Globe Life (NYSE:GL) Upgraded by StockNews.com to Buy

Globe Life (NYSE:GLGet Free Report) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

Several other brokerages also recently issued reports on GL. JPMorgan Chase & Co. upped their price target on shares of Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Morgan Stanley upped their target price on Globe Life from $131.00 to $132.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 15th. Finally, Truist Financial boosted their price target on Globe Life from $115.00 to $125.00 and gave the stock a “hold” rating in a report on Friday, February 9th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $134.14.

Get Our Latest Analysis on GL

Globe Life Price Performance

Shares of NYSE:GL traded up $0.13 during trading on Monday, hitting $126.30. 357,504 shares of the stock were exchanged, compared to its average volume of 510,834. Globe Life has a 12-month low of $102.23 and a 12-month high of $132.00. The company has a market cap of $11.84 billion, a PE ratio of 12.53 and a beta of 0.70. The company has a fifty day moving average price of $123.28 and a two-hundred day moving average price of $117.98. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.36.

Globe Life (NYSE:GLGet Free Report) last posted its earnings results on Wednesday, February 7th. The company reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.15. Globe Life had a return on equity of 24.25% and a net margin of 17.82%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the business earned $2.24 earnings per share. Globe Life’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, analysts forecast that Globe Life will post 11.57 EPS for the current year.

Insiders Place Their Bets

In other Globe Life news, EVP Dolores L. Skarjune sold 20,479 shares of the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $123.28, for a total transaction of $2,524,651.12. Following the transaction, the executive vice president now owns 4,956 shares of the company’s stock, valued at approximately $610,975.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Globe Life news, CMO Jennifer Allison Haworth sold 2,524 shares of the business’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $121.37, for a total transaction of $306,337.88. Following the completion of the sale, the chief marketing officer now directly owns 8,606 shares in the company, valued at $1,044,510.22. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Dolores L. Skarjune sold 20,479 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $123.28, for a total transaction of $2,524,651.12. Following the sale, the executive vice president now owns 4,956 shares of the company’s stock, valued at $610,975.68. The disclosure for this sale can be found here. Insiders have sold a total of 24,003 shares of company stock valued at $2,955,489 in the last quarter. 4.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Globe Life

Several institutional investors have recently bought and sold shares of the business. Private Trust Co. NA increased its holdings in Globe Life by 270.0% during the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after purchasing an additional 162 shares during the last quarter. Private Wealth Management Group LLC purchased a new stake in Globe Life during the 4th quarter worth approximately $27,000. BKM Wealth Management LLC purchased a new stake in Globe Life during the 4th quarter worth approximately $28,000. Lindbrook Capital LLC increased its holdings 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. Finally, Sunbelt Securities Inc. purchased a new stake in Globe Life during the 1st quarter worth approximately $29,000. 80.04% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Company Profile

(Get Free Report)

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.

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Analyst Recommendations for Globe Life (NYSE:GL)

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