Globe Life (NYSE:GL) PT Lowered to $80.00

Globe Life (NYSE:GL) had its price target reduced by research analysts at Truist Financial from $125.00 to $80.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price target would suggest a potential upside of 5.90% from the company’s current price.

GL has been the topic of a number of other reports. Keefe, Bruyette & Woods raised Globe Life from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $130.00 to $110.00 in a research note on Wednesday. Evercore ISI cut their price objective on Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a research note on Friday, April 12th. JPMorgan Chase & Co. lifted their price objective on Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Wells Fargo & Company cut their price objective on Globe Life from $146.00 to $132.00 and set an “overweight” rating on the stock in a research note on Thursday, April 11th. Finally, StockNews.com lowered Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Five 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $114.33.

Globe Life Stock Performance

Shares of GL stock opened at $75.54 on Wednesday. The business’s 50-day moving average price is $107.65 and its 200-day moving average price is $115.54. Globe Life has a 12 month low of $38.95 and a 12 month high of $132.00. The firm has a market capitalization of $7.10 billion, a price-to-earnings ratio of 7.21 and a beta of 0.69. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.36.

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

Institutional Investors Weigh In On Globe Life

Several hedge funds and other institutional investors have recently modified their holdings of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Globe Life by 13.3% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 73,496 shares of the company’s stock valued at $8,553,000 after acquiring an additional 8,600 shares in the last quarter. Canvas Wealth Advisors LLC bought a new stake in shares of Globe Life during the first quarter valued at approximately $419,000. Revisor Wealth Management LLC bought a new stake in shares of Globe Life during the first quarter valued at approximately $314,000. Accurate Wealth Management LLC increased its holdings in shares of Globe Life by 26.5% during the first quarter. Accurate Wealth Management LLC now owns 22,565 shares of the company’s stock valued at $2,626,000 after acquiring an additional 4,727 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in shares of Globe Life by 128.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 169,527 shares of the company’s stock valued at $19,728,000 after acquiring an additional 95,273 shares in the last quarter. 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.