Globe Life’s (GL) “Strong-Buy” Rating Reiterated at Raymond James

Raymond James reaffirmed their strong-buy rating on shares of Globe Life (NYSE:GL) in a research note issued to investors on Tuesday, Benzinga reports.

GL has been the subject of several other research reports. Keefe, Bruyette & Woods raised Globe Life from a market perform rating to an outperform rating and cut their price target for the company from $130.00 to $110.00 in a report on Wednesday, April 24th. Wells Fargo & Company cut their price target on Globe Life from $132.00 to $108.00 and set an overweight rating for the company in a report on Wednesday, April 24th. JPMorgan Chase & Co. increased their price objective on shares of Globe Life from $133.00 to $136.00 and gave the stock an overweight rating in a research note on Thursday, February 8th. Truist Financial lowered their target price on shares of Globe Life from $125.00 to $80.00 and set a hold rating on the stock in a research note on Wednesday, April 24th. Finally, Evercore ISI cut their price target on Globe Life from $125.00 to $75.00 and set an in-line rating for the company in a research note on Friday, April 12th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $114.33.

Globe Life Trading Down 5.9 %

Shares of GL stock opened at $80.55 on Tuesday. The stock has a market capitalization of $7.43 billion, a P/E ratio of 7.69 and a beta of 0.78. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.32. The firm’s 50 day moving average is $90.71 and its 200 day moving average is $111.29. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00.

Globe Life (NYSE:GL) last released its quarterly earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Globe Life had a return on equity of 23.01% and a net margin of 18.07%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business earned $2.53 earnings per share. Research analysts expect that Globe Life will post 11.72 earnings per share for the current year.

Globe Life Announces Dividend

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 issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.96 annualized dividend and a dividend yield of 1.19%. Globe Life’s dividend payout ratio (DPR) is 9.17%.

Insider Activity at Globe Life

In other news, Director David A. Rodriguez acquired 1,500 shares of Globe Life stock in a transaction on Wednesday, April 24th. The shares were acquired at an average price of $79.72 per share, with a total value of $119,580.00. Following the purchase, the director now directly owns 4,192 shares in the company, valued at approximately $334,186.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO James Matthew Darden acquired 2,000 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were acquired at an average price of $84.82 per share, for a total transaction of $169,640.00. Following the completion of the transaction, the chief executive officer now directly owns 37,973 shares of the company’s stock, valued at approximately $3,220,869.86. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David A. Rodriguez bought 1,500 shares of Globe Life stock in a transaction dated Wednesday, April 24th. The stock was purchased at an average cost of $79.72 per share, for a total transaction of $119,580.00. Following the purchase, the director now owns 4,192 shares of the company’s stock, valued at approximately $334,186.24. The disclosure for this purchase can be found here. Over the last three months, insiders bought 4,000 shares of company stock valued at $331,435. Insiders own 1.51% of the company’s stock.

Institutional Trading of Globe Life

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GL. Lindbrook Capital LLC raised its holdings in Globe Life by 62.2% in the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after purchasing an additional 92 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Globe Life by 4.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,111 shares of the company’s stock worth $230,000 after acquiring an additional 99 shares in the last quarter. Stonegate Investment Group LLC lifted its position in Globe Life by 0.3% during the fourth quarter. Stonegate Investment Group LLC now owns 34,123 shares of the company’s stock valued at $4,153,000 after acquiring an additional 116 shares during the last quarter. Tectonic Advisors LLC boosted its stake in Globe Life by 5.3% in the fourth quarter. Tectonic Advisors LLC now owns 2,960 shares of the company’s stock valued at $360,000 after acquiring an additional 150 shares in the last quarter. Finally, NBC Securities Inc. grew its holdings in Globe Life by 2.7% in the first quarter. NBC Securities Inc. now owns 5,803 shares of the company’s stock worth $675,000 after purchasing an additional 153 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Company Profile

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.