Globe Life Inc. (NYSE:GL) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Globe Life Inc. (NYSE:GL) have been assigned an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $191.6667.

Several brokerages have recently issued reports on GL. JPMorgan Chase & Co. upped their target price on shares of Globe Life from $181.00 to $201.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Jefferies Financial Group boosted their price objective on shares of Globe Life from $147.00 to $166.00 and gave the company a “hold” rating in a report on Friday, July 10th. Wells Fargo & Company increased their price objective on shares of Globe Life from $172.00 to $193.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Piper Sandler raised their target price on shares of Globe Life from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Finally, Morgan Stanley lifted their target price on shares of Globe Life from $181.00 to $208.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th.

Globe Life Stock Down 0.8%

Shares of NYSE:GL opened at $171.97 on Thursday. Globe Life has a 1 year low of $127.85 and a 1 year high of $191.55. The company has a market cap of $13.22 billion, a PE ratio of 11.42 and a beta of 0.46. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.07 and a quick ratio of 0.07. The stock’s 50-day moving average is $177.09 and its 200 day moving average is $162.85.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $3.61 earnings per share for the quarter, missing the consensus estimate of $3.67 by ($0.06). The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. Globe Life had a net margin of 19.58% and a return on equity of 20.52%. The business’s revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.05 EPS. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Sell-side analysts anticipate that Globe Life will post 15.71 EPS for the current year.

Globe Life announced that its Board of Directors has initiated a share buyback program on Monday, August 10th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the company to repurchase up to 17.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be paid a dividend of $0.33 per share. The ex-dividend date is Monday, October 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.8%. Globe Life’s payout ratio is 8.76%.

Insiders Place Their Bets

In related news, CEO James Darden sold 50,000 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $182.43, for a total transaction of $9,121,500.00. Following the completion of the sale, the chief executive officer owned 58,451 shares in the company, valued at approximately $10,663,215.93. This trade represents a 46.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Cheryl Alston sold 8,258 shares of Globe Life stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $179.24, for a total transaction of $1,480,163.92. Following the sale, the director owned 16,621 shares in the company, valued at approximately $2,979,148.04. The trade was a 33.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 141,908 shares of company stock worth $25,573,181. 2.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Globe Life

Several large investors have recently added to or reduced their stakes in GL. BlackRock Inc. purchased a new position in Globe Life during the 2nd quarter valued at $987,901,000. Pzena Investment Management LLC bought a new stake in shares of Globe Life during the second quarter worth $242,256,000. Norges Bank bought a new position in shares of Globe Life in the fourth quarter worth about $155,617,000. Equity Investment Corp purchased a new position in Globe Life in the 2nd quarter worth about $122,971,000. Finally, Bank of America Corp DE bought a new stake in Globe Life during the 2nd quarter valued at about $121,638,000. 81.61% of the stock is owned by institutional investors.

Globe Life Company Profile

Globe Life Inc is an insurance holding company headquartered in McKinney, Texas. Through its subsidiaries, the company markets and distributes individual life insurance and supplemental health insurance products to middle-income households and other consumer segments.

Its product offerings include term and whole life insurance, mortgage protection and final expense coverage, accident and supplemental health insurance, Medicare supplement policies, and annuity products. Globe Life distributes these products through multiple channels, including direct-to-consumer marketing, agency networks, and independent agents.

The company’s principal insurance businesses include Globe Life and Accident Insurance Company, American Income Life Insurance Company, Liberty National Life Insurance Company, United American Insurance Company, and Family Heritage Life Insurance Company of America.