Globe Life (NYSE:GL) Receives Strong-Buy Rating from Raymond James

Raymond James reiterated their strong-buy rating on shares of Globe Life (NYSE:GL) in a research report released on Tuesday morning, Benzinga reports.

Other research analysts also recently issued research reports about the company. 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 research note on Wednesday, April 24th. Piper Sandler cut their price target on Globe Life from $130.00 to $110.00 and set an overweight rating for the company in a research note on Wednesday, April 24th. JPMorgan Chase & Co. increased their price target on Globe Life from $133.00 to $136.00 and gave the stock an overweight rating in a research note on Thursday, February 8th. Keefe, Bruyette & Woods upgraded Globe Life from a market perform rating to an outperform rating and cut their price target for the stock from $130.00 to $110.00 in a research note on Wednesday, April 24th. Finally, StockNews.com downgraded Globe Life from a buy rating to a hold rating in a research note on Saturday, April 20th. Five equities research 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 stock. According to data from MarketBeat.com, Globe Life currently has a consensus rating of Moderate Buy and a consensus target price of $114.33.

Globe Life Stock Up 1.5 %

Shares of NYSE:GL opened at $81.74 on Tuesday. The company has a market capitalization of $7.54 billion, a PE ratio of 7.81 and a beta of 0.78. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.05 and a quick ratio of 0.05. The business has a fifty day moving average price of $90.03 and a two-hundred day moving average price of $111.05. Globe Life has a 1 year low of $38.95 and a 1 year high of $132.00.

Globe Life (NYSE:GL) last announced its quarterly earnings data 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 business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.01%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.53 EPS. Analysts forecast that Globe Life will post 11.72 earnings per share for the current year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be paid a $0.24 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $0.96 annualized dividend and a yield of 1.17%. Globe Life’s dividend payout ratio is currently 9.17%.

Insiders Place Their Bets

In other Globe Life news, EVP Rebecca E. Zorn sold 2,320 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the sale, the executive vice president now owns 10,220 shares of the company’s stock, valued at approximately $790,006. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Globe Life news, Director David A. Rodriguez purchased 1,500 shares of the stock in a transaction on Wednesday, April 24th. The shares were purchased at an average price of $79.72 per share, with a total value of $119,580.00. Following the acquisition, the director now directly owns 4,192 shares in the company, valued at approximately $334,186.24. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Rebecca E. Zorn sold 2,320 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $77.30, for a total value of $179,336.00. Following the completion of the sale, the executive vice president now directly owns 10,220 shares in the company, valued at approximately $790,006. The disclosure for this sale can be found here. Insiders purchased a total of 4,000 shares of company stock worth $331,435 in the last quarter. 1.51% of the stock is owned by company insiders.

Institutional Trading of Globe Life

Several institutional investors and hedge funds have recently modified their holdings of GL. New Mexico Educational Retirement Board raised its holdings in shares of Globe Life by 4.5% during the 3rd quarter. New Mexico Educational Retirement Board now owns 4,633 shares of the company’s stock valued at $504,000 after buying an additional 200 shares in the last quarter. Empirical Finance LLC raised its holdings in shares of Globe Life by 10.0% during the 3rd quarter. Empirical Finance LLC now owns 3,197 shares of the company’s stock valued at $348,000 after buying an additional 290 shares in the last quarter. Duality Advisers LP purchased a new position in shares of Globe Life during the 3rd quarter valued at about $434,000. NBC Securities Inc. purchased a new position in shares of Globe Life during the 3rd quarter valued at about $635,000. Finally, Ieq Capital LLC purchased a new position in shares of Globe Life during the 3rd quarter valued at about $241,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

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.