Weekly Investment Analysts’ Ratings Changes for Globe Life (GL)

Globe Life (NYSE: GL) recently received a number of ratings updates from brokerages and research firms:

• 7/10/2024 – Globe Life had its price target raised by analysts at Morgan Stanley from $62.00 to $65.00. They now have an “equal weight” rating on the stock.
• 6/28/2024 – Globe Life had its price target lowered by analysts at Piper Sandler from $110.00 to $105.00. They now have an “overweight” rating on the stock.
• 6/28/2024 – Globe Life had its price target raised by analysts at Jefferies Financial Group Inc. from $85.00 to $88.00. They now have a “hold” rating on the stock.
• 6/26/2024 – Globe Life had its price target raised by analysts at Evercore ISI from $83.00 to $86.00. They now have an “in-line” rating on the stock.
• 5/21/2024 – Globe Life had its “strong-buy” rating reaffirmed by analysts at Raymond James.

Globe Life Stock Up 2.0 %

Shares of NYSE GL traded up $1.70 during mid-day trading on Tuesday, reaching $88.51. 1,075,115 shares of the company traded hands, compared to its average volume of 2,001,422. The company’s fifty day moving average is $83.18 and its two-hundred day moving average is $101.18. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The stock has a market cap of $7.97 billion, a PE ratio of 8.45 and a beta of 0.81.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). Globe Life had a return on equity of 23.01% and a net margin of 18.07%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the business earned $2.53 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, analysts expect that Globe Life Inc. will post 11.75 earnings per share for the current year.

Globe Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, July 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.08%. Globe Life’s payout ratio is currently 9.17%.

Insider Activity

In other Globe Life news, Director David A. Rodriguez purchased 1,500 shares of the stock in a transaction dated Wednesday, April 24th. The stock was bought at an average price of $79.72 per share, for a total transaction of $119,580.00. Following the transaction, the director now directly owns 4,192 shares in the company, valued at $334,186.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Globe Life news, Director David A. Rodriguez bought 1,500 shares of Globe Life stock in a transaction on Wednesday, April 24th. The shares were purchased at an average cost of $79.72 per share, for a total transaction of $119,580.00. Following the completion of the acquisition, the director now owns 4,192 shares in the company, valued at approximately $334,186.24. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO James Matthew Darden acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was acquired at an average price of $84.82 per share, with a total value of $169,640.00. Following the completion of the transaction, the chief executive officer now directly owns 37,973 shares in the company, valued at approximately $3,220,869.86. The disclosure for this purchase can be found here. Insiders have bought 6,500 shares of company stock valued at $536,860 over the last 90 days. 1.51% of the stock is owned by company insiders.

Institutional Trading of Globe Life

A number of hedge funds have recently made changes to their positions in the business. Public Sector Pension Investment Board lifted its holdings in Globe Life by 4.1% during the 3rd quarter. Public Sector Pension Investment Board now owns 20,613 shares of the company’s stock worth $2,241,000 after purchasing an additional 804 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Globe Life by 14.5% during the third quarter. Deutsche Bank AG now owns 228,634 shares of the company’s stock worth $24,859,000 after buying an additional 29,002 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Globe Life by 9.8% in the third quarter. American Century Companies Inc. now owns 46,600 shares of the company’s stock valued at $5,067,000 after acquiring an additional 4,157 shares during the period. Vanguard Group Inc. grew its stake in shares of Globe Life by 1.7% in the third quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock valued at $1,183,175,000 after acquiring an additional 181,824 shares in the last quarter. Finally, BKM Wealth Management LLC bought a new position in Globe Life during the fourth quarter worth about $28,000. 81.61% of the stock is owned by institutional investors and hedge funds.

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.