Globe Life (NYSE:GL) Now Covered by TD Cowen

Stock analysts at TD Cowen began coverage on shares of Globe Life (NYSE:GL) in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $150.00 price target on the stock. TD Cowen’s price objective would suggest a potential upside of 40.94% from the company’s previous close.

A number of other research analysts have also recently issued reports on GL. Morgan Stanley lifted their price objective on Globe Life from $66.00 to $83.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Truist Financial lifted their price objective on Globe Life from $80.00 to $90.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Evercore ISI lifted their target price on Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a report on Wednesday, June 26th. Piper Sandler lifted their target price on Globe Life from $106.00 to $118.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company lifted their target price on Globe Life from $105.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $114.60.

Globe Life Trading Down 0.7 %

NYSE GL opened at $106.43 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 0.31, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a 50 day simple moving average of $101.54 and a two-hundred day simple moving average of $91.17. The stock has a market cap of $9.56 billion, a P/E ratio of 9.62 and a beta of 0.81.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. The company 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 21.93% and a net margin of 18.47%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.61 EPS. On average, analysts forecast that Globe Life will post 11.93 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Mary E. Thigpen bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were bought at an average cost of $90.20 per share, for a total transaction of $270,600.00. Following the completion of the transaction, the director now owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.51% of the stock is owned by company insiders.

Institutional Investors Weigh In On Globe Life

Large investors have recently added to or reduced their stakes in the stock. Keener Financial Planning LLC bought a new stake in Globe Life during the first quarter worth approximately $49,000. Benjamin F. Edwards & Company Inc. increased its stake 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. LRI Investments LLC increased its stake in Globe Life by 898.4% during the second quarter. LRI Investments LLC now owns 619 shares of the company’s stock worth $51,000 after acquiring an additional 557 shares during the last quarter. Family Firm Inc. bought a new stake in Globe Life during the second quarter worth approximately $54,000. Finally, Blue Trust Inc. increased its stake in Globe Life by 249.5% during the second quarter. Blue Trust Inc. now owns 776 shares of the company’s stock worth $64,000 after acquiring an additional 554 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

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.