Globe Life (NYSE:GL) Coverage Initiated at Credit Suisse Group

Credit Suisse Group began coverage on shares of Globe Life (NYSE:GL) in a research report report published on Friday, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $114.00 price objective on the stock.

Separately, Zacks Investment Research raised Globe Life from a hold rating to a buy rating and set a $99.00 price target on the stock in a research report on Tuesday, September 3rd.

Shares of NYSE GL opened at $95.35 on Friday. Globe Life has a 12 month low of $69.68 and a 12 month high of $96.10. The firm has a market cap of $10.29 billion, a PE ratio of 15.55, a P/E/G ratio of 1.84 and a beta of 0.95. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.06 and a quick ratio of 0.06.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, July 24th. The company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.65 by $0.02. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Globe Life had a return on equity of 12.34% and a net margin of 16.26%. On average, research analysts anticipate that Globe Life will post 6.73 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a dividend of $0.172 per share. This represents a $0.69 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Thursday, October 3rd. Globe Life’s payout ratio is 11.26%.

In other Globe Life news, CEO Larry M. Hutchison sold 25,000 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $92.45, for a total value of $2,311,250.00. Following the transaction, the chief executive officer now directly owns 610,510 shares of the company’s stock, valued at approximately $56,441,649.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director David L. Boren sold 10,900 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $87.02, for a total value of $948,518.00. Following the completion of the transaction, the director now directly owns 203 shares in the company, valued at $17,665.06. The disclosure for this sale can be found here. Insiders have sold 100,820 shares of company stock worth $9,241,936 over the last three months. 3.64% of the stock is owned by insiders.

Globe Life Company Profile

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.

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