Wells Fargo & Company Lowers Globe Life (NYSE:GL) Price Target to $108.00

Globe Life (NYSE:GL) had its price objective decreased by equities researchers at Wells Fargo & Company from $132.00 to $108.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 42.97% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Evercore ISI cut their target price on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a report on Friday, April 12th. Piper Sandler dropped their price target on Globe Life from $143.00 to $130.00 and set an “overweight” rating on the stock in a research report on Friday, April 5th. StockNews.com downgraded Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. JPMorgan Chase & Co. boosted their target price on Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Finally, Keefe, Bruyette & Woods raised Globe Life from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $130.00 to $110.00 in a report on Wednesday. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $114.33.

Globe Life Price Performance

Shares of GL opened at $75.54 on Wednesday. The firm has a fifty day moving average price of $107.65 and a 200 day moving average price of $115.54. The stock has a market cap of $7.10 billion, a PE ratio of 7.21 and a beta of 0.69. Globe Life has a 1-year low of $38.95 and a 1-year high of $132.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL) last posted its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.53 earnings per share. As a group, sell-side analysts anticipate that Globe Life will post 11.6 EPS for the current year.

Institutional Trading of Globe Life

A number of institutional investors have recently added to or reduced their stakes in the stock. Lindbrook Capital LLC increased its holdings in Globe Life by 62.2% in the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after buying an additional 92 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in Globe Life by 4.9% during the third quarter. Sequoia Financial Advisors LLC now owns 2,111 shares of the company’s stock worth $230,000 after purchasing an additional 99 shares during the last quarter. Stonegate Investment Group LLC boosted its position in Globe Life by 0.3% during the fourth quarter. Stonegate Investment Group LLC now owns 34,123 shares of the company’s stock worth $4,153,000 after purchasing an additional 116 shares in the last quarter. Brown Advisory Inc. grew its holdings in Globe Life by 3.0% in the third quarter. Brown Advisory Inc. now owns 4,127 shares of the company’s stock valued at $449,000 after purchasing an additional 121 shares during the last quarter. Finally, Tectonic Advisors LLC increased its position in shares of Globe Life by 5.3% in the fourth quarter. Tectonic Advisors LLC now owns 2,960 shares of the company’s stock valued at $360,000 after buying an additional 150 shares in the last quarter. 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.