Keefe, Bruyette & Woods Upgrades Globe Life (NYSE:GL) to Outperform

Globe Life (NYSE:GL) was upgraded by research analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm presently has a $110.00 target price on the stock, down from their previous target price of $130.00. Keefe, Bruyette & Woods’ target price suggests a potential upside of 45.62% from the stock’s previous close.

Several other research firms have also commented on GL. Truist Financial reaffirmed a “hold” rating and issued a $125.00 price target on shares of Globe Life in a report on Friday, April 12th. StockNews.com lowered shares of Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Piper Sandler reduced their target price on shares of Globe Life from $143.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday, April 5th. JPMorgan Chase & Co. boosted their target price on shares of Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Finally, Evercore ISI reduced their target price on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research note on Friday, April 12th. Five equities research 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 data from MarketBeat, Globe Life has an average rating of “Moderate Buy” and an average target price of $114.33.

Globe Life Trading Down 3.9 %

NYSE GL opened at $75.54 on Wednesday. Globe Life has a one year low of $38.95 and a one year high of $132.00. The company has a 50-day simple moving average of $107.65 and a 200-day simple moving average of $115.54. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a market capitalization of $7.10 billion, a PE ratio of 7.21 and a beta of 0.69.

Globe Life (NYSE:GL) last posted its quarterly 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 period last year, the firm posted $2.53 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities analysts forecast that Globe Life will post 11.6 earnings per share for the current year.

Institutional Trading of Globe Life

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Lindbrook Capital LLC raised its position in shares of Globe Life by 62.2% during the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after buying an additional 92 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Globe Life by 4.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,111 shares of the company’s stock worth $230,000 after purchasing an additional 99 shares in the last quarter. Stonegate Investment Group LLC raised its holdings in shares of 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 purchasing an additional 116 shares in the last quarter. Brown Advisory Inc. raised its holdings in shares of Globe Life by 3.0% in the 3rd quarter. Brown Advisory Inc. now owns 4,127 shares of the company’s stock worth $449,000 after purchasing an additional 121 shares in the last quarter. Finally, Tectonic Advisors LLC raised its holdings in shares of Globe Life by 5.3% in the 4th quarter. Tectonic Advisors LLC now owns 2,960 shares of the company’s stock worth $360,000 after purchasing an additional 150 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors.

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.