Globe Life (NYSE:GL) had its target price boosted by Morgan Stanley from $86.00 to $92.00 in a report published on Wednesday morning, AR Network reports. They currently have an underweight rating on the stock.
Several other research analysts have also issued reports on GL. TheStreet raised Globe Life from a c+ rating to a b- rating in a research report on Wednesday, August 19th. JPMorgan Chase & Co. upped their target price on Globe Life from $97.00 to $99.00 and gave the company an overweight rating in a research report on Thursday, October 22nd. Zacks Investment Research downgraded Globe Life from a buy rating to a hold rating and set a $86.00 price target on the stock. in a research note on Monday, September 14th. Finally, Credit Suisse Group reiterated a buy rating on shares of Globe Life in a research note on Wednesday, August 12th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Globe Life currently has a consensus rating of Hold and an average price target of $86.17.
GL opened at $93.29 on Wednesday. The stock has a fifty day moving average price of $84.89 and a 200-day moving average price of $79.94. Globe Life has a 12 month low of $56.74 and a 12 month high of $111.43. The firm has a market cap of $9.76 billion, a price-to-earnings ratio of 14.16 and a beta of 1.11. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.16.
Globe Life (NYSE:GL) last announced its earnings results on Wednesday, October 21st. The company reported $1.75 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.75. Globe Life had a return on equity of 10.28% and a net margin of 15.38%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the company posted $1.73 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts forecast that Globe Life will post 6.89 EPS for the current year.
In other Globe Life news, CEO Larry M. Hutchison sold 13,000 shares of the stock in a transaction that occurred on Wednesday, November 18th. The stock was sold at an average price of $94.27, for a total transaction of $1,225,510.00. Following the completion of the transaction, the chief executive officer now owns 678,200 shares of the company’s stock, valued at $63,933,914. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP W Michael Pressley sold 60,000 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $84.66, for a total value of $5,079,600.00. Insiders have sold 201,000 shares of company stock worth $17,390,420 in the last quarter. 3.78% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the business. APG Asset Management N.V. increased its holdings in shares of Globe Life by 0.3% in the second quarter. APG Asset Management N.V. now owns 2,035,216 shares of the company’s stock valued at $134,509,000 after purchasing an additional 6,816 shares during the last quarter. Boston Partners increased its holdings in shares of Globe Life by 20.9% in the third quarter. Boston Partners now owns 1,991,892 shares of the company’s stock valued at $159,153,000 after purchasing an additional 344,367 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Globe Life by 9.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,902,808 shares of the company’s stock valued at $152,034,000 after purchasing an additional 160,600 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Globe Life by 0.5% in the third quarter. California Public Employees Retirement System now owns 852,106 shares of the company’s stock valued at $68,083,000 after purchasing an additional 3,934 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its holdings in shares of Globe Life by 3.0% in the third quarter. Lord Abbett & CO. LLC now owns 813,058 shares of the company’s stock valued at $64,963,000 after purchasing an additional 23,643 shares during the last quarter. 74.61% of the stock is owned by institutional investors and hedge funds.
Globe Life Company Profile
Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.
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