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

Globe Life (NYSE:GL) was upgraded by equities researchers at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a report released on Wednesday, Marketbeat reports. The firm currently has a $110.00 price objective on the stock, down from their previous price objective of $130.00. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 45.14% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. Piper Sandler dropped their price target 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. Evercore ISI lowered their price objective 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. Truist Financial restated a “hold” rating and set a $125.00 price objective on shares of Globe Life in a research report on Friday, April 12th. Wells Fargo & Company lowered their price objective 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. Finally, StockNews.com downgraded shares of Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday. Five 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. According to MarketBeat, Globe Life currently has a consensus rating of “Moderate Buy” and an average target price of $124.22.

Globe Life Stock Up 14.2 %

NYSE GL opened at $75.79 on Wednesday. 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 1-year low of $38.95 and a 1-year high of $132.00. The company has a 50 day moving average of $109.59 and a 200-day moving average of $116.08. The company has a market cap of $7.13 billion, a price-to-earnings ratio of 7.24 and a beta of 0.69.

Globe Life (NYSE:GL) last released its quarterly earnings results on Monday, April 22nd. The company reported $2.78 earnings per share 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 business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the firm posted $2.53 earnings per share. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities research analysts expect that Globe Life will post 11.6 earnings per share for the current fiscal year.

Institutional Trading of Globe Life

Several institutional investors have recently modified their holdings of the business. Private Trust Co. NA boosted its position in Globe Life by 270.0% during the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after acquiring an additional 162 shares during the last quarter. Private Wealth Management Group LLC bought a new stake in Globe Life during the fourth quarter valued at $27,000. BKM Wealth Management LLC bought a new stake in Globe Life during the fourth quarter valued at $28,000. Lindbrook Capital LLC boosted its position in Globe Life by 62.2% during the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after acquiring an additional 92 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Globe Life by 177.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock valued at $34,000 after acquiring an additional 177 shares during 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.