Piper Sandler Increases Globe Life (NYSE:GL) Price Target to $118.00

Globe Life (NYSE:GL) had its price objective lifted by equities research analysts at Piper Sandler from $106.00 to $118.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 12.54% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $118.00 price objective (up from $110.00) on shares of Globe Life in a research report on Wednesday, July 31st. Jefferies Financial Group raised their price objective on shares of Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, June 28th. Morgan Stanley upped their target price 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. Evercore ISI raised their price target 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. Finally, Wells Fargo & Company upped their price objective on Globe Life from $105.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.67.

Globe Life Trading Down 0.3 %

Shares of GL opened at $104.85 on Wednesday. Globe Life has a twelve month low of $38.95 and a twelve month high of $132.00. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $9.44 billion, a P/E ratio of 10.01 and a beta of 0.81. The firm’s 50-day moving average is $99.93 and its two-hundred day moving average is $91.47.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. The business had revenue of $1.44 billion for 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 company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.61 EPS. On average, research analysts predict that Globe Life will post 11.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Globe Life news, Director Mary E. Thigpen purchased 3,000 shares of the stock in a transaction on Friday, July 26th. The stock was bought at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the acquisition, the director now directly owns 15,605 shares of the company’s stock, valued at $1,407,571. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.51% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Globe Life

A number of hedge funds have recently made changes to their positions in GL. NBC Securities Inc. grew its stake in Globe Life by 2.7% during the first quarter. NBC Securities Inc. now owns 5,803 shares of the company’s stock worth $675,000 after buying an additional 153 shares during the period. Commonwealth Equity Services LLC increased its holdings in Globe Life by 0.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock valued at $4,082,000 after purchasing an additional 167 shares in the last quarter. Perigon Wealth Management LLC raised its position in Globe Life by 7.6% in the first quarter. Perigon Wealth Management LLC now owns 2,619 shares of the company’s stock valued at $305,000 after purchasing an additional 184 shares during the period. Bruce G. Allen Investments LLC lifted its stake in shares of Globe Life by 33.2% during the second quarter. Bruce G. Allen Investments LLC now owns 806 shares of the company’s stock worth $66,000 after purchasing an additional 201 shares in the last quarter. Finally, Quarry LP lifted its stake in shares of Globe Life by 47.5% during the second quarter. Quarry LP now owns 838 shares of the company’s stock worth $69,000 after purchasing an additional 270 shares in the last quarter. Institutional investors and hedge funds 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.