Globe Life (NYSE:GL) PT Raised to $86.00 at Evercore ISI

Globe Life (NYSE:GL) had its price target increased by analysts at Evercore ISI from $83.00 to $86.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s price target suggests a potential upside of 4.57% from the company’s previous close.

Other analysts have also issued research reports about the stock. Raymond James reaffirmed a “strong-buy” rating on shares of Globe Life in a report on Tuesday, May 21st. Wells Fargo & Company lowered their target price on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Truist Financial lowered their target price on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, April 24th. Piper Sandler reduced their price target on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods raised shares of Globe Life from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $130.00 to $110.00 in a research report on Wednesday, April 24th. Five 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.56.

Globe Life Stock Performance

Shares of Globe Life stock opened at $82.24 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market cap of $7.59 billion, a P/E ratio of 7.85 and a beta of 0.81. The firm has a 50 day simple moving average of $81.41 and a 200 day simple moving average of $104.74. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $132.00.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The company 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 23.01%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.53 EPS. Sell-side analysts predict that Globe Life will post 11.72 earnings per share for the current fiscal year.

Insider Activity at Globe Life

In other Globe Life news, EVP Robert Edward Hensley purchased 2,500 shares of the stock in a transaction on Tuesday, May 28th. The shares were purchased at an average cost of $82.17 per share, for a total transaction of $205,425.00. Following the purchase, the executive vice president now owns 7,290 shares of the company’s stock, valued at $599,019.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Globe Life news, EVP Robert Edward Hensley purchased 2,500 shares of the stock in a transaction on Tuesday, May 28th. The shares were purchased at an average cost of $82.17 per share, for a total transaction of $205,425.00. Following the purchase, the executive vice president now owns 7,290 shares of the company’s stock, valued at $599,019.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Rebecca E. Zorn sold 2,320 shares of Globe Life stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $77.30, for a total transaction of $179,336.00. Following the completion of the sale, the executive vice president now owns 10,220 shares in the company, valued at $790,006. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 6,500 shares of company stock valued at $536,860. 1.51% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Globe Life

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Retirement Systems of Alabama acquired a new position in shares of Globe Life during the 4th quarter worth about $2,297,000. Quadrature Capital Ltd increased its stake in shares of Globe Life by 69.2% during the 4th quarter. Quadrature Capital Ltd now owns 38,785 shares of the company’s stock worth $4,724,000 after purchasing an additional 15,862 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Globe Life by 488.6% during the 4th quarter. Pacer Advisors Inc. now owns 33,620 shares of the company’s stock worth $4,092,000 after purchasing an additional 27,908 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Globe Life by 5.2% during the 4th quarter. Arizona State Retirement System now owns 26,061 shares of the company’s stock worth $3,172,000 after purchasing an additional 1,295 shares during the last quarter. Finally, AIA Group Ltd acquired a new position in shares of Globe Life during the 4th quarter worth about $1,788,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

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.