Globe Life Inc. (NYSE:GL) Stock Has Consensus Price Target of $190.44 According to Brokerages

Shares of Globe Life Inc. (NYSE:GL) have earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $189.56.

Several equities research analysts have issued reports on the stock. TD Cowen boosted their price target on shares of Globe Life from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Morgan Stanley dropped their target price on Globe Life from $208.00 to $197.00 and set an “overweight” rating on the stock in a report on Monday, October 5th. JPMorgan Chase & Co. increased their price target on Globe Life from $193.00 to $195.00 and gave the company an “overweight” rating in a research report on Thursday. Wells Fargo & Company increased their price target on Globe Life from $190.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. Finally, Weiss Ratings downgraded Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, October 6th.

Insider Activity

In other news, CFO Thomas Kalmbach sold 25,650 shares of Globe Life stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $178.58, for a total value of $4,580,577.00. Following the completion of the transaction, the chief financial officer owned 50,568 shares of the company’s stock, valued at $9,030,433.44. This trade represents a 33.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James Darden sold 50,000 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $182.43, for a total transaction of $9,121,500.00. Following the transaction, the chief executive officer owned 58,451 shares in the company, valued at $10,663,215.93. This represents a 46.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 143,650 shares of company stock valued at $25,793,717 in the last ninety days. Corporate insiders own 2.11% of the company’s stock.

Institutional Investors Weigh In On Globe Life

Several hedge funds have recently bought and sold shares of GL. Johnson Financial Group Inc. bought a new stake in Globe Life in the second quarter valued at approximately $39,000. AdvisorNet Financial Inc boosted its stake in shares of Globe Life by 41.1% during the 1st quarter. AdvisorNet Financial Inc now owns 316 shares of the company’s stock worth $44,000 after acquiring an additional 92 shares during the period. Fortitude Family Office LLC increased its holdings in shares of Globe Life by 94.6% during the 3rd quarter. Fortitude Family Office LLC now owns 327 shares of the company’s stock worth $54,000 after acquiring an additional 159 shares during the last quarter. Hilton Head Capital Partners LLC increased its holdings in shares of Globe Life by 55.4% during the 1st quarter. Hilton Head Capital Partners LLC now owns 331 shares of the company’s stock worth $46,000 after acquiring an additional 118 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Globe Life by 42.0% during the 2nd quarter. Assetmark Inc. now owns 426 shares of the company’s stock worth $76,000 after acquiring an additional 126 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Price Performance

Shares of GL opened at $168.49 on Monday. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.43. Globe Life has a twelve month low of $127.85 and a twelve month high of $191.55. The stock has a market capitalization of $12.95 billion, a P/E ratio of 11.19 and a beta of 0.44. The company has a 50 day moving average of $171.45 and a 200-day moving average of $166.47.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, July 22nd. The company reported $3.61 EPS for the quarter, missing the consensus estimate of $3.67 by ($0.06). Globe Life had a return on equity of 20.52% and a net margin of 19.58%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the company posted $3.05 EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. As a group, equities research analysts forecast that Globe Life will post 15.70 EPS for the current fiscal year.

Globe Life declared that its board has authorized a stock repurchase plan on Monday, August 10th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the company to purchase up to 17.7% of its shares through open market purchases. Share repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Monday, October 5th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, October 5th. Globe Life’s dividend payout ratio is presently 8.76%.

Globe Life Company Profile

Globe Life Inc (NYSE: GL) is an insurance holding company that provides individual life and supplemental health insurance products through a network of wholly owned subsidiaries. Its offerings are designed primarily for middle-income households and include term and whole life insurance, mortgage protection coverage, accident and supplemental health insurance, Medicare supplement policies, and annuities.

The company markets its products through several distribution channels, including exclusive and independent agency networks, direct-to-consumer sales, and workplace or union-affiliated programs.