Globe Life (NYSE:GL) Coverage Initiated at BMO Capital Markets

Analysts at BMO Capital Markets initiated coverage on shares of Globe Life (NYSE:GL) in a research note issued to investors on Thursday, Marketbeat.com reports. The firm set a “market perform” rating and a $114.00 price target on the stock. BMO Capital Markets’ price objective indicates a potential downside of 4.50% from the company’s current price.

Several other brokerages have also commented on GL. Jefferies Financial Group lifted their price objective on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. Raymond James upped their price target on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 15th. Morgan Stanley lifted their price objective on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Globe Life from $135.00 to $137.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Globe Life currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.18.

Globe Life Stock Performance

Shares of GL opened at $119.37 on Thursday. The stock has a 50 day moving average of $110.88 and a 200 day moving average of $104.40. The company has a market capitalization of $10.02 billion, a price-to-earnings ratio of 10.10 and a beta of 0.80. Globe Life has a 12 month low of $38.95 and a 12 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 0.50.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.06 by $0.43. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same period last year, the firm posted $2.71 EPS. As a group, sell-side analysts forecast that Globe Life will post 12.32 earnings per share for the current year.

Insider Activity

In other news, Director Mark A. Blinn sold 3,000 shares of the stock in a transaction 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 transaction, the director now owns 5,122 shares of the company’s stock, valued at $579,964.06. This represents a 36.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Frank M. Svoboda sold 13,448 shares of Globe Life stock in a transaction on Monday, January 6th. The stock was sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the sale, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at $2,132,786.88. This represents a 41.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,788 shares of company stock worth $4,429,779 in the last three months. Corporate insiders own 1.51% of the company’s stock.

Institutional Investors Weigh In On Globe Life

Large investors have recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. increased its position in shares of Globe Life by 88.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after purchasing an additional 281 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Globe Life by 105.5% during the second quarter. Canada Pension Plan Investment Board now owns 15,000 shares of the company’s stock valued at $1,234,000 after acquiring an additional 7,700 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Globe Life by 48.4% during the second quarter. ProShare Advisors LLC now owns 26,854 shares of the company’s stock worth $2,210,000 after acquiring an additional 8,758 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Globe Life by 5.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 14,275 shares of the company’s stock worth $1,175,000 after acquiring an additional 757 shares during the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of Globe Life in the 2nd quarter valued at $6,752,000. Hedge funds and other institutional investors 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.