Globe Life (NYSE:GL) Rating Increased to Buy at StockNews.com

Globe Life (NYSE:GL) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Several other analysts also recently weighed in on the stock. Piper Sandler lifted their price objective on shares of Globe Life from $130.00 to $131.00 in a research report on Friday, July 28th. Morgan Stanley upgraded shares of Globe Life from an “underweight” rating to an “equal weight” rating and set a $131.00 price target on the stock in a research report on Friday, August 18th. Three 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 company. According to MarketBeat, Globe Life currently has an average rating of “Moderate Buy” and an average target price of $130.14.

Globe Life Trading Up 0.5 %

Globe Life stock opened at $109.16 on Friday. The firm’s 50-day moving average is $112.10 and its 200-day moving average is $110.28. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life has a 1 year low of $97.83 and a 1 year high of $123.85. The company has a market cap of $10.34 billion, a P/E ratio of 12.75 and a beta of 0.79.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.04. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.37 billion. Globe Life had a net margin of 15.91% and a return on equity of 21.82%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $2.07 EPS. On average, equities analysts expect that Globe Life will post 10.48 earnings per share for the current year.

Insider Activity at Globe Life

In related news, CAO Michael Shane Henrie sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $112.06, for a total transaction of $112,060.00. Following the transaction, the chief accounting officer now directly owns 700 shares of the company’s stock, valued at $78,442. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Michael Shane Henrie sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $112.06, for a total transaction of $112,060.00. Following the transaction, the chief accounting officer now directly owns 700 shares of the company’s stock, valued at $78,442. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frank M. Svoboda sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $113.57, for a total transaction of $1,419,625.00. Following the transaction, the chief executive officer now directly owns 3,370 shares in the company, valued at $382,730.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,733 shares of company stock valued at $5,310,990. Corporate insiders own 4.33% of the company’s stock.

Institutional Trading of Globe Life

A number of institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in shares of Globe Life by 37.0% in the first quarter. Wellington Management Group LLP now owns 7,308,014 shares of the company’s stock worth $735,187,000 after buying an additional 1,973,186 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Globe Life by 0.9% in the first quarter. BlackRock Inc. now owns 6,520,494 shares of the company’s stock worth $655,963,000 after buying an additional 57,587 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Globe Life by 52.3% in the second quarter. JPMorgan Chase & Co. now owns 4,079,866 shares of the company’s stock worth $447,235,000 after buying an additional 1,401,828 shares during the last quarter. State Street Corp lifted its stake in shares of Globe Life by 2.2% in the second quarter. State Street Corp now owns 3,960,623 shares of the company’s stock worth $434,163,000 after buying an additional 84,122 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Globe Life by 6.3% in the first quarter. FMR LLC now owns 2,689,921 shares of the company’s stock worth $295,945,000 after buying an additional 160,145 shares during the last quarter. 80.04% 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 to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.