Jefferies Maintains Globe Life (GL) Hold Recommendation

Fintel reports that on September 14, 2023, Jefferies maintained coverage of Globe Life (NYSE:GL) with a Hold recommendation.

Analyst Price Forecast Suggests 16.05% Upside

As of August 31, 2023, the average one-year price target for Globe Life is 128.63. The forecasts range from a low of 116.15 to a high of $144.90. The average price target represents an increase of 16.05% from its latest reported closing price of 110.84.

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The projected annual revenue for Globe Life is 5,661MM, an increase of 7.46%. The projected annual non-GAAP EPS is 9.78.

Globe Life Declares $0.22 Dividend

On June 21, 2023 the company declared a regular quarterly dividend of $0.22 per share ($0.90 annualized). Shareholders of record as of July 5, 2023 received the payment on August 1, 2023. Previously, the company paid $0.22 per share.

At the current share price of $110.84 / share, the stock's dividend yield is 0.81%.

Looking back five years and taking a sample every week, the average dividend yield has been 0.81%, the lowest has been 0.63%, and the highest has been 1.29%. The standard deviation of yields is 0.09 (n=236).

The current dividend yield is 0.01 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.12. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.20%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 1165 funds or institutions reporting positions in Globe Life. This is an increase of 15 owner(s) or 1.30% in the last quarter. Average portfolio weight of all funds dedicated to GL is 0.19%, a decrease of 7.84%. Total shares owned by institutions decreased in the last three months by 2.32% to 85,409K shares. The put/call ratio of GL is 6.49, indicating a bearish outlook.

What are Other Shareholders Doing?

Wellington Management Group Llp holds 5,235K shares representing 5.52% ownership of the company. In it's prior filing, the firm reported owning 5,329K shares, representing a decrease of 1.80%. The firm decreased its portfolio allocation in GL by 6.60% over the last quarter.

Jpmorgan Chase holds 4,080K shares representing 4.30% ownership of the company. In it's prior filing, the firm reported owning 2,678K shares, representing an increase of 34.36%. The firm increased its portfolio allocation in GL by 978.31% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,703K shares representing 2.85% ownership of the company. In it's prior filing, the firm reported owning 2,684K shares, representing an increase of 0.67%. The firm decreased its portfolio allocation in GL by 7.45% over the last quarter.

Berkshire Hathaway holds 2,516K shares representing 2.65% ownership of the company. In it's prior filing, the firm reported owning 6,354K shares, representing a decrease of 152.58%. The firm decreased its portfolio allocation in GL by 63.17% over the last quarter.

Boston Partners holds 2,409K shares representing 2.54% ownership of the company. In it's prior filing, the firm reported owning 2,446K shares, representing a decrease of 1.56%. The firm increased its portfolio allocation in GL by 146.73% over the last quarter.

Globe Life Background Information
(This description is provided by the company.)

Globe Life is headquartered in McKinney, TX and has more than 11,000 insurance agents and 3,000 corporate employees. Globe Life's insurance subsidiaries include American Income Life, Family Heritage Life, Globe Life And Accident Insurance Company, Globe Life Insurance Company of New York, Liberty National Life, National Income Life, and United American.

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