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

Shares of Globe Life Inc. (NYSE:GL) have received a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $124.50.

A number of research analysts have recently commented on GL shares. TD Cowen started coverage on Globe Life in a report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price objective on the stock. Piper Sandler increased their price objective on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Raymond James increased their price objective on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th. Morgan Stanley increased their price objective on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Finally, Truist Financial increased their price objective on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a report on Friday, October 25th.

Globe Life Stock Up 0.2 %

Shares of Globe Life stock opened at $109.20 on Monday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life has a 1 year low of $38.95 and a 1 year high of $132.00. The stock has a 50-day moving average price of $106.97 and a 200 day moving average price of $94.58. The company has a market cap of $9.17 billion, a P/E ratio of 9.24 and a beta of 0.81.

Globe Life (NYSE:GL) last issued 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. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the firm posted $2.71 EPS. The business’s revenue was up 5.1% compared to the same quarter last year. As a group, analysts expect that Globe Life will post 12.32 EPS for the current fiscal year.

Globe Life Announces Dividend

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

Institutional Trading of Globe Life

A number of hedge funds have recently modified their holdings of the company. Vestcor Inc lifted its position in shares of Globe Life by 145.1% in the 3rd quarter. Vestcor Inc now owns 12,706 shares of the company’s stock worth $1,346,000 after acquiring an additional 7,521 shares during the period. M&T Bank Corp lifted its position in shares of Globe Life by 13.8% in the 3rd quarter. M&T Bank Corp now owns 18,512 shares of the company’s stock worth $1,961,000 after acquiring an additional 2,252 shares during the period. LRI Investments LLC lifted its position in shares of Globe Life by 31.5% in the 3rd quarter. LRI Investments LLC now owns 814 shares of the company’s stock worth $89,000 after acquiring an additional 195 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in shares of Globe Life by 24.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,963 shares of the company’s stock worth $208,000 after acquiring an additional 388 shares during the period. Finally, National Bank of Canada FI lifted its position in shares of Globe Life by 27.0% in the 3rd quarter. National Bank of Canada FI now owns 29,219 shares of the company’s stock worth $3,095,000 after acquiring an additional 6,210 shares during the period. Institutional investors own 81.61% of the company’s stock.

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.