Globe Life Inc. (NYSE:GL) Receives $124.50 Average PT from Brokerages

Globe Life Inc. (NYSE:GL) has received an average rating of “Moderate Buy” from the ten analysts that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $124.50.

A number of equities research analysts have issued reports on GL shares. Piper Sandler raised their target price on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Morgan Stanley raised their target price on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Wells Fargo & Company raised their target price on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Truist Financial raised their target price on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods raised their price target on Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th.

Globe Life Stock Performance

Shares of GL opened at $109.20 on Monday. The business’s fifty day moving average price is $106.97 and its 200 day moving average price is $94.81. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00. The stock has a market capitalization of $9.17 billion, a PE ratio of 9.24 and a beta of 0.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.43. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the business posted $2.71 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts forecast that Globe Life will post 12.31 EPS for the current year.

Globe Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 8th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.88%. Globe Life’s payout ratio is currently 8.12%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Globe Life by 3.9% during the first quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock worth $1,309,755,000 after acquiring an additional 425,993 shares during the period. State Street Corp increased its stake in Globe Life by 3.4% in the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after purchasing an additional 115,432 shares in the last quarter. Geode Capital Management LLC raised its holdings in Globe Life by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock worth $276,994,000 after buying an additional 89,299 shares during the period. Boston Partners lifted its stake in Globe Life by 6.4% during the first quarter. Boston Partners now owns 2,092,526 shares of the company’s stock valued at $243,200,000 after buying an additional 125,457 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Globe Life by 104.3% in the second quarter. Bank of New York Mellon Corp now owns 1,611,294 shares of the company’s stock worth $132,577,000 after buying an additional 822,638 shares during the period. 81.61% of the stock is owned by institutional investors and hedge funds.

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.