Globe Life Inc. (NYSE:GL) Receives $137.73 Average Price Target from Analysts

Shares of Globe Life Inc. (NYSE:GLGet Free Report) have been assigned an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $137.73.

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company lowered their price objective on Globe Life from $140.00 to $139.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. JPMorgan Chase & Co. lifted their target price on Globe Life from $136.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Wall Street Zen raised Globe Life from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Keefe, Bruyette & Woods lifted their target price on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Morgan Stanley lifted their target price on Globe Life from $117.00 to $125.00 and gave the company an “equal weight” rating in a report on Monday, May 19th.

Get Our Latest Research Report on GL

Globe Life Trading Up 0.8%

Shares of Globe Life stock opened at $121.89 on Friday. Globe Life has a 52-week low of $76.55 and a 52-week high of $133.76. The stock’s 50-day simple moving average is $122.02 and its 200 day simple moving average is $118.64. The stock has a market capitalization of $10.06 billion, a P/E ratio of 10.20 and a beta of 0.56. 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 (NYSE:GLGet Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $3.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.17). Globe Life had a net margin of 18.53% and a return on equity of 22.32%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the firm posted $2.78 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. As a group, research analysts anticipate that Globe Life will post 13.87 EPS for the current year.

Globe Life Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, July 3rd. Globe Life’s payout ratio is 8.79%.

Insider Transactions at Globe Life

In other news, CEO Frank M. Svoboda sold 6,019 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $122.51, for a total transaction of $737,387.69. Following the completion of the transaction, the chief executive officer now owns 31,298 shares of the company’s stock, valued at approximately $3,834,317.98. The trade was a 16.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.51% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of GL. Raymond James Financial Inc. bought a new stake in Globe Life in the 4th quarter worth approximately $61,238,000. Lighthouse Investment Partners LLC lifted its position in Globe Life by 914.9% in the 4th quarter. Lighthouse Investment Partners LLC now owns 128,266 shares of the company’s stock worth $14,304,000 after buying an additional 115,628 shares during the last quarter. Prudential Financial Inc. lifted its position in Globe Life by 50.0% in the 4th quarter. Prudential Financial Inc. now owns 82,749 shares of the company’s stock worth $9,069,000 after buying an additional 27,590 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in Globe Life by 61.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,665 shares of the company’s stock worth $2,751,000 after buying an additional 9,395 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in Globe Life by 56.0% in the 4th quarter. Pacer Advisors Inc. now owns 10,199 shares of the company’s stock worth $1,137,000 after buying an additional 3,662 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Company Profile

(Get Free Report

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.

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Analyst Recommendations for Globe Life (NYSE:GL)

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