Piper Sandler Lowers Globe Life (NYSE:GL) Price Target to $105.00

Globe Life (NYSE:GL) had its price target dropped by analysts at Piper Sandler from $110.00 to $105.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price suggests a potential upside of 27.61% from the stock’s previous close.

Other analysts have also issued research reports about the stock. StockNews.com lowered shares of Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Wells Fargo & Company reduced their price target 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. Raymond James reaffirmed a “strong-buy” rating on shares of Globe Life in a report on Tuesday, May 21st. Keefe, Bruyette & Woods raised shares of Globe Life from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $130.00 to $110.00 in a report on Wednesday, April 24th. Finally, Truist Financial reduced their price objective 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. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Globe Life has a consensus rating of “Moderate Buy” and a consensus target price of $111.67.

Globe Life Trading Up 0.0 %

GL opened at $82.28 on Friday. The firm has a market capitalization of $7.59 billion, a P/E ratio of 7.86 and a beta of 0.81. The firm’s 50 day moving average is $81.72 and its 200-day moving average is $104.31. Globe Life has a 52-week low of $38.95 and a 52-week high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.32.

Globe Life (NYSE:GL) last posted its quarterly earnings data 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). The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.01%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.53 EPS. Analysts expect that Globe Life will post 11.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other Globe Life news, EVP Robert Edward Hensley bought 2,500 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were bought at an average price of $82.17 per share, for a total transaction of $205,425.00. Following the acquisition, the executive vice president now directly owns 7,290 shares of the company’s stock, valued at $599,019.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director David A. Rodriguez purchased 1,500 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was acquired at an average price of $79.72 per share, with a total value of $119,580.00. Following the purchase, the director now owns 4,192 shares in the company, valued at approximately $334,186.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Edward Hensley purchased 2,500 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average cost of $82.17 per share, with a total value of $205,425.00. Following the purchase, the executive vice president now owns 7,290 shares in the company, valued at approximately $599,019.30. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 6,500 shares of company stock worth $536,860. Company insiders own 1.51% of the company’s stock.

Institutional Investors Weigh In On Globe Life

Several large investors have recently made changes to their positions in GL. Norges Bank bought a new stake in shares of Globe Life in the 4th quarter valued at approximately $123,682,000. Nordea Investment Management AB boosted its position in Globe Life by 10,526.9% during the first quarter. Nordea Investment Management AB now owns 998,717 shares of the company’s stock worth $116,061,000 after purchasing an additional 989,319 shares during the period. Vanguard Group Inc. boosted its position in Globe Life by 3.9% during the first quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock worth $1,309,755,000 after purchasing an additional 425,993 shares during the period. Corient Private Wealth LLC boosted its position 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 purchasing an additional 337,836 shares during the period. Finally, California Public Employees Retirement System boosted its position 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 purchasing an additional 304,942 shares during the period. 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.