Globe Life Inc. (NYSE:GL) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of Globe Life Inc. (NYSE:GL - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the eleven brokerages that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $137.55.

A number of equities analysts have recently weighed in on GL shares. BMO Capital Markets began coverage on Globe Life in a research report on Thursday, January 23rd. They set a "market perform" rating and a $114.00 target price on the stock. JPMorgan Chase & Co. upped their price objective on shares of Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Wells Fargo & Company reduced their price objective on shares of Globe Life from $141.00 to $140.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Keefe, Bruyette & Woods upped their target price on shares of Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Finally, Evercore ISI upgraded Globe Life from an "in-line" rating to an "outperform" rating and lifted their price target for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th.

Globe Life Stock Up 1.3 %

Shares of NYSE GL traded up $1.55 during trading on Thursday, hitting $122.78. 456,046 shares of the company traded hands, compared to its average volume of 1,139,187. The firm has a market capitalization of $10.22 billion, a price-to-earnings ratio of 10.27 and a beta of 0.60. The business's fifty day moving average is $124.32 and its 200 day moving average is $115.43. 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 has a fifty-two week low of $54.66 and a fifty-two week high of $133.76.

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Globe Life (NYSE:GL - Get Free Report) last posted 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%. Equities research analysts predict 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. Stockholders of record on Thursday, April 3rd will be issued a $0.27 dividend. The ex-dividend date is Thursday, April 3rd. This is a positive change from Globe Life's previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a dividend yield of 0.88%. Globe Life's dividend payout ratio is currently 9.04%.

Insider Activity at Globe Life

In other news, CEO James Matthew Darden sold 24,890 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the completion of the sale, 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 document filed with the SEC, which is available at this hyperlink. Also, CEO Frank M. Svoboda sold 11,000 shares of Globe Life stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the completion of the sale, the chief executive officer now directly owns 18,948 shares in the company, valued at $2,317,529.88. This trade represents a 36.73 % decrease in their position. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by company insiders.

Institutional Trading of Globe Life

A number of large investors have recently bought and sold shares of GL. Net Worth Advisory Group grew its stake in shares of Globe Life by 4.4% during the 1st quarter. Net Worth Advisory Group now owns 6,265 shares of the company's stock worth $825,000 after acquiring an additional 263 shares during the period. First United Bank & Trust purchased a new stake in Globe Life during the first quarter valued at about $219,000. USA Financial Formulas bought a new position in Globe Life during the first quarter worth about $1,177,000. CX Institutional purchased a new position in shares of Globe Life in the first quarter worth about $217,000. Finally, Handelsbanken Fonder AB raised its position in shares of Globe Life by 93.0% in the first quarter. Handelsbanken Fonder AB now owns 41,500 shares of the company's stock valued at $5,466,000 after purchasing an additional 20,000 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

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.