Globe Life (NYSE:GL) Stock Rating Upgraded by StockNews.com

Globe Life (NYSE:GL) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Several other research analysts have also recently weighed in on GL. Keefe, Bruyette & Woods boosted their price objective on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. boosted their price objective on Globe Life from $136.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Piper Sandler cut their price objective on Globe Life from $152.00 to $147.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. BMO Capital Markets began coverage on Globe Life in a research note on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price target for the company. Finally, Morgan Stanley lowered their price objective on Globe Life from $126.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Globe Life has an average rating of “Moderate Buy” and an average target price of $137.00.

Globe Life Stock Up 1.1%

Shares of NYSE:GL opened at $121.87 on Friday. The stock has a market cap of $10.06 billion, a price-to-earnings ratio of 10.20 and a beta of 0.56. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life has a 12-month low of $76.55 and a 12-month high of $133.76. The business’s 50 day moving average is $123.20 and its 200 day moving average is $117.65.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.17). Globe Life had a net margin of 18.53% and a return on equity of 22.32%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the previous year, the firm earned $2.78 EPS. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts forecast that Globe Life will post 13.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Globe Life

A number of large investors have recently modified their holdings of GL. Norges Bank bought a new position in shares of Globe Life in the fourth quarter valued at approximately $112,454,000. Nuveen LLC bought a new stake in Globe Life during the first quarter valued at approximately $131,608,000. GAMMA Investing LLC lifted its position in Globe Life by 15,553.5% during the first quarter. GAMMA Investing LLC now owns 781,890 shares of the company’s stock valued at $102,991,000 after purchasing an additional 776,895 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Globe Life during the fourth quarter valued at approximately $61,238,000. Finally, Swedbank AB bought a new stake in Globe Life during the fourth quarter valued at approximately $52,414,000. 81.61% of the stock is currently owned by 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.