Globe Life (NYSE:GL) Now Covered by BMO Capital Markets

BMO Capital Markets began coverage on shares of Globe Life (NYSE:GL) in a research note issued to investors on Thursday, Marketbeat reports. The firm issued a market perform rating and a $114.00 target price on the stock.

Other research analysts have also recently issued research reports about the company. TD Cowen began coverage on Globe Life in a report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price on the stock. Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Wells Fargo & Company raised their price target on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Truist Financial boosted their price objective on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Finally, Piper Sandler raised their target price on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Globe Life has an average rating of “Moderate Buy” and a consensus target price of $132.18.

Globe Life Trading Down 1.8 %

NYSE GL opened at $118.34 on Thursday. The company has a market cap of $9.93 billion, a P/E ratio of 10.01 and a beta of 0.80. Globe Life has a 12 month low of $38.95 and a 12 month high of $132.00. 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 company has a 50-day moving average of $110.67 and a 200-day moving average of $104.13.

Globe Life (NYSE:GL) last issued its quarterly 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 analyst estimates of $1.46 billion. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. Globe Life’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.71 earnings per share. As a group, equities analysts predict that Globe Life will post 12.32 earnings per share for the current year.

Globe Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.81%. Globe Life’s dividend payout ratio (DPR) is presently 8.12%.

Insider Activity

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of the stock in a transaction that occurred 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 $1,783,884.80. This trade represents a 46.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 5,122 shares of the company’s stock, valued at $579,964.06. This trade represents a 36.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 39,788 shares of company stock worth $4,429,779. 1.51% of the stock is currently owned by insiders.

Institutional Trading of Globe Life

Several institutional investors have recently added to or reduced their stakes in GL. State Street Corp boosted its holdings 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 valued at $375,480,000 after buying an additional 115,432 shares during the period. Principal Financial Group Inc. boosted its stake in Globe Life by 9.0% in the third quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock valued at $11,154,000 after acquiring an additional 8,663 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Globe Life by 85.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company’s stock valued at $2,095,000 after acquiring an additional 9,141 shares during the period. Lighthouse Investment Partners LLC acquired a new stake in shares of Globe Life during the 2nd quarter worth approximately $4,018,000. Finally, Stifel Financial Corp lifted its holdings in shares of Globe Life by 2.9% in the 3rd quarter. Stifel Financial Corp now owns 245,930 shares of the company’s stock worth $26,046,000 after purchasing an additional 6,935 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

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.