Globe Life (NYSE:GL) PT Raised to $88.00

Globe Life (NYSE:GL) had its price target lifted by analysts at Jefferies Financial Group from $85.00 to $88.00 in a report issued on Friday, Benzinga reports. The firm presently has a “hold” rating on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 6.95% from the company’s current price.

Several other brokerages have also recently weighed in on GL. Truist Financial reduced their price target on Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, April 24th. Raymond James reiterated a “strong-buy” rating on shares of Globe Life in a research report on Tuesday, May 21st. Keefe, Bruyette & Woods upgraded Globe Life from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $130.00 to $110.00 in a research report on Wednesday, April 24th. Wells Fargo & Company reduced their price target on Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. Finally, StockNews.com cut Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $111.67.

Globe Life Stock Performance

Shares of GL opened at $82.28 on Friday. The firm has a market cap of $7.59 billion, a PE ratio of 7.86 and a beta of 0.81. The stock’s fifty day moving average price is $81.72 and its two-hundred day moving average price is $104.31. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life has a 1 year low of $38.95 and a 1 year high of $132.00.

Globe Life (NYSE:GL) last issued its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (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 the consensus estimate of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.01%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.53 earnings per share. On average, equities research analysts forecast that Globe Life will post 11.72 EPS for the current year.

Insider Transactions at Globe Life

In other news, EVP Rebecca E. Zorn sold 2,320 shares of the company’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the completion of the transaction, the executive vice president now directly owns 10,220 shares in the company, valued at approximately $790,006. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Thomas Peter Kalmbach bought 500 shares of the stock in a transaction dated Friday, May 17th. The stock was bought at an average price of $84.43 per share, with a total value of $42,215.00. Following the purchase, the chief financial officer now owns 18,080 shares in the company, valued at approximately $1,526,494.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Rebecca E. Zorn sold 2,320 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $77.30, for a total value of $179,336.00. Following the completion of the sale, the executive vice president now directly owns 10,220 shares of the company’s stock, valued at approximately $790,006. The disclosure for this sale can be found here. In the last three months, insiders bought 6,500 shares of company stock worth $536,860. 1.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Globe Life

A number of hedge funds and other institutional investors have recently modified their holdings of GL. Lindbrook Capital LLC raised its position in Globe Life by 62.2% during the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after purchasing an additional 92 shares during the last quarter. Stonegate Investment Group LLC raised its position in Globe Life by 0.3% during the 4th quarter. Stonegate Investment Group LLC now owns 34,123 shares of the company’s stock valued at $4,153,000 after purchasing an additional 116 shares during the last quarter. Tectonic Advisors LLC raised its position in Globe Life by 5.3% during the 4th quarter. Tectonic Advisors LLC now owns 2,960 shares of the company’s stock valued at $360,000 after purchasing an additional 150 shares during the last quarter. NBC Securities Inc. raised its position in shares of Globe Life by 2.7% in the 1st quarter. NBC Securities Inc. now owns 5,803 shares of the company’s stock worth $675,000 after acquiring an additional 153 shares in the last quarter. Finally, Private Trust Co. NA raised its position in shares of Globe Life by 270.0% in the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after acquiring an additional 162 shares in the last quarter. 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.