Globe Life (NYSE:GL) Downgraded to “Hold” at StockNews.com

Globe Life (NYSE:GL) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other equities research analysts also recently commented on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Globe Life from $135.00 to $130.00 and set a “market perform” rating for the company in a research report on Wednesday, April 10th. Evercore ISI cut their target price on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research report on Friday, April 12th. Wells Fargo & Company cut their target price on shares of Globe Life from $146.00 to $132.00 and set an “overweight” rating for the company in a research report on Thursday, April 11th. Truist Financial reiterated a “hold” rating and issued a $125.00 target price on shares of Globe Life in a research report on Friday, April 12th. Finally, JPMorgan Chase & Co. increased their target price on shares of Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $126.44.

Globe Life Trading Up 2.7 %

Globe Life stock opened at $66.74 on Friday. The stock has a market capitalization of $6.28 billion, a PE ratio of 6.62 and a beta of 0.69. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a 50 day simple moving average of $111.78 and a 200-day simple moving average of $116.65.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, February 7th. The company reported $2.88 earnings per share for the quarter, topping analysts’ consensus estimates of $2.73 by $0.15. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Globe Life had a net margin of 17.82% and a return on equity of 24.25%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted $2.24 earnings per share. As a group, equities research analysts expect that Globe Life will post 11.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Private Trust Co. NA grew its stake in Globe Life by 270.0% in the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after buying an additional 162 shares during the last quarter. Private Wealth Management Group LLC acquired a new stake in Globe Life in the 4th quarter worth $27,000. BKM Wealth Management LLC acquired a new stake in Globe Life in the 4th quarter worth $28,000. Lindbrook Capital LLC grew its position in Globe Life by 62.2% in the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after purchasing an additional 92 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in Globe Life in the 1st quarter worth $29,000. 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.