Globe Life’s (GL) “Outperform” Rating Reiterated at Keefe, Bruyette & Woods

Globe Life (NYSE:GL)‘s stock had its “outperform” rating reiterated by stock analysts at Keefe, Bruyette & Woods in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $118.00 price target on the stock, up from their previous price target of $110.00. Keefe, Bruyette & Woods’ target price suggests a potential upside of 25.79% from the stock’s current price.

Several other analysts have also recently issued reports on the stock. Piper Sandler increased their price target on shares of Globe Life from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Truist Financial raised their price target on shares of Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Evercore ISI upped their price objective on Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a research report on Wednesday, June 26th. Morgan Stanley lifted their target price on Globe Life from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, July 10th. Finally, Raymond James restated a “strong-buy” rating on shares of Globe Life in a report on Tuesday, May 21st. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $106.33.

Globe Life Stock Performance

NYSE:GL opened at $93.81 on Wednesday. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.05 and a current ratio of 0.05. The company has a 50 day moving average price of $83.93 and a 200 day moving average price of $98.74. The stock has a market capitalization of $8.45 billion, a P/E ratio of 8.96 and a beta of 0.81.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Globe Life had a return on equity of 22.53% and a net margin of 18.47%. During the same period in the previous year, the firm posted $2.61 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. Equities research analysts forecast that Globe Life will post 11.93 EPS for the current year.

Insider Transactions at Globe Life

In other Globe Life news, EVP Robert Edward Hensley bought 2,500 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were acquired at an average price of $82.17 per share, with a total value of $205,425.00. Following the transaction, the executive vice president now owns 7,290 shares of the company’s stock, valued at $599,019.30. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO James Matthew Darden acquired 2,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was bought at an average price of $84.82 per share, for a total transaction of $169,640.00. Following the completion of the purchase, the chief executive officer now directly owns 37,973 shares of the company’s stock, valued at approximately $3,220,869.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Edward Hensley bought 2,500 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were purchased at an average price of $82.17 per share, for a total transaction of $205,425.00. Following the transaction, the executive vice president now directly owns 7,290 shares of the company’s stock, valued at approximately $599,019.30. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 8,000 shares of company stock valued at $687,880. 1.51% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GL. Private Trust Co. NA boosted its holdings in shares of Globe Life by 270.0% in the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after acquiring an additional 162 shares during the period. Private Wealth Management Group LLC purchased a new position in Globe Life during the 4th quarter worth $27,000. Lindbrook Capital LLC grew its position in Globe Life by 62.2% during 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. Benjamin F. Edwards & Company Inc. increased its stake in Globe Life by 177.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock valued at $34,000 after purchasing an additional 177 shares during the period. Finally, Keener Financial Planning LLC purchased a new stake in shares of Globe Life in the first quarter valued at about $49,000. 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.