Globe Life (NYSE:GL) Price Target Cut to $108.00 by Analysts at Wells Fargo & Company

Globe Life (NYSE:GL) had its price objective dropped by research analysts at Wells Fargo & Company from $132.00 to $108.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 42.97% from the company’s current price.

Several other equities research analysts also recently weighed in on GL. 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. StockNews.com downgraded shares of Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Piper Sandler decreased their price objective on shares of Globe Life from $143.00 to $130.00 and set an “overweight” rating for the company in a report on Friday, April 5th. Evercore ISI dropped their target price on Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a report on Friday, April 12th. Finally, Truist Financial cut their target price on Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday. Five research 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’s stock. Based on data from MarketBeat.com, Globe Life has a consensus rating of “Moderate Buy” and a consensus price target of $114.33.

Globe Life Stock Performance

GL opened at $75.54 on Wednesday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $107.65 and its 200-day moving average is $115.54. The stock has a market cap of $7.10 billion, a PE ratio of 7.21 and a beta of 0.69. Globe Life has a twelve month low of $38.95 and a twelve month high of $132.00.

Globe Life (NYSE:GL) last posted its earnings results on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the business earned $2.53 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, analysts predict that Globe Life will post 11.6 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in Globe Life in the 4th quarter worth about $123,682,000. Corient Private Wealth LLC increased its position in shares of Globe Life by 1,367.8% in the fourth quarter. Corient Private Wealth LLC now owns 362,535 shares of the company’s stock worth $44,128,000 after acquiring an additional 337,836 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of Globe Life by 169.4% during the fourth quarter. California Public Employees Retirement System now owns 484,982 shares of the company’s stock valued at $59,032,000 after acquiring an additional 304,942 shares during the period. Qube Research & Technologies Ltd lifted its position in shares of Globe Life by 141.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 466,896 shares of the company’s stock valued at $50,766,000 after acquiring an additional 273,515 shares in the last quarter. Finally, Nuance Investments LLC acquired a new position in Globe Life in the 4th quarter worth approximately $30,560,000. Institutional investors own 81.61% of the company’s stock.

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.