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

Globe Life (NYSE:GL) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Saturday.

A number of other research analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Globe Life from $135.00 to $130.00 and set a “market perform” rating for the company in a report on Wednesday, April 10th. Truist Financial reaffirmed a “hold” rating and issued a $125.00 price target on shares of Globe Life in a report on Friday, April 12th. Piper Sandler decreased their price target on shares of Globe Life from $143.00 to $130.00 and set an “overweight” rating for the company in a report on Friday, April 5th. Wells Fargo & Company reduced their target price on shares of Globe Life from $146.00 to $132.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. Finally, Evercore ISI dropped their target price on Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a research report on Friday, April 12th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.44.

Globe Life Price Performance

Shares of GL stock opened at $66.74 on Friday. 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 company has a market capitalization of $6.28 billion, a P/E ratio of 6.62 and a beta of 0.69. The company’s 50-day simple moving average is $111.78 and its two-hundred day simple moving average is $116.65. Globe Life has a one year low of $38.95 and a one year high of $132.00.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, February 7th. The company reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.15. Globe Life had a net margin of 17.82% and a return on equity of 24.25%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the firm earned $2.24 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities analysts anticipate that Globe Life will post 11.6 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GL. Private Trust Co. NA lifted its holdings in Globe Life by 270.0% in the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after acquiring an additional 162 shares during the last quarter. Private Wealth Management Group LLC acquired a new position in Globe Life in the fourth quarter valued at approximately $27,000. BKM Wealth Management LLC acquired a new position in Globe Life in the fourth quarter valued at approximately $28,000. Lindbrook Capital LLC lifted its holdings in Globe Life by 62.2% in the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after acquiring an additional 92 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in Globe Life in the first quarter valued at approximately $29,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

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.