Globe Life (NYSE:GL) Stock Gets Price Target Bump from Wells Fargo & Company

Key Points

• Wells Fargo raised Globe Life’s price target from $190 to $191 while maintaining an “overweight” rating, implying 15.35% potential upside. Analysts overall rate the stock “Moderate Buy,” with an average target of $190.22.
• Globe Life’s shares rose 0.9% to $165.58, while the company reported quarterly revenue growth of 8% year over year but missed earnings expectations by $0.06 per share.
• The board authorized a $2.5 billion stock buyback, allowing repurchases of up to 17.7% of outstanding shares; meanwhile, insiders sold roughly $25.8 million of stock over the past 90 days.

Globe Life (NYSE:GL - Get Free Report) had its target price hoisted by Wells Fargo & Company from $190.00 to $191.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's target price indicates a potential upside of 15.35% from the company's current price.

Other equities analysts also recently issued research reports about the company. TD Cowen upped their price target on Globe Life from $215.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. Morgan Stanley decreased their price target on shares of Globe Life from $208.00 to $197.00 and set an "overweight" rating for the company in a research note on Monday, October 5th. Jefferies Financial Group lifted their price objective on shares of Globe Life from $147.00 to $166.00 and gave the company a "hold" rating in a report on Friday, July 10th. JPMorgan Chase & Co. boosted their price objective on shares of Globe Life from $181.00 to $201.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 21st. Finally, Piper Sandler increased their target price on shares of Globe Life from $175.00 to $200.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $190.22.

Globe Life Stock Up 0.9%

GL traded up $1.41 during trading on Monday, reaching $165.58. The company had a trading volume of 15,216 shares, compared to its average volume of 541,298. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.07 and a quick ratio of 0.07. Globe Life has a 12 month low of $127.85 and a 12 month high of $191.55. The business's fifty day moving average price is $173.18 and its 200 day moving average price is $165.43. The company has a market cap of $12.72 billion, a P/E ratio of 10.99 and a beta of 0.44.

Globe Life (NYSE:GL - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $3.61 earnings per share for the quarter, missing the consensus estimate of $3.67 by ($0.06). Globe Life had a net margin of 19.58% and a return on equity of 20.52%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter last year, the company earned $3.05 EPS. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Equities analysts anticipate that Globe Life will post 15.70 EPS for the current year.

Globe Life announced that its board has initiated a stock buyback plan on Monday, August 10th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the company to repurchase up to 17.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Insider Transactions at Globe Life

In other Globe Life news, EVP Michael Majors sold 37,000 shares of the business's stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $178.64, for a total value of $6,609,680.00. Following the completion of the sale, the executive vice president owned 53,518 shares of the company's stock, valued at $9,560,455.52. The trade was a 40.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Robert Hensley sold 10,000 shares of Globe Life stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $170.07, for a total transaction of $1,700,700.00. Following the completion of the sale, the executive vice president owned 12,384 shares of the company's stock, valued at approximately $2,106,146.88. The trade was a 44.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 143,650 shares of company stock valued at $25,793,717. Corporate insiders own 2.11% of the company's stock.

Institutional Investors Weigh In On Globe Life

Several institutional investors and hedge funds have recently bought and sold shares of GL. GAMMA Investing LLC boosted its holdings in shares of Globe Life by 2.4% in the 3rd quarter. GAMMA Investing LLC now owns 7,943 shares of the company's stock valued at $1,316,000 after purchasing an additional 189 shares in the last quarter. Westwind Capital increased its stake in shares of Globe Life by 5.7% in the third quarter. Westwind Capital now owns 10,187 shares of the company's stock valued at $1,687,000 after buying an additional 545 shares during the period. QRG Capital Management Inc. raised its holdings in Globe Life by 16.7% during the 2nd quarter. QRG Capital Management Inc. now owns 7,790 shares of the company's stock worth $1,392,000 after purchasing an additional 1,113 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Globe Life by 3.3% during the second quarter. Envestnet Asset Management Inc. now owns 130,419 shares of the company's stock worth $23,303,000 after buying an additional 4,201 shares during the last quarter. Finally, State Street Corp raised its position in shares of Globe Life by 2.1% in the 2nd quarter. State Street Corp now owns 3,735,409 shares of the company's stock worth $667,443,000 after acquiring an additional 76,745 shares in the last quarter. Institutional investors own 81.61% of the company's stock.

About Globe Life

Globe Life Inc NYSE: GL is an insurance holding company that provides life and supplemental health insurance products to individuals and families in the United States. Its offerings include term and whole life insurance, mortgage protection coverage, accident and supplemental health policies, and Medicare supplement insurance.

The company distributes its products through a network of insurance agencies, independent agents, and direct-to-consumer channels. Its principal insurance businesses include Globe Life and Accident Insurance Company, American Income Life Insurance Company, Liberty National Life Insurance Company, and Family Heritage Life Insurance Company.

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