Globe Life (NYSE:GL) PT lowered to $80.00

Globe Life (NYSE:GL – Get a Free Report) The price target was lowered by research analysts at Truist Financial from $125.00 to $80.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a ‘hold’ rating on the stock. Truist Financial’s price target would suggest a potential upside of 5.90% from the company’s current share price.

GL has been the subject of a number of other reports. Keefe, Bruyette & Woods upgraded Globe Life from a “market perform” rating to an “outperform” rating and lowered their price target for the stock from $130.00 to $110.00 in a research note on Wednesday. Evercore ISI lowered their price objective on Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a research note on Friday, April 12. JPMorgan Chase & Co. raised their price objective on Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8. Wells Fargo & Company lowered their price objective on Globe Life from $146.00 to $132.00 and set an “overweight” rating for the stock in a research note on Thursday, April 11. Finally, StockNews.com downgraded Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of ‘Moderate Buy’ and an average target price of $114.33.

Check out our latest stock analysis on Globe Life

Globe Life Stock Performance

Shares of GL opened at $75.54 on Wednesday. The company’s 50-day moving average price is $107.65 and its 200-day moving average price is $115.54. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00. The company has a market cap of $7.10 billion, a price-to-earnings ratio of 7.21 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 (NYSE:GL – Get Free Report) last reported its quarterly results on Monday, April 22. 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 company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the company posted earnings per share of $2.53. The company’s revenue for the quarter increased 7.2% compared to the same quarter last year. Equities research analysts predict that Globe Life will post earnings per share of 11.6 this year.

Institutional investors weigh in on global life

Several hedge funds and other institutional investors have recently changed their holdings in the company. Fjarde AP Fonden The fourth Swedish National Pension Fund increased its holdings in Globe Life shares by 13.3% in the first quarter. Fjarde AP Fonden The fourth largest Swedish National Pension Fund now owns 73,496 shares of the company, valued at $8,553,000, after acquiring an additional 8,600 shares in the last quarter. Canvas Wealth Advisors LLC bought a new stake in shares of Globe Life during the first quarter worth approximately $419,000. Revisor Wealth Management LLC bought a new stake in shares of Globe Life during the first quarter worth approximately $314,000. Accurate Wealth Management LLC grew its holdings in shares of Globe Life by 26.5% during the first quarter. Accurate Wealth Management LLC now owns 22,565 shares of the company’s stock valued at $2,626,000 after acquiring an additional 4,727 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in Globe Life shares by 128.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 169,527 shares of the company’s stock, valued at $19,728,000, after acquiring an additional 95,273 shares in the last quarter. Institutional investors own 81.61% of the company’s shares.

Globe Life company profile

(Get a free report)

Globe Life Inc, through its subsidiaries, offers a variety of 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, supplementary health insurance, annuities and investments.

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