StockNews.com Lowers Globe Life (NYSE:GL) to Hold

Globe Life (NYSE:GL) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Saturday.

A number of other research analysts also recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Wells Fargo & Company reduced their target price on Globe Life from $146.00 to $132.00 and set an “overweight” rating on the stock in a report on Thursday, April 11th. Piper Sandler decreased their target price on Globe Life from $143.00 to $130.00 and set an “overweight” rating for the company in a research report on Friday, April 5th. Truist Financial reiterated a “hold” rating and issued a $125.00 price target on shares of Globe Life in a research report on Friday, April 12th. Finally, Evercore ISI decreased 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 report on Friday, April 12th. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Globe Life currently has an average rating of “Moderate Buy” and a consensus target price of $126.44.

Globe Life Stock Up 2.7 %

NYSE GL opened at $66.74 on Friday. The stock’s 50 day simple moving average is $111.78 and its 200 day simple moving average is $116.54. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life has a one year low of $38.95 and a one year high of $132.00. The firm has a market cap of $6.28 billion, a PE ratio of 6.62 and a beta of 0.69.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, February 7th. The company reported $2.88 earnings per share for the quarter, topping analysts’ consensus estimates of $2.73 by $0.15. Globe Life had a net margin of 17.82% and a return on equity of 24.25%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the firm posted $2.24 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. As a group, sell-side analysts forecast that Globe Life will post 11.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Globe Life

Hedge funds and other institutional investors have recently bought and sold shares of the business. Private Wealth Management Group LLC acquired a new position in shares of Globe Life in the fourth quarter valued at $27,000. Private Trust Co. NA boosted its holdings in shares of Globe Life by 270.0% during the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after buying an additional 162 shares during the period. BKM Wealth Management LLC bought a new stake in shares of Globe Life during the 4th quarter worth about $28,000. Lindbrook Capital LLC grew its stake in Globe Life by 62.2% in the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after buying an additional 92 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new position in Globe Life in the 1st quarter valued at about $29,000. Institutional investors own 81.61% of the company’s stock.

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.