Piper Sandler Lowers Globe Life (NYSE:GL) Price Target to $110.00

Globe Life (NYSE:GL) had its target price dropped by research analysts at Piper Sandler from $130.00 to $110.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 45.62% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Wells Fargo & Company reduced their target price on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday. JPMorgan Chase & Co. increased their price objective on Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. StockNews.com lowered Globe Life from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Evercore ISI decreased their price target on Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a report on Friday, April 12th. Finally, Truist Financial lowered their price objective on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and a consensus target price of $114.33.

Globe Life Price Performance

GL stock opened at $75.54 on Wednesday. The business has a 50 day moving average price of $107.65 and a 200 day moving average price of $115.54. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. The stock has a market cap of $7.10 billion, a price-to-earnings ratio of 7.21 and a beta of 0.69. Globe Life has a fifty-two week low of $38.95 and a fifty-two week 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 analysts’ consensus estimates of $2.79 by ($0.01). The company had revenue of $1.42 billion during 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 23.91%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the business earned $2.53 earnings per share. Equities research analysts anticipate that Globe Life will post 11.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Globe Life

A number of large investors have recently modified their holdings of GL. Lindbrook Capital LLC lifted its position in shares of Globe Life by 62.2% during the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after purchasing an additional 92 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Globe Life by 4.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,111 shares of the company’s stock worth $230,000 after buying an additional 99 shares during the period. Stonegate Investment Group LLC lifted its holdings in Globe Life by 0.3% in the 4th quarter. Stonegate Investment Group LLC now owns 34,123 shares of the company’s stock worth $4,153,000 after buying an additional 116 shares in the last quarter. Brown Advisory Inc. boosted its position in Globe Life by 3.0% in the 3rd quarter. Brown Advisory Inc. now owns 4,127 shares of the company’s stock valued at $449,000 after buying an additional 121 shares during the last quarter. Finally, Tectonic Advisors LLC grew its stake in shares of Globe Life by 5.3% during the fourth quarter. Tectonic Advisors LLC now owns 2,960 shares of the company’s stock valued at $360,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds 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.