Globe Life (NYSE:GL) Now Covered by BMO Capital Markets

Research analysts at BMO Capital Markets initiated coverage on shares of Globe Life (NYSE:GL) in a report issued on Thursday,Benzinga reports. The brokerage set a “market perform” rating and a $114.00 price target on the stock. BMO Capital Markets’ price objective would indicate a potential downside of 5.46% from the company’s current price.

GL has been the subject of several other reports. Wells Fargo & Company lifted their price objective on shares of Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Jefferies Financial Group increased their price objective on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Truist Financial boosted their target price on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Morgan Stanley increased their price target on shares of Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Finally, Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.18.

Globe Life Price Performance

GL stock opened at $120.59 on Thursday. The business’s 50-day moving average is $110.49 and its two-hundred day moving average is $104.03. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market capitalization of $10.12 billion, a P/E ratio of 10.20 and a beta of 0.80. Globe Life has a 1 year low of $38.95 and a 1 year high of $132.00.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the company earned $2.71 earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. Analysts anticipate that Globe Life will post 12.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Globe Life news, CEO Frank M. Svoboda sold 13,448 shares of Globe Life stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $112.56, for a total value of $1,513,706.88. Following the transaction, the chief executive officer now directly owns 18,948 shares in the company, valued at approximately $2,132,786.88. This trade represents a 41.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the completion of the transaction, the director now directly owns 5,122 shares in the company, valued at approximately $579,964.06. The trade was a 36.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,788 shares of company stock valued at $4,429,779 over the last quarter. 1.51% of the stock is currently owned by insiders.

Institutional Trading of Globe Life

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp lifted its position in Globe Life by 3.4% in the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after purchasing an additional 115,432 shares during the period. Principal Financial Group Inc. raised its stake in shares of Globe Life by 9.0% during the 3rd quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock worth $11,154,000 after buying an additional 8,663 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Globe Life by 85.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company’s stock valued at $2,095,000 after buying an additional 9,141 shares during the period. Lighthouse Investment Partners LLC purchased a new stake in shares of Globe Life in the second quarter valued at approximately $4,018,000. Finally, Stifel Financial Corp grew its holdings in Globe Life by 2.9% during the third quarter. Stifel Financial Corp now owns 245,930 shares of the company’s stock worth $26,046,000 after acquiring an additional 6,935 shares during the period. 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.