Globe Life (NYSE:GL) Price Target Cut to $110.00

Globe Life (NYSE:GL) had its price target dropped by investment analysts at Piper Sandler from $130.00 to $110.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 45.62% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. StockNews.com cut Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Wells Fargo & Company reduced their target price on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a report 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 report on Friday, April 12th. Finally, Truist Financial decreased their price objective on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Globe Life has a consensus rating of “Moderate Buy” and a consensus price target of $114.33.

Globe Life Trading Down 3.9 %

NYSE GL opened at $75.54 on Wednesday. Globe Life has a one year low of $38.95 and a one 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 business has a 50 day simple moving average of $107.65 and a 200 day simple moving average of $115.54. The stock has a market capitalization of $7.10 billion, a P/E ratio of 7.21 and a beta of 0.69.

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

Institutional Investors Weigh In On Globe Life

A number of hedge funds and other institutional investors have recently modified their holdings of GL. Vanguard Group Inc. increased its stake in shares of Globe Life by 1.7% in the third quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock worth $1,183,175,000 after buying an additional 181,824 shares during the period. JPMorgan Chase & Co. increased its position in shares of Globe Life by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 4,247,993 shares of the company’s stock valued at $461,884,000 after acquiring an additional 168,127 shares during the period. Cooke & Bieler LP raised its stake in shares of Globe Life by 2.0% during the fourth quarter. Cooke & Bieler LP now owns 2,357,839 shares of the company’s stock valued at $286,996,000 after acquiring an additional 45,227 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Globe Life by 3.7% during the third quarter. Invesco Ltd. now owns 1,901,013 shares of the company’s stock worth $206,697,000 after purchasing an additional 67,753 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Globe Life by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,200,369 shares of the company’s stock worth $146,109,000 after purchasing an additional 29,560 shares during the last quarter. Institutional investors 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.