Globe Life (NYSE:GL) Price Target Cut to $80.00

Globe Life (NYSE:GL) had its price target reduced by analysts at Truist Financial from $125.00 to $80.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s target price suggests a potential upside of 3.87% from the stock’s previous close.

Several other analysts also recently weighed in on GL. Piper Sandler lowered their target price on Globe Life from $143.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday, April 5th. Keefe, Bruyette & Woods upgraded Globe Life from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $130.00 to $110.00 in a research note on Wednesday. Evercore ISI lowered their target price on Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research note on Friday, April 12th. JPMorgan Chase & Co. raised their target price on Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Finally, StockNews.com cut shares of Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $119.22.

Globe Life Stock Up 1.7 %

Shares of NYSE GL opened at $77.02 on Wednesday. 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 $7.24 billion, a P/E ratio of 7.36 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. The stock has a fifty day moving average price of $109.59 and a 200 day moving average price of $116.08.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the company posted $2.53 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Research analysts anticipate that Globe Life will post 11.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Globe Life

Large investors have recently modified their holdings of the stock. CWM LLC lifted its holdings in Globe Life by 11.4% in the third quarter. CWM LLC now owns 1,527 shares of the company’s stock worth $166,000 after acquiring an additional 156 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in Globe Life in the third quarter worth about $625,000. Oak Thistle LLC bought a new position in Globe Life in the third quarter worth about $1,191,000. Czech National Bank lifted its holdings in Globe Life by 44.5% in the third quarter. Czech National Bank now owns 15,197 shares of the company’s stock worth $1,652,000 after acquiring an additional 4,677 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in Globe Life by 1.3% in the third quarter. Asset Management One Co. Ltd. now owns 37,304 shares of the company’s stock worth $4,056,000 after acquiring an additional 476 shares during the last quarter. 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.