Life by 85.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company’s stock valued at $2,095,000 after purchasing an additional 9,141 shares during the period. Finally, State Street Corp boosted its position in shares of Globe Life by 3.4% in the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after purchasing an additional 115,432 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Globe Life Price Performance

Shares of GL stock opened at $103.60 on Friday. Globe Life has a 12 month low of $38.95 and a 12 month high of $132.00. The company has a market capitalization of $8.70 billion, a P/E ratio of 8.76 and a beta of 0.81. The stock has a 50 day moving average of $108.09 and a two-hundred day moving average of $97.73. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.06 by $0.43. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. Globe Life’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the business earned $2.71 earnings per share. As a group, equities analysts expect that Globe Life will post 12.31 EPS for the current year.

Globe Life Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 8th will be issued a $0.24 dividend. The ex-dividend date is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.93%. Globe Life’s dividend payout ratio is 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.