Globe Life (NYSE:GL) Receives "Market Perform" Rating from BMO Capital Markets

Key Points

• BMO Capital Markets has raised the price target for Globe Life from $114.00 to $149.00, indicating a potential upside of 4.59% from the company's previous close.
• Other analysts have mixed ratings on Globe Life, with Piper Sandler decreasing their target from $152.00 to $147.00, while JPMorgan raised their target from $145.00 to $160.00.
• Globe Life's stock has seen fluctuations, trading down 0.6% to $142.46, with an average rating of "Moderate Buy" across analysts.

Globe Life (NYSE:GL - Get Free Report)'s stock had its "market perform" rating reiterated by analysts at BMO Capital Markets in a research note issued on Wednesday, MarketBeat reports. They presently have a $149.00 target price on the stock, up from their previous target price of $114.00. BMO Capital Markets' target price would suggest a potential upside of 8.62% from the stock's current price.

Other analysts also recently issued research reports about the company. Wells Fargo & Company upped their target price on Globe Life from $144.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Morgan Stanley upped their target price on Globe Life from $127.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Keefe, Bruyette & Woods upped their target price on Globe Life from $145.00 to $155.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Truist Financial started coverage on Globe Life in a research note on Tuesday, July 15th. They issued a "buy" rating and a $150.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their target price on Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Globe Life presently has a consensus rating of "Moderate Buy" and an average target price of $149.18.

Globe Life Stock Performance

Globe Life stock traded down $3.29 during trading hours on Wednesday, hitting $137.18. 756,639 shares of the stock traded hands, compared to its average volume of 757,545. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.07 and a quick ratio of 0.07. The firm's 50 day moving average price is $123.36 and its 200-day moving average price is $122.92. The stock has a market capitalization of $11.32 billion, a price-to-earnings ratio of 10.97 and a beta of 0.56. Globe Life has a 1 year low of $86.10 and a 1 year high of $144.00.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share for the quarter, beating the consensus estimate of $3.25 by $0.02. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.50 billion. Globe Life had a return on equity of 21.55% and a net margin of 18.11%. The company's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.97 EPS. As a group, equities analysts expect that Globe Life will post 13.87 EPS for the current fiscal year.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO James Matthew Darden sold 33,270 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $135.59, for a total transaction of $4,511,079.30. Following the completion of the transaction, the chief executive officer owned 49,842 shares of the company's stock, valued at $6,758,076.78. This represents a 40.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frank M. Svoboda sold 12,500 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $141.38, for a total value of $1,767,250.00. Following the transaction, the chief executive officer directly owned 32,747 shares of the company's stock, valued at $4,629,770.86. The trade was a 27.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 80,741 shares of company stock valued at $11,097,080 over the last quarter. 1.51% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Globe Life

A number of hedge funds have recently made changes to their positions in GL. Global Assets Advisory LLC purchased a new position in Globe Life during the second quarter worth approximately $25,000. AdvisorNet Financial Inc increased its stake in shares of Globe Life by 60.0% in the 2nd quarter. AdvisorNet Financial Inc now owns 224 shares of the company's stock worth $28,000 after acquiring an additional 84 shares during the last quarter. TD Private Client Wealth LLC acquired a new stake in shares of Globe Life in the 2nd quarter worth $39,000. SouthState Corp acquired a new stake in shares of Globe Life in the 1st quarter worth $43,000. Finally, Ransom Advisory Ltd acquired a new stake in shares of Globe Life in the 1st quarter worth $50,000. Institutional investors and hedge funds 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.