Globe Life Inc. (NYSE:GL) Given Average Recommendation of “Buy” by Analysts

Globe Life Inc. (NYSE:GL) has earned an average rating of “Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $173.2222.

Several equities research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Globe Life from $171.00 to $172.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. Weiss Ratings upgraded shares of Globe Life from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. Truist Financial upped their target price on shares of Globe Life from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Keefe, Bruyette & Woods reiterated a “moderate buy” rating and issued a $168.00 target price on shares of Globe Life in a research note on Thursday, March 26th. Finally, Morgan Stanley upped their target price on shares of Globe Life from $176.00 to $181.00 and gave the stock an “overweight” rating in a research note on Thursday.

Insider Activity

In other news, EVP Michael Clay Majors sold 34,000 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $153.81, for a total value of $5,229,540.00. Following the transaction, the executive vice president owned 53,518 shares in the company, valued at approximately $8,231,603.58. This represents a 38.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Thomas Peter Kalmbach sold 15,637 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $153.65, for a total transaction of $2,402,625.05. Following the completion of the transaction, the chief financial officer owned 45,335 shares in the company, valued at approximately $6,965,722.75. This represents a 25.65% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 106,550 shares of company stock worth $16,140,745. Corporate insiders own 2.11% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Edgestream Partners L.P. purchased a new position in shares of Globe Life during the first quarter valued at approximately $7,513,000. Bull Harbor Capital LLC purchased a new position in shares of Globe Life during the first quarter valued at approximately $538,000. Amundi raised its holdings in shares of Globe Life by 627.5% during the first quarter. Amundi now owns 39,821 shares of the company’s stock valued at $5,542,000 after purchasing an additional 34,347 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Globe Life by 4.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,366 shares of the company’s stock valued at $329,000 after purchasing an additional 91 shares during the last quarter. Finally, California State Teachers Retirement System raised its holdings in shares of Globe Life by 18.0% during the first quarter. California State Teachers Retirement System now owns 90,478 shares of the company’s stock valued at $12,592,000 after purchasing an additional 13,806 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Trading Up 1.3%

NYSE:GL opened at $156.45 on Friday. Globe Life has a one year low of $116.73 and a one year high of $157.92. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.07 and a quick ratio of 0.07. The company’s 50-day simple moving average is $146.93 and its 200 day simple moving average is $141.81. The firm has a market capitalization of $12.15 billion, a P/E ratio of 10.82 and a beta of 0.50.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $3.43 EPS for the quarter, missing the consensus estimate of $3.46 by ($0.03). Globe Life had a return on equity of 20.94% and a net margin of 19.38%.The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the previous year, the firm earned $3.07 EPS. The company’s revenue was up 5.3% on a year-over-year basis. Globe Life has set its FY 2026 guidance at 15.400-15.90 EPS. As a group, analysts forecast that Globe Life will post 15.56 EPS for the current fiscal year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, July 6th. Globe Life’s dividend payout ratio is currently 9.13%.

Globe Life Company Profile

Globe Life, traded on the NYSE under the symbol GL, is a U.S.-based insurance holding company that underwrites and distributes a range of life and supplemental health insurance products. Through its subsidiary brands—Globe Life, American Income Life, Liberty National Life, United American Insurance Company and Family Heritage Life—it offers term life, whole life, fixed annuities and supplemental health coverage designed to meet the needs of individuals and families across various socioeconomic segments.

The company’s product suite includes low-cost, easy-to-understand life insurance policies, accidental death and dismemberment coverage, hospital indemnity plans and specified disease insurance.