Brokerages Set Globe Life Inc. (NYSE:GL) PT at $152.45

Shares of Globe Life Inc. (NYSE:GL) have earned an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $152.4545.

Several research analysts have recently weighed in on GL shares. Truist Financial started coverage on shares of Globe Life in a research report on Tuesday, July 15th. They set a “buy” rating and a $150.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on shares of Globe Life from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods boosted their price target on shares of Globe Life from $145.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Morgan Stanley boosted their price objective on shares of Globe Life from $166.00 to $171.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Finally, Cfra Research upgraded shares of Globe Life to a “moderate buy” rating in a report on Friday, July 25th.

Globe Life Trading Down 2.5%

Shares of GL stock opened at $134.16 on Thursday. The company’s 50-day moving average price is $140.58 and its 200-day moving average price is $128.61. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.43. The stock has a market cap of $10.87 billion, a price-to-earnings ratio of 10.72 and a beta of 0.55. Globe Life has a twelve month low of $100.27 and a twelve month high of $147.83.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share for the quarter, beating the consensus estimate of $3.25 by $0.02. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.97 EPS. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. As a group, equities analysts predict that Globe Life will post 13.87 earnings per share for the current year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, October 3rd. Globe Life’s payout ratio is 8.63%.

Insider Activity at Globe Life

In related news, EVP Michael Clay Majors sold 10,000 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $137.41, for a total value of $1,374,100.00. Following the sale, the executive vice president directly owned 47,066 shares in the company, valued at approximately $6,467,339.06. The trade was a 17.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the business’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $140.97, for a total transaction of $4,081,363.44. Following the completion of the sale, the chief financial officer owned 30,665 shares in the company, valued at approximately $4,322,845.05. This trade represents a 48.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,722 shares of company stock valued at $11,733,793 in the last quarter. Corporate insiders own 1.97% of the company’s stock.

Institutional Trading of Globe Life

A number of institutional investors and hedge funds have recently bought and sold shares of GL. Wealth Enhancement Advisory Services LLC increased its stake in Globe Life by 5.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 20,938 shares of the company’s stock worth $2,335,000 after purchasing an additional 1,159 shares during the period. Versant Capital Management Inc increased its stake in Globe Life by 140.2% during the first quarter. Versant Capital Management Inc now owns 586 shares of the company’s stock worth $77,000 after purchasing an additional 342 shares during the period. Parallel Advisors LLC increased its stake in Globe Life by 7.3% during the first quarter. Parallel Advisors LLC now owns 1,553 shares of the company’s stock worth $205,000 after purchasing an additional 106 shares during the period. Rhumbline Advisers increased its stake in Globe Life by 4.3% during the first quarter. Rhumbline Advisers now owns 209,018 shares of the company’s stock worth $27,532,000 after purchasing an additional 8,531 shares during the period. Finally, Czech National Bank increased its stake in Globe Life by 5.9% during the first quarter. Czech National Bank now owns 19,280 shares of the company’s stock worth $2,540,000 after purchasing an additional 1,079 shares during the period. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

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.