Globe Life Inc. (GL) – What Are Brokerages Saying About This Stock?

Globe Life Inc. (NYSE:GL) has earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $181.50.

A number of brokerages recently weighed in on GL. Weiss Ratings upgraded Globe Life from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, October 21st. Wells Fargo & Company decreased their target price on Globe Life from $191.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday, October 26th. JPMorgan Chase & Co. increased their price objective on shares of Globe Life from $193.00 to $195.00 and gave the company an “overweight” rating in a research report on Thursday, October 15th. TD Cowen lowered their price objective on Globe Life from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, October 23rd. Finally, UBS Group set a $165.00 target price on shares of Globe Life in a research report on Friday, October 23rd.

Globe Life Stock Up 1.1%

GL stock opened at $163.56 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.07 and a quick ratio of 0.07. Globe Life has a 12 month low of $129.21 and a 12 month high of $191.55. The firm has a market capitalization of $12.34 billion, a PE ratio of 10.94 and a beta of 0.47. The company’s 50 day simple moving average is $166.45 and its 200-day simple moving average is $160.34.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, October 21st. The company reported $4.84 EPS for the quarter, missing analysts’ consensus estimates of $4.90 by ($0.06). Globe Life had a net margin of 18.89% and a return on equity of 19.51%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the company posted $4.81 EPS. Globe Life’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities analysts expect that Globe Life will post 15.48 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 1st. Shareholders of record on Friday, January 8th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, January 8th. Globe Life’s payout ratio is presently 8.83%.

Globe Life declared that its Board of Directors has approved a share buyback plan on Monday, August 10th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the company to reacquire up to 17.7% of its shares through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, EVP Robert Hensley sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $170.07, for a total value of $1,700,700.00. Following the sale, the executive vice president owned 12,384 shares of the company’s stock, valued at approximately $2,106,146.88. This trade represents a 44.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael Majors sold 14,377 shares of the business’s stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $154.48, for a total value of $2,220,958.96. Following the transaction, the executive vice president owned 39,141 shares of the company’s stock, valued at $6,046,501.68. This represents a 26.86% decrease in their position. The SEC filing for this sale provides additional information. 2.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Globe Life

Several large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Globe Life during the second quarter worth approximately $987,901,000. State Street Corp raised its stake in Globe Life by 2.1% during the 2nd quarter. State Street Corp now owns 3,735,409 shares of the company’s stock valued at $667,443,000 after acquiring an additional 76,745 shares in the last quarter. Pzena Investment Management LLC boosted its position in Globe Life by 156.6% during the 3rd quarter. Pzena Investment Management LLC now owns 3,479,093 shares of the company’s stock worth $576,312,000 after acquiring an additional 2,123,282 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Globe Life by 10.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,353,192 shares of the company’s stock worth $327,479,000 after purchasing an additional 217,331 shares in the last quarter. Finally, Equity Investment Corp bought a new position in shares of Globe Life in the second quarter worth $122,971,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

About Globe Life

Globe Life Inc. is a U.S.-based insurance holding company that provides life and supplemental health insurance through its subsidiaries. Its products include term and whole life insurance, Medicare Supplement insurance, and supplemental health coverage such as accident, cancer, and critical illness policies. The company distributes insurance through a mix of exclusive agents, independent agents, and direct marketing. Its operating companies include Globe Life and Accident Insurance Company, American Income Life, Liberty National, Family Heritage Life, and United American.