Globe Life (NYSE:GL) Upgraded by Keefe, Bruyette & Woods to “Outperform”

Globe Life (NYSE:GL) was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, Marketbeat reports. The firm presently has a $110.00 target price on the stock, down from their previous target price of $130.00. Keefe, Bruyette & Woods’ price target suggests a potential upside of 45.62% from the company’s current price.

A number of other brokerages have also weighed in on GL. JPMorgan Chase & Co. lifted their price target on shares of Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Evercore ISI cut their price target on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a research note on Friday, April 12th. Piper Sandler cut their price target on shares of Globe Life from $143.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday, April 5th. StockNews.com lowered shares of Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $125.00 price target on shares of Globe Life in a research note on Friday, April 12th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $114.33.

Globe Life Stock Down 3.9 %

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

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

Institutional Trading of Globe Life

A number of institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new position in Globe Life during the fourth quarter worth $123,682,000. Corient Private Wealth LLC increased its holdings in Globe Life by 1,367.8% during the fourth quarter. Corient Private Wealth LLC now owns 362,535 shares of the company’s stock worth $44,128,000 after buying an additional 337,836 shares during the last quarter. California Public Employees Retirement System increased its holdings in Globe Life by 169.4% during the fourth quarter. California Public Employees Retirement System now owns 484,982 shares of the company’s stock worth $59,032,000 after buying an additional 304,942 shares during the last quarter. Qube Research & Technologies Ltd increased its holdings in Globe Life by 141.4% during the third quarter. Qube Research & Technologies Ltd now owns 466,896 shares of the company’s stock worth $50,766,000 after buying an additional 273,515 shares during the last quarter. Finally, Nuance Investments LLC acquired a new position in Globe Life during the fourth quarter worth $30,560,000. Institutional investors own 81.61% of the company’s stock.

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.