Analysts Set Globe Life Inc. (NYSE:GL) PT at $117.40

Globe Life Inc. (NYSE:GL) has been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $117.40.

Several equities analysts recently weighed in on GL shares. Evercore ISI lifted their price target on Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a research note on Wednesday, June 26th. Raymond James upped their target price on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company lifted their price target on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Piper Sandler increased their price objective on shares of Globe Life from $106.00 to $118.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, TD Cowen started coverage on shares of Globe Life in a research report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price on the stock.

Insider Buying and Selling at Globe Life

In related news, Director Mary E. Thigpen acquired 3,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was bought at an average cost of $90.20 per share, with a total value of $270,600.00. Following the acquisition, the director now directly owns 15,605 shares in the company, valued at approximately $1,407,571. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Globe Life

A number of institutional investors have recently modified their holdings of GL. UMB Bank n.a. grew its holdings in shares of Globe Life by 7.7% during the third quarter. UMB Bank n.a. now owns 1,357 shares of the company’s stock valued at $144,000 after purchasing an additional 97 shares during the last quarter. NBC Securities Inc. boosted its position in Globe Life by 2.7% during the 1st quarter. NBC Securities Inc. now owns 5,803 shares of the company’s stock valued at $675,000 after purchasing an additional 153 shares during the period. Commonwealth Equity Services LLC grew its stake in Globe Life by 0.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock worth $4,082,000 after buying an additional 167 shares during the last quarter. Perigon Wealth Management LLC increased its position in Globe Life by 7.6% in the first quarter. Perigon Wealth Management LLC now owns 2,619 shares of the company’s stock worth $305,000 after buying an additional 184 shares during the period. Finally, Bruce G. Allen Investments LLC lifted its stake in Globe Life by 33.2% in the second quarter. Bruce G. Allen Investments LLC now owns 806 shares of the company’s stock valued at $66,000 after buying an additional 201 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Globe Life Stock Performance

Shares of NYSE:GL opened at $110.19 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a market cap of $9.92 billion, a PE ratio of 10.52 and a beta of 0.81. The firm’s 50 day simple moving average is $103.87 and its 200-day simple moving average is $90.61. Globe Life has a one year low of $38.95 and a one year high of $132.00.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a return on equity of 21.93% and a net margin of 18.47%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the firm earned $2.61 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities analysts predict that Globe Life will post 11.93 EPS for the current year.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.96 annualized dividend and a dividend yield of 0.87%. Globe Life’s dividend payout ratio is presently 9.17%.

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.