Piper Sandler Lowers Globe Life (NYSE:GL) Price Target to $110.00

Globe Life (NYSE:GL) had its target price dropped by research analysts at Piper Sandler from $130.00 to $110.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 37.91% from the company’s current price.

Several other analysts have also recently issued reports on GL. Evercore ISI lowered their target price on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a research note on Friday, April 12th. JPMorgan Chase & Co. increased their price target on shares of Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Keefe, Bruyette & Woods raised shares of Globe Life from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $130.00 to $110.00 in a report on Wednesday. StockNews.com lowered shares of Globe Life from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Truist Financial decreased their price target on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.33.

Globe Life Stock Performance

Shares of GL stock traded up $4.00 during trading on Wednesday, reaching $79.76. 2,692,744 shares of the company’s stock traded hands, compared to its average volume of 2,007,768. The company has a market capitalization of $7.50 billion, a P/E ratio of 7.53 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 firm’s 50-day moving average is $109.59 and its 200 day moving average is $116.08. Globe Life has a 1 year low of $38.95 and a 1 year high of $132.00.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Monday, April 22nd. The company reported $2.78 EPS 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 business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the company posted $2.53 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities research analysts expect that Globe Life will post 11.6 EPS for the current year.

Institutional Investors Weigh In On Globe Life

Several institutional investors have recently added to or reduced their stakes in GL. Norges Bank purchased a new stake in Globe Life during the 4th quarter valued at $123,682,000. Corient Private Wealth LLC boosted its position in Globe Life by 1,367.8% during the 4th quarter. Corient Private Wealth LLC now owns 362,535 shares of the company’s stock valued at $44,128,000 after buying an additional 337,836 shares during the period. California Public Employees Retirement System boosted its position in Globe Life by 169.4% during the 4th quarter. California Public Employees Retirement System now owns 484,982 shares of the company’s stock valued at $59,032,000 after buying an additional 304,942 shares during the period. Qube Research & Technologies Ltd lifted its position in shares of Globe Life by 141.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 466,896 shares of the company’s stock worth $50,766,000 after purchasing an additional 273,515 shares during the period. Finally, Nuance Investments LLC purchased a new stake in shares of Globe Life in the 4th quarter worth about $30,560,000. Hedge funds and other institutional investors 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.