Globe Life Inc. (NYSE:GL) Given Consensus Recommendation of “Hold” by Brokerages

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Globe Life Inc. (NYSE:GL) has been assigned an average rating of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating and two have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $95.25.

Several brokerages have recently commented on GL. Credit Suisse Group began coverage on shares of Globe Life in a research report on Friday, September 20th. They set an “outperform” rating and a $114.00 price target for the company. ValuEngine cut shares of Globe Life from a “hold” rating to a “sell” rating in a research report on Friday, January 3rd. Barclays reiterated a “sell” rating and set a $84.00 price target on shares of Globe Life in a research report on Tuesday, January 7th. Finally, UBS Group lowered their price target on shares of Globe Life from $85.00 to $84.00 and set a “sell” rating for the company in a research report on Thursday, October 10th.

Shares of NYSE GL traded down $0.16 during trading on Tuesday, reaching $103.93. The company had a trading volume of 379,745 shares, compared to its average volume of 470,024. Globe Life has a 52 week low of $79.62 and a 52 week high of $107.28. The stock has a market cap of $11.29 billion, a PE ratio of 16.95, a PEG ratio of 1.80 and a beta of 0.96. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $104.53.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, October 23rd. The company reported $1.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.04. Globe Life had a net margin of 16.57% and a return on equity of 11.61%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the firm posted $1.59 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. As a group, equities analysts expect that Globe Life will post 6.77 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 3rd will be given a dividend of $0.172 per share. This represents a $0.69 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Thursday, January 2nd. Globe Life’s dividend payout ratio is 11.26%.

In related news, insider Steven John Dichiaro sold 18,500 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $98.13, for a total transaction of $1,815,405.00. Also, insider Bill Leavell sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $98.93, for a total transaction of $1,978,600.00. In the last quarter, insiders have sold 132,169 shares of company stock valued at $13,086,963. 3.64% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CENTRAL TRUST Co acquired a new position in Globe Life during the third quarter valued at approximately $29,000. Steward Partners Investment Advisory LLC acquired a new position in Globe Life during the third quarter valued at approximately $33,000. FinTrust Capital Advisors LLC acquired a new position in Globe Life during the third quarter valued at approximately $36,000. Sandy Spring Bank acquired a new position in Globe Life during the third quarter valued at approximately $36,000. Finally, CWM LLC acquired a new position in Globe Life during the third quarter valued at approximately $43,000. Hedge funds and other institutional investors own 74.89% 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 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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