Globe Life (NYSE:GL) PT Lowered to $130.00 at Keefe, Bruyette & Woods

Globe Life (NYSE:GL) had its price target cut by equities researchers at Keefe, Bruyette & Woods from $135.00 to $130.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 164.39% from the stock’s current price.

Several other brokerages have also recently weighed in on GL. StockNews.com cut Globe Life from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. Piper Sandler cut their target price on shares of Globe Life from $143.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, April 5th. Evercore ISI lowered their price target on shares of Globe Life from $138.00 to $125.00 and set an “in-line” rating for the company in a report on Thursday, March 14th. JPMorgan Chase & Co. raised their price target on shares of Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Finally, Truist Financial increased their target price on shares of Globe Life from $115.00 to $125.00 and gave the stock a “hold” rating in a report on Friday, February 9th. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $132.00.

Globe Life Stock Down 53.1 %

Shares of GL opened at $49.17 on Wednesday. Globe Life has a 1 year low of $38.95 and a 1 year high of $132.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a 50 day simple moving average of $119.10 and a two-hundred day simple moving average of $118.54. The firm has a market cap of $4.62 billion, a P/E ratio of 4.88 and a beta of 0.69.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, February 7th. The company reported $2.88 EPS for the quarter, beating the consensus estimate of $2.73 by $0.15. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. Globe Life had a net margin of 17.82% and a return on equity of 24.25%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.24 EPS. On average, analysts forecast that Globe Life will post 11.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Globe Life

Several hedge funds and other institutional investors have recently modified their holdings of GL. Private Trust Co. NA boosted its position in Globe Life by 270.0% in the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after purchasing an additional 162 shares during the last quarter. Private Wealth Management Group LLC bought a new stake in Globe Life during the fourth quarter valued at approximately $27,000. BKM Wealth Management LLC purchased a new stake in Globe Life during the fourth quarter valued at approximately $28,000. Lindbrook Capital LLC raised its position in Globe Life by 62.2% in the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after acquiring an additional 92 shares during the period. Finally, Sunbelt Securities Inc. purchased a new position in shares of Globe Life during the 1st quarter worth $29,000. 81.61% of the stock is owned by institutional investors.

About Globe Life

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.