Globe Life Inc. (NYSE:GL) Stock Has Average Price Target of $190.44

Globe Life Inc. (NYSE:GL) has received an average rating of “Moderate Buy” from the eleven analysts that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $190.22.

Several analysts have recently weighed in on GL shares. Jefferies Financial Group lifted their target price on shares of Globe Life from $147.00 to $166.00 and gave the company a “hold” rating in a report on Friday, July 10th. Weiss Ratings lowered Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, October 6th. Wells Fargo & Company lifted their price objective on Globe Life from $190.00 to $191.00 and gave the company an “overweight” rating in a report on Monday. Keefe, Bruyette & Woods dropped their target price on Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, July 24th. Finally, TD Cowen raised their target price on Globe Life from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd.

Globe Life Stock Performance

Shares of Globe Life stock opened at $167.43 on Monday. The firm’s fifty day simple moving average is $172.11 and its 200-day simple moving average is $166.02. The stock has a market capitalization of $12.87 billion, a price-to-earnings ratio of 11.12 and a beta of 0.44. Globe Life has a 12 month low of $127.85 and a 12 month high of $191.55. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.07 and a quick ratio of 0.07.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $3.61 earnings per share for the quarter, missing analysts’ consensus estimates of $3.67 by ($0.06). Globe Life had a return on equity of 20.52% and a net margin of 19.58%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the business posted $3.05 earnings per share. The firm’s revenue was up 8.0% compared to the same quarter last year. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. As a group, equities analysts forecast that Globe Life will post 15.70 earnings per share for the current year.

Globe Life announced that its board has authorized a share repurchase program on Monday, August 10th that permits the company to buy back $2.50 billion in outstanding shares. This repurchase authorization permits the company to buy up to 17.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Globe Life Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be issued a $0.33 dividend. The ex-dividend date is Monday, October 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.8%. Globe Life’s dividend payout ratio is currently 8.76%.

Insider Transactions at Globe Life

In related news, CEO James Darden sold 50,000 shares of Globe Life stock in a transaction on Friday, July 31st. The stock was sold at an average price of $182.43, for a total transaction of $9,121,500.00. Following the completion of the transaction, the chief executive officer directly owned 58,451 shares of the company’s stock, valued at approximately $10,663,215.93. The trade was a 46.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Robert Hensley sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $170.07, for a total value of $1,700,700.00. Following the completion of the transaction, the executive vice president owned 12,384 shares of the company’s stock, valued at approximately $2,106,146.88. This represents a 44.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 143,650 shares of company stock valued at $25,793,717. Company insiders own 2.11% of the company’s stock.

Hedge Funds Weigh In On Globe Life

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in Globe Life during the second quarter worth about $987,901,000. Pzena Investment Management LLC acquired a new position in Globe Life during the second quarter worth approximately $242,256,000. Equity Investment Corp acquired a new position in Globe Life during the second quarter worth approximately $122,971,000. Bank of America Corp DE acquired a new position in Globe Life during the second quarter worth approximately $121,638,000. Finally, Bank of New York Mellon Corp purchased a new position in Globe Life during the second quarter worth approximately $97,182,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

About Globe Life

Globe Life Inc (NYSE: GL) is an insurance holding company that provides life and supplemental health insurance products to individuals and families in the United States. Its offerings include term and whole life insurance, mortgage protection coverage, accident and supplemental health policies, and Medicare supplement insurance.

The company distributes its products through a network of insurance agencies, independent agents, and direct-to-consumer channels. Its principal insurance businesses include Globe Life and Accident Insurance Company, American Income Life Insurance Company, Liberty National Life Insurance Company, and Family Heritage Life Insurance Company.