Brokerages Set Globe Life Inc. (NYSE:GL) PT at $135.60

Shares of Globe Life Inc. (NYSE:GL) have been given a consensus rating of “Moderate Buy” by the ten analysts that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $135.60.

A number of analysts have recently issued reports on the company. Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and increased their target price for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. Keefe, Bruyette & Woods raised their price objective on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. BMO Capital Markets assumed coverage on Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 target price on the stock. Jefferies Financial Group raised their price target on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Finally, Wells Fargo & Company upped their price objective on shares of Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th.

Insiders Place Their Bets

In related news, CEO James Matthew Darden sold 24,890 shares of Globe Life stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total value of $3,024,632.80. Following the transaction, the chief executive officer now owns 38,973 shares in the company, valued at $4,735,998.96. This trade represents a 38.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Frank M. Svoboda sold 13,448 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the transaction, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at approximately $2,132,786.88. This represents a 41.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,338 shares of company stock valued at $7,239,630 over the last quarter. Insiders own 1.51% of the company’s stock.

Hedge Funds Weigh In On Globe Life

Institutional investors have recently made changes to their positions in the business. Versor Investments LP acquired a new stake in shares of Globe Life in the third quarter worth $360,000. Victory Capital Management Inc. grew its position in Globe Life by 38.9% in the 3rd quarter. Victory Capital Management Inc. now owns 421,018 shares of the company’s stock worth $44,590,000 after purchasing an additional 117,839 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Globe Life by 13.3% during the 3rd quarter. CIBC Asset Management Inc now owns 12,777 shares of the company’s stock worth $1,353,000 after purchasing an additional 1,495 shares during the period. Mutual of America Capital Management LLC raised its position in shares of Globe Life by 4.4% during the third quarter. Mutual of America Capital Management LLC now owns 11,060 shares of the company’s stock valued at $1,171,000 after buying an additional 471 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of Globe Life by 4.0% during the third quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company’s stock valued at $373,000 after buying an additional 136 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors.

Globe Life Price Performance

NYSE GL opened at $128.65 on Friday. Globe Life has a 1 year low of $38.95 and a 1 year high of $131.39. The business’s fifty day moving average is $122.24 and its two-hundred day moving average is $112.77. The stock has a market capitalization of $10.79 billion, a P/E ratio of 10.77 and a beta of 0.77. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, topping analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. On average, research analysts forecast that Globe Life will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.84%. This is an increase from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, April 3rd. Globe Life’s dividend payout ratio is presently 9.04%.

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.