Globe Life (NYSE:GL) Price Target Cut to $80.00

Globe Life (NYSE:GL) had its price objective lowered by equities researchers at Truist Financial from $125.00 to $80.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s target price points to a potential upside of 3.87% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. Evercore ISI dropped 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 report on Friday, April 12th. Keefe, Bruyette & Woods upgraded shares of Globe Life from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $130.00 to $110.00 in a research report on Wednesday. Wells Fargo & Company dropped their target price on shares of Globe Life from $146.00 to $132.00 and set an “overweight” rating for the company in a research report on Thursday, April 11th. StockNews.com cut shares of Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Piper Sandler lowered their price objective on shares of Globe Life from $143.00 to $130.00 and set an “overweight” rating for the company in a research report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Globe Life has a consensus rating of “Moderate Buy” and an average price target of $119.22.

Globe Life Price Performance

Shares of NYSE:GL opened at $77.02 on Wednesday. The firm has a 50 day moving average of $109.59 and a 200-day moving average of $116.08. The stock has a market capitalization of $7.24 billion, a PE ratio of 7.36 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 has a 12 month low of $38.95 and a 12 month high of $132.00.

Globe Life (NYSE:GL) last issued 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). The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.91%. Globe Life’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.53 earnings per share. On average, equities research analysts predict that Globe Life will post 11.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Globe Life

A number of institutional investors have recently added to or reduced their stakes in GL. Norges Bank bought a new stake in Globe Life during the 4th quarter worth approximately $123,682,000. Corient Private Wealth LLC grew its holdings in Globe Life by 1,367.8% during the 4th 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 during the last quarter. California Public Employees Retirement System grew its holdings in Globe Life by 169.4% during the 4th quarter. California Public Employees Retirement System now owns 484,982 shares of the company’s stock worth $59,032,000 after acquiring an additional 304,942 shares during the last quarter. Qube Research & Technologies Ltd grew its holdings in Globe Life by 141.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 466,896 shares of the company’s stock worth $50,766,000 after acquiring an additional 273,515 shares during the last quarter. Finally, Nuance Investments LLC bought a new stake in shares of Globe Life in the 4th quarter valued at $30,560,000. 81.61% of the stock is 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.