StockNews.com Lowers Globe Life (NYSE:GL) to Hold

Globe Life (NYSE:GL – Get Rating) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

A number of other equities research analysts have also recently commented on the stock. Credit Suisse Group raised their target price on shares of Globe Life from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, December 19th. Raymond James lifted their price objective on shares of Globe Life from $138.00 to $141.00 and gave the company a “strong-buy” rating in a research report on Wednesday, February 15th. Morgan Stanley lifted their price objective on shares of Globe Life from $132.00 to $133.00 and gave the company an “underweight” rating in a research report on Friday, February 24th. JPMorgan Chase & Co. lifted their price objective on shares of Globe Life from $112.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, January 6th. Finally, Piper Sandler lifted their price objective on shares of Globe Life from $127.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, December 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $129.57.

Globe Life Price Performance

Shares of NYSE:GL opened at $111.02 on Wednesday. The firm’s 50 day moving average price is $120.11 and its 200-day moving average price is $113.90. Globe Life has a twelve month low of $87.87 and a twelve month high of $123.85. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $10.71 billion, a PE ratio of 14.86 and a beta of 0.80.

Globe Life (NYSE:GL – Get Rating) last issued its quarterly earnings data on Wednesday, February 1st. The company reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.07. Globe Life had a net margin of 14.18% and a return on equity of 15.03%. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the business earned $1.70 EPS. The business’s quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts expect that Globe Life will post 10.37 EPS for the current year.

Insider Activity at Globe Life

In related news, insider Steven John Dichiaro sold 5,000 shares of the firm’s stock in a transaction on Wednesday, February 8th. The shares were sold at an average price of $121.64, for a total value of $608,200.00. Following the completion of the transaction, the insider now directly owns 8,372 shares of the company’s stock, valued at $1,018,370.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Globe Life news, insider Steven John Dichiaro sold 5,000 shares of Globe Life stock in a transaction on Wednesday, February 8th. The shares were sold at an average price of $121.64, for a total transaction of $608,200.00. Following the completion of the transaction, the insider now directly owns 8,372 shares of the company’s stock, valued at $1,018,370.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert Brian Mitchell sold 38,000 shares of Globe Life stock in a transaction on Monday, February 27th. The stock was sold at an average price of $121.45, for a total transaction of $4,615,100.00. Following the transaction, the executive vice president now directly owns 4,310 shares of the company’s stock, valued at $523,449.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,000 shares of company stock valued at $12,392,220. 4.62% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. OLD National Bancorp IN lifted its position in shares of Globe Life by 4.7% during the third quarter. OLD National Bancorp IN now owns 6,152 shares of the company’s stock worth $613,000 after purchasing an additional 278 shares during the last quarter. Bridgewater Associates LP raised its holdings in shares of Globe Life by 347.6% in the second quarter. Bridgewater Associates LP now owns 83,174 shares of the company’s stock valued at $8,107,000 after acquiring an additional 64,592 shares in the last quarter. Metis Global Partners LLC bought a new stake in shares of Globe Life in the third quarter valued at about $205,000. Cetera Investment Advisers raised its holdings in shares of Globe Life by 20.7% in the second quarter. Cetera Investment Advisers now owns 4,776 shares of the company’s stock valued at $466,000 after acquiring an additional 819 shares in the last quarter. Finally, Cetera Advisor Networks LLC raised its holdings in shares of Globe Life by 4.8% in the second quarter. Cetera Advisor Networks LLC now owns 4,966 shares of the company’s stock valued at $484,000 after acquiring an additional 226 shares in the last quarter. 81.04% of the stock is owned by hedge funds and other institutional investors.

Globe Life Company Profile

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Globe Life, Inc is a holding company, which engages in the provision of individual life and supplemental health insurance products and services. It operates through the following segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurances.