Globe Life (NYSE:GL) Price Target Raised to $118.00 at Piper Sandler

Globe Life (NYSE:GL) had its price objective increased by research analysts at Piper Sandler from $106.00 to $118.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 13.78% from the stock’s current price.

GL has been the topic of a number of other reports. Evercore ISI upped their price target on Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a research note on Wednesday, June 26th. Jefferies Financial Group raised their target price on Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a report on Friday, June 28th. Morgan Stanley boosted their price target on shares of Globe Life from $66.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Truist Financial raised their price objective on shares of Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company lifted their price objective on shares of Globe Life from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Five equities 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $109.67.

Globe Life Stock Down 2.1 %

Shares of NYSE:GL opened at $103.71 on Wednesday. The company has a market capitalization of $9.34 billion, a price-to-earnings ratio of 9.91 and a beta of 0.81. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00. The business has a 50-day moving average price of $99.59 and a 200 day moving average price of $91.37. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.31.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the business earned $2.61 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. Sell-side analysts expect that Globe Life will post 11.93 EPS for the current year.

Insider Activity

In other news, Director Mary E. Thigpen bought 3,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the completion of the purchase, the director now owns 15,605 shares in the company, valued at approximately $1,407,571. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.51% of the company’s stock.

Hedge Funds Weigh In On Globe Life

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Globe Life by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 11,255,091 shares of the company’s stock worth $1,309,755,000 after buying an additional 425,993 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Globe Life by 7.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,607 shares of the company’s stock valued at $11,824,000 after acquiring an additional 7,100 shares during the last quarter. Quadrature Capital Ltd lifted its position in Globe Life by 69.2% in the fourth quarter. Quadrature Capital Ltd now owns 38,785 shares of the company’s stock valued at $4,724,000 after acquiring an additional 15,862 shares during the last quarter. Savant Capital LLC boosted its stake in Globe Life by 951.5% in the second quarter. Savant Capital LLC now owns 75,214 shares of the company’s stock valued at $6,189,000 after acquiring an additional 68,061 shares in the last quarter. Finally, Achmea Investment Management B.V. grew its holdings in shares of Globe Life by 151.4% during the second quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company’s stock worth $2,443,000 after purchasing an additional 17,878 shares during the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

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.