Globe Life (NYSE:GL) PT Lowered to $80.00

Globe Life (NYSE:GL) had its price objective cut by equities researchers at Truist Financial from $125.00 to $80.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price target indicates a potential upside of 5.90% from the company’s previous close.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. lifted their price objective on Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. StockNews.com lowered Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Keefe, Bruyette & Woods upgraded Globe Life from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $130.00 to $110.00 in a research report on Wednesday. Wells Fargo & Company lowered their price objective on Globe Life from $146.00 to $132.00 and set an “overweight” rating for the company in a research report on Thursday, April 11th. Finally, Piper Sandler lowered their price objective on Globe Life from $143.00 to $130.00 and set an “overweight” rating for the company in a research report on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $114.33.

Globe Life Stock Performance

Globe Life stock opened at $75.54 on Wednesday. The stock has a 50-day simple moving average of $107.65 and a 200 day simple moving average of $115.54. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of 7.21 and a beta of 0.69.

Globe Life (NYSE:GL) last released its quarterly earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the firm earned $2.53 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, research analysts anticipate that Globe Life will post 11.6 earnings per share for the current fiscal year.

Institutional Trading of Globe Life

A number of large investors have recently bought and sold shares of GL. CWM LLC increased its stake in Globe Life by 11.4% during the 3rd quarter. CWM LLC now owns 1,527 shares of the company’s stock worth $166,000 after purchasing an additional 156 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in Globe Life during the 3rd quarter worth approximately $625,000. Oak Thistle LLC bought a new stake in Globe Life during the 3rd quarter worth approximately $1,191,000. Czech National Bank increased its stake in Globe Life by 44.5% during the 3rd quarter. Czech National Bank now owns 15,197 shares of the company’s stock worth $1,652,000 after purchasing an additional 4,677 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in Globe Life by 1.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 37,304 shares of the company’s stock worth $4,056,000 after acquiring an additional 476 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

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.