StockNews.com Upgrades Globe Life (NYSE:GL) to Buy

Globe Life (NYSE:GL) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Several other brokerages also recently commented on GL. Evercore ISI reduced their target price on Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a report on Friday. Piper Sandler reduced their target price on Globe Life from $143.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, April 5th. Keefe, Bruyette & Woods reduced their target price on Globe Life from $135.00 to $130.00 and set a “market perform” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on 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 reiterated a “hold” rating and issued a $125.00 price objective on shares of Globe Life in a research report on Friday. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Globe Life presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.44.

Globe Life Trading Up 20.2 %

Shares of GL opened at $59.09 on Friday. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of 5.86 and a beta of 0.69. The stock’s 50-day moving average price is $117.86 and its 200 day moving average price is $118.24.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, February 7th. The company reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.73 by $0.15. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. Globe Life had a return on equity of 24.25% and a net margin of 17.82%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.24 earnings per share. As a group, research analysts predict that Globe Life will post 11.6 earnings per share for the current year.

Institutional Trading of Globe Life

Hedge funds and other institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. raised its stake in shares of Globe Life by 488.6% in the 4th quarter. Pacer Advisors Inc. now owns 33,620 shares of the company’s stock valued at $4,092,000 after purchasing an additional 27,908 shares during the period. Arizona State Retirement System grew its holdings in shares of Globe Life by 5.2% in the 4th quarter. Arizona State Retirement System now owns 26,061 shares of the company’s stock valued at $3,172,000 after acquiring an additional 1,295 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Globe Life by 191.4% in the 4th quarter. SG Americas Securities LLC now owns 32,810 shares of the company’s stock valued at $3,994,000 after acquiring an additional 21,552 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Globe Life by 1.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 37,367 shares of the company’s stock valued at $4,548,000 after acquiring an additional 397 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Globe Life by 3.7% in the 3rd quarter. Invesco Ltd. now owns 1,901,013 shares of the company’s stock valued at $206,697,000 after acquiring an additional 67,753 shares in the last quarter. Institutional investors and hedge funds 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.