Piper Sandler Lowers Globe Life (NYSE:GL) Price Target to $110.00

Globe Life (NYSE:GL) had its price target cut by research analysts at Piper Sandler from $130.00 to $110.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 37.91% from the stock’s previous close.

Other analysts have also issued reports about the company. Keefe, Bruyette & Woods raised Globe Life from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $130.00 to $110.00 in a research report on Wednesday. Truist Financial dropped their target price on Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday. StockNews.com lowered Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday. JPMorgan Chase & Co. lifted their price target on Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Finally, Evercore ISI decreased their price target on Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research note on Friday, April 12th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $114.33.

Globe Life Trading Up 5.3 %

Shares of NYSE GL traded up $4.00 during midday trading on Wednesday, hitting $79.76. The stock had a trading volume of 2,692,744 shares, compared to its average volume of 2,007,768. The company has a market capitalization of $7.50 billion, a price-to-earnings ratio of 7.53 and a beta of 0.69. Globe Life has a 1-year low of $38.95 and a 1-year high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. The company has a fifty day moving average price of $109.59 and a 200 day moving average price of $116.08.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the business earned $2.53 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, analysts predict that Globe Life will post 11.6 earnings per share for the current year.

Hedge Funds Weigh In On Globe Life

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Canvas Wealth Advisors LLC acquired a new position in shares of Globe Life during the first quarter worth approximately $419,000. Revisor Wealth Management LLC acquired a new position in shares of Globe Life during the first quarter worth approximately $314,000. Accurate Wealth Management LLC boosted its position in shares of Globe Life by 26.5% during the first quarter. Accurate Wealth Management LLC now owns 22,565 shares of the company’s stock worth $2,626,000 after buying an additional 4,727 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Globe Life by 128.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 169,527 shares of the company’s stock worth $19,728,000 after buying an additional 95,273 shares during the period. Finally, Nicholas Hoffman & Company LLC. boosted its position in shares of Globe Life by 11.7% during the first quarter. Nicholas Hoffman & Company LLC. now owns 8,764 shares of the company’s stock worth $1,020,000 after buying an additional 921 shares during the period. 81.61% of the stock is currently owned by institutional investors and hedge funds.

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.