Globe Life Inc. (NYSE:GL - Get Free Report) has been given an average recommendation of "Moderate Buy" by the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $124.50.
A number of equities research analysts have issued reports on GL shares. Keefe, Bruyette & Woods boosted their target price on shares of Globe Life from $120.00 to $125.00 and gave the company an "outperform" rating in a report on Tuesday, October 29th. Piper Sandler boosted their price objective on Globe Life from $118.00 to $130.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Raymond James raised their target price on Globe Life from $160.00 to $188.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, October 15th. Truist Financial upped their price target on Globe Life from $90.00 to $105.00 and gave the company a "hold" rating in a research report on Friday, October 25th. Finally, TD Cowen assumed coverage on shares of Globe Life in a research report on Wednesday, October 9th. They issued a "buy" rating and a $150.00 price objective for the company.
Check Out Our Latest Stock Report on GL
Globe Life Stock Performance
GL traded down $1.85 during trading hours on Friday, hitting $104.76. The stock had a trading volume of 858,981 shares, compared to its average volume of 1,475,409. Globe Life has a 1 year low of $38.95 and a 1 year high of $132.00. The company's fifty day simple moving average is $108.12 and its 200 day simple moving average is $97.10. The stock has a market cap of $8.79 billion, a PE ratio of 9.02 and a beta of 0.81. 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 (NYSE:GL - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share 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 the consensus estimate of $1.46 billion. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The company's revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $2.71 earnings per share. Equities analysts anticipate that Globe Life will post 12.31 earnings per share 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 given a $0.24 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.92%. Globe Life's payout ratio is 8.12%.
Insider Buying and Selling at Globe Life
In related news, CEO Frank M. Svoboda sold 14,340 shares of the firm's 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 directly owns 16,396 shares in the company, valued at $1,783,884.80. This trade represents a 46.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.51% of the company's stock.
Institutional Trading of Globe Life
A number of institutional investors have recently made changes to their positions in GL. Riverview Trust Co bought a new stake in Globe Life during the 3rd quarter valued at $32,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Globe Life by 88.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company's stock valued at $50,000 after acquiring an additional 281 shares during the last quarter. LRI Investments LLC boosted its holdings in shares of Globe Life by 898.4% during the second quarter. LRI Investments LLC now owns 619 shares of the company's stock worth $51,000 after purchasing an additional 557 shares during the period. Family Firm Inc. purchased a new stake in shares of Globe Life during the second quarter worth about $54,000. Finally, True Wealth Design LLC purchased a new position in Globe Life during the 3rd quarter valued at about $59,000. Hedge funds and other institutional investors own 81.61% of the company's stock.
About Globe Life
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Get Free ReportGlobe 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.
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