Globe Life (NYSE:GL) Rating Increased to Outperform at Evercore ISI

Globe Life (NYSE:GL) was upgraded by research analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a note issued to investors on Wednesday, Marketbeat reports. The firm currently has a $143.00 target price on the stock, up from their previous target price of $132.00. Evercore ISI’s price objective indicates a potential upside of 28.18% from the company’s current price.

Several other research firms have also recently commented on GL. Jefferies Financial Group raised their target price on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods raised their price objective on shares of Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Wells Fargo & Company lifted their price objective on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Morgan Stanley increased their target price on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Finally, TD Cowen began coverage on Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.80.

Globe Life Stock Performance

Shares of GL stock opened at $111.56 on Wednesday. The stock’s 50-day moving average price is $108.57 and its 200 day moving average price is $101.59. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $9.36 billion, a PE ratio of 9.44 and a beta of 0.80. Globe Life has a 52-week low of $38.95 and a 52-week high of $132.00.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the company posted $2.71 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities research analysts forecast that Globe Life will post 12.31 EPS for the current year.

Insider Activity

In other Globe Life news, CMO Jennifer Allison Haworth sold 9,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $112.91, for a total transaction 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. This represents a 40.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Frank M. Svoboda sold 14,340 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the completion of the transaction, the chief executive officer now directly owns 16,396 shares of the company’s stock, valued at approximately $1,783,884.80. This trade represents a 46.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,788 shares of company stock worth $4,429,779 over the last 90 days. 1.51% of the stock is currently owned by corporate insiders.

Institutional Trading of Globe Life

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc grew its holdings in shares of Globe Life by 388.0% during the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after buying an additional 194 shares in the last quarter. Riverview Trust Co acquired a new stake in Globe Life during the third quarter worth approximately $32,000. Benjamin F. Edwards & Company Inc. boosted its position in Globe Life by 88.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after acquiring an additional 281 shares during the last quarter. True Wealth Design LLC purchased a new stake in Globe Life in the 3rd quarter worth approximately $59,000. Finally, Quarry LP raised its holdings in Globe Life by 47.5% in the 2nd quarter. Quarry LP now owns 838 shares of the company’s stock valued at $69,000 after acquiring an additional 270 shares during the last quarter. Hedge funds and other 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.