Globe Life (NYSE:GL) Now Covered by BMO Capital Markets

Equities researchers at BMO Capital Markets began coverage on shares of Globe Life (NYSE:GL) in a report released on Thursday, Marketbeat Ratings reports. The brokerage set a “market perform” rating and a $114.00 price target on the stock. BMO Capital Markets’ target price indicates a potential downside of 4.50% from the company’s current price.

A number of other brokerages also recently issued reports on GL. Wells Fargo & Company boosted their price target on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Raymond James raised their price target on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 15th. Morgan Stanley boosted their price objective on shares of Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Finally, TD Cowen began coverage on shares of Globe Life in a research report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price target on the stock. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Globe Life has a consensus rating of “Moderate Buy” and an average target price of $132.18.

Globe Life Stock Up 0.8 %

Shares of Globe Life stock opened at $119.37 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life has a 52-week low of $38.95 and a 52-week high of $132.00. The company’s 50 day moving average price is $110.88 and its 200-day moving average price is $104.40. The stock has a market capitalization of $10.02 billion, a price-to-earnings ratio of 10.10 and a beta of 0.80.

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

Insider Transactions at Globe Life

In other news, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $113.23, for a total value of $339,690.00. Following the completion of the transaction, the director now owns 5,122 shares of the company’s stock, valued at $579,964.06. The trade was a 36.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank M. Svoboda sold 13,448 shares of the stock in a transaction dated Monday, January 6th. The shares were 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 in the company, valued at $2,132,786.88. This trade represents a 41.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,788 shares of company stock valued at $4,429,779 in the last ninety days. 1.51% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GL. State Street Corp raised its holdings in Globe Life by 3.4% in the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after acquiring an additional 115,432 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Globe Life by 3.5% in the third quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock worth $276,994,000 after purchasing an additional 89,299 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Globe Life by 22.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock valued at $160,949,000 after purchasing an additional 277,108 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Globe Life by 177.0% during the second quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock valued at $105,303,000 after purchasing an additional 817,760 shares in the last quarter. Finally, Nuance Investments LLC boosted its position in shares of Globe Life by 155.6% during the third quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock valued at $120,629,000 after buying an additional 693,346 shares during the last quarter. Institutional investors 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.