Brokerages Set Globe Life Inc. (NYSE:GL) PT at $127.10

Shares of Globe Life Inc. (NYSE:GL - Get Free Report) have earned a consensus rating of "Moderate Buy" from the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $127.10.

Several analysts recently issued reports on GL shares. Piper Sandler upped their price objective on shares of Globe Life from $118.00 to $130.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Raymond James upped their price objective on shares of Globe Life from $160.00 to $188.00 and gave the company a "strong-buy" rating in a research report on Tuesday, October 15th. TD Cowen assumed coverage on Globe Life in a research note on Wednesday, October 9th. They issued a "buy" rating and a $150.00 target price for the company. Jefferies Financial Group increased their price objective on shares of Globe Life from $107.00 to $114.00 and gave the company a "hold" rating in a research note on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods upped their price objective on Globe Life from $120.00 to $125.00 and gave the company an "outperform" rating in a research note on Tuesday, October 29th.

Globe Life Stock Up 1.4 %

GL stock traded up $1.57 during trading hours on Tuesday, hitting $111.52. The company's stock had a trading volume of 538,991 shares, compared to its average volume of 1,435,554. The company has a market capitalization of $9.36 billion, a PE ratio of 9.43 and a beta of 0.81. The stock has a 50 day moving average price of $108.16 and a two-hundred day moving average price of $100.28. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life has a 12 month low of $38.95 and a 12 month high of $132.00.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, beating analysts' consensus estimates of $3.06 by $0.43. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the firm posted $2.71 EPS. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities research analysts expect that Globe Life will post 12.31 earnings per share for the current year.

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be given 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 dividend yield of 0.86%. Globe Life's payout ratio is 8.12%.

Insider Activity at Globe Life

In related news, CEO Frank M. Svoboda sold 14,340 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the transaction, the chief executive officer now owns 16,396 shares in the company, valued at $1,783,884.80. This trade represents a 46.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.51% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Savant Capital LLC raised its stake in shares of Globe Life by 951.5% during the second quarter. Savant Capital LLC now owns 75,214 shares of the company's stock worth $6,189,000 after buying an additional 68,061 shares during the last quarter. Achmea Investment Management B.V. raised its position in shares of Globe Life by 151.4% during the 2nd quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company's stock valued at $2,443,000 after acquiring an additional 17,878 shares during the last quarter. WINTON GROUP Ltd acquired a new position in shares of Globe Life in the 2nd quarter valued at $15,483,000. State Street Corp boosted its position 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 worth $375,480,000 after purchasing an additional 115,432 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Globe Life by 85.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company's stock worth $2,095,000 after purchasing an additional 9,141 shares during the period. 81.61% of the stock is currently owned by institutional investors and hedge funds.

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.