Globe Life (NYSE:GL) Now Covered by Analysts at BMO Capital Markets

Equities research analysts at BMO Capital Markets began coverage on shares of Globe Life (NYSE:GL) in a research report issued to clients and investors on Thursday,Benzinga reports. The firm set a “market perform” rating and a $114.00 price target on the stock. BMO Capital Markets’ price objective would suggest a potential downside of 5.46% from the stock’s previous close.

Several other brokerages also recently issued reports on GL. Piper Sandler upped their price target on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Wells Fargo & Company upped their target price on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods increased their target price on Globe Life from $135.00 to $137.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Morgan Stanley boosted their price target on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Finally, TD Cowen began coverage on Globe Life in a research note on Wednesday, October 9th. They set a “buy” rating and a $150.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $132.18.

Globe Life Stock Performance

Shares of GL stock opened at $120.59 on Thursday. The stock has a fifty day moving average price of $110.49 and a 200 day moving average price of $104.03. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a market cap of $10.12 billion, a PE ratio of 10.20 and a beta of 0.80. Globe Life has a 1 year low of $38.95 and a 1 year high of $132.00.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.43. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The business’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.71 EPS. Sell-side analysts forecast that Globe Life will post 12.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction on Monday, January 6th. The stock was sold at an average price of $113.23, for a total value of $339,690.00. Following the transaction, the director now owns 5,122 shares in the company, valued at approximately $579,964.06. This trade represents a 36.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frank M. Svoboda sold 13,448 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $112.56, for a total value of $1,513,706.88. Following the completion of the transaction, the chief executive officer now owns 18,948 shares in the company, valued at approximately $2,132,786.88. This trade represents a 41.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,788 shares of company stock valued at $4,429,779. Insiders own 1.51% of the company’s stock.

Institutional Investors Weigh In On Globe Life

Large investors have recently made changes to their positions in the business. Versant Capital Management Inc boosted its position in Globe Life by 388.0% during the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after purchasing an additional 194 shares during the period. Albion Financial Group UT acquired a new position in shares of Globe Life during the fourth quarter worth about $28,000. Riverview Trust Co purchased a new stake in shares of Globe Life in the third quarter worth about $32,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Globe Life by 88.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after buying an additional 281 shares in the last quarter. Finally, True Wealth Design LLC acquired a new stake in shares of Globe Life in the third quarter valued at about $59,000. Institutional investors and hedge funds 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.