Globe Life (NYSE:GL) Stock Rating Upgraded by Evercore ISI

Globe Life (NYSE:GL) was upgraded by equities research analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a report issued on Wednesday, MarketBeat.com reports. The firm presently has a $143.00 target price on the stock, up from their previous target price of $132.00. Evercore ISI’s price target would indicate a potential upside of 25.23% from the company’s current price.

A number of other research analysts have also issued reports on the company. TD Cowen started coverage on Globe Life in a research report on Wednesday, October 9th. They set a “buy” rating and a $150.00 target price on the stock. Raymond James increased their price objective on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th. Truist Financial upped their price target on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Wells Fargo & Company lifted their price objective on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Morgan Stanley increased their target price on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Four research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $132.80.

Globe Life Price Performance

Shares of NYSE GL opened at $114.19 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a market capitalization of $9.59 billion, a price-to-earnings ratio of 9.66 and a beta of 0.80. The firm’s 50 day simple moving average is $108.89 and its 200-day simple moving average is $101.76. Globe Life has a 12 month low of $38.95 and a 12 month high of $132.00.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the firm posted $2.71 earnings per share. The company’s revenue was up 5.1% compared to the same quarter last year. Analysts expect that Globe Life will post 12.31 EPS for the current year.

Insider Activity at Globe Life

In related news, CMO Jennifer Allison Haworth sold 9,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $112.91, for a total value of $1,016,190.00. Following the sale, the chief marketing officer now owns 13,485 shares in the company, valued at approximately $1,522,591.35. The trade was a 40.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Blinn sold 3,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were 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 of the company’s stock, valued at $579,964.06. This trade represents a 36.94 % 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 worth $4,429,779. Insiders own 1.51% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Achmea Investment Management B.V. boosted its position in Globe Life by 151.4% in the 2nd quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company’s stock valued at $2,443,000 after buying an additional 17,878 shares during the period. WINTON GROUP Ltd purchased a new position in shares of Globe Life in the 2nd quarter valued at about $15,483,000. State Street Corp grew its position in shares of Globe Life by 3.4% during the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after buying an additional 115,432 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Globe Life by 9.0% during the third quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock worth $11,154,000 after buying an additional 8,663 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Globe Life by 85.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company’s stock valued at $2,095,000 after acquiring an additional 9,141 shares in the last quarter. 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.