Brokerages Set Globe Life Inc. (NYSE:GL) PT at $114.33

Shares of Globe Life Inc. (NYSE:GL) have received a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $114.33.

A number of brokerages recently weighed in on GL. Raymond James reaffirmed a “strong-buy” rating on shares of Globe Life in a research report on Tuesday. Truist Financial reduced their price target on Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. JPMorgan Chase & Co. lifted their price objective on shares of Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. StockNews.com downgraded shares of Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Finally, Piper Sandler decreased their price objective on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th.

Insiders Place Their Bets

In other news, CFO Thomas Peter Kalmbach purchased 500 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was acquired at an average price of $84.43 per share, with a total value of $42,215.00. Following the purchase, the chief financial officer now owns 18,080 shares in the company, valued at approximately $1,526,494.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Thomas Peter Kalmbach purchased 500 shares of Globe Life stock in a transaction on Friday, May 17th. The stock was bought at an average price of $84.43 per share, with a total value of $42,215.00. Following the completion of the transaction, the chief financial officer now directly owns 18,080 shares of the company’s stock, valued at $1,526,494.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO James Matthew Darden acquired 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was bought at an average cost of $84.82 per share, for a total transaction of $169,640.00. Following the completion of the purchase, the chief executive officer now directly owns 37,973 shares in the company, valued at approximately $3,220,869.86. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 4,000 shares of company stock worth $331,435. 1.51% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Globe Life

Several hedge funds have recently made changes to their positions in GL. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Globe Life in the 3rd quarter valued at approximately $464,000. Park Avenue Securities LLC bought a new stake in shares of Globe Life during the third quarter worth $239,000. Fifth Third Bancorp increased its stake in shares of Globe Life by 63.2% in the third quarter. Fifth Third Bancorp now owns 5,454 shares of the company’s stock valued at $593,000 after buying an additional 2,112 shares in the last quarter. New Mexico Educational Retirement Board grew its holdings in Globe Life by 4.5% during the 3rd quarter. New Mexico Educational Retirement Board now owns 4,633 shares of the company’s stock worth $504,000 after acquiring an additional 200 shares during the last quarter. Finally, Empirical Finance LLC increased its position in Globe Life by 10.0% in the 3rd quarter. Empirical Finance LLC now owns 3,197 shares of the company’s stock valued at $348,000 after acquiring an additional 290 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.

Globe Life Stock Performance

NYSE:GL opened at $81.74 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market cap of $7.54 billion, a PE ratio of 7.81 and a beta of 0.78. The firm has a 50 day simple moving average of $90.03 and a 200-day simple moving average of $111.05. Globe Life has a 1-year low of $38.95 and a 1-year high of $132.00.

Globe Life (NYSE:GL) last released its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.01%. Globe Life’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.53 earnings per share. On average, equities analysts expect that Globe Life will post 11.72 EPS for the current year.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be given a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.96 annualized dividend and a dividend yield of 1.17%. Globe Life’s dividend payout ratio (DPR) is presently 9.17%.

About Globe Life

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.