Globe Life (NYSE:GL) had its target price lowered by investment analysts at UBS Group from $85.00 to $84.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage presently has a “sell” rating on the stock. UBS Group’s price objective suggests a potential downside of 10.88% from the company’s previous close.
A number of other equities research analysts have also recently issued reports on GL. Zacks Investment Research upgraded shares of Globe Life from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a report on Tuesday, September 3rd. ValuEngine cut shares of Globe Life from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Credit Suisse Group began coverage on shares of Globe Life in a report on Friday, September 20th. They set an “outperform” rating and a $114.00 price target for the company.
GL stock opened at $94.25 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.06 and a quick ratio of 0.06. Globe Life has a 52-week low of $69.68 and a 52-week high of $96.92. The company’s 50-day moving average price is $92.39. The company has a market capitalization of $10.28 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 1.82 and a beta of 0.95.
Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, July 24th. The company reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.02. Globe Life had a net margin of 16.26% and a return on equity of 12.34%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. On average, equities analysts forecast that Globe Life will post 6.73 earnings per share for the current fiscal year.
In related news, EVP Vern D. Herbel sold 50,000 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $92.25, for a total value of $4,612,500.00. Following the completion of the sale, the executive vice president now owns 50,000 shares in the company, valued at $4,612,500. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Charles E. Adair sold 3,670 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $91.65, for a total transaction of $336,355.50. Following the completion of the sale, the director now owns 7,699 shares of the company’s stock, valued at approximately $705,613.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,820 shares of company stock valued at $9,241,936. 3.64% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mitchell Mcleod Pugh & Williams Inc. bought a new stake in shares of Globe Life in the third quarter valued at about $1,050,000. CX Institutional acquired a new position in Globe Life in the third quarter worth about $161,000. M&R Capital Management Inc. acquired a new position in Globe Life in the third quarter worth about $2,477,000. Rowland & Co. Investment Counsel ADV acquired a new position in Globe Life in the third quarter worth about $1,696,000. Finally, Everence Capital Management Inc. acquired a new position in Globe Life in the third quarter worth about $585,000. Institutional investors and hedge funds own 75.43% 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 to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.
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