Globe Life (NYSE:GL) Stock Gets Price Target Increase from JPMorgan Chase & Co.

Key Points

• JPMorgan raised Globe Life’s price target from $193 to $195 while maintaining an “overweight” rating, implying 16.54% potential upside. Analysts collectively rate the stock “Moderate Buy,” with a consensus target of $189.56.
• Globe Life shares recently traded at $167.32, while quarterly revenue rose 8% year over year to $1.60 billion; however, EPS of $3.61 fell short of estimates. The company also authorized a $2.5 billion share repurchase program, covering up to 17.7% of outstanding shares.
• Institutional ownership stands at 81.61%, including new positions from BlackRock and other major investors, while insiders sold 143,650 shares worth approximately $25.8 million over the past three months.

Globe Life (NYSE:GL - Get Free Report) had its price target increased by investment analysts at JPMorgan Chase & Co. from $193.00 to $195.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 16.54% from the stock's current price.

Several other brokerages also recently commented on GL. Weiss Ratings downgraded Globe Life from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, October 6th. Piper Sandler boosted their price objective on shares of Globe Life from $175.00 to $200.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. TD Cowen upped their price objective on shares of Globe Life from $215.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Jefferies Financial Group raised their target price on shares of Globe Life from $147.00 to $166.00 and gave the company a "hold" rating in a research note on Friday, July 10th. Finally, Wells Fargo & Company lifted their target price on shares of Globe Life from $190.00 to $191.00 and gave the stock an "overweight" rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $189.56.

Globe Life Stock Down 0.1%

Shares of NYSE:GL traded down $0.09 on Thursday, reaching $167.32. The company had a trading volume of 32,519 shares, compared to its average volume of 538,045. The stock has a market capitalization of $12.86 billion, a P/E ratio of 11.12 and a beta of 0.44. The stock has a 50-day moving average price of $172.11 and a 200 day moving average price of $166.02. Globe Life has a twelve month low of $127.85 and a twelve month high of $191.55. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.43.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $3.61 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.59 billion. During the same period in the prior year, the company posted $3.05 EPS. The business's revenue was up 8.0% on a year-over-year basis. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. On average, equities analysts expect that Globe Life will post 15.70 EPS for the current year.

Globe Life declared that its Board of Directors has approved a stock buyback program on Monday, August 10th that allows the company to buy back $2.50 billion in shares. This repurchase authorization allows the company to buy up to 17.7% of its stock through open market purchases. Share repurchase programs are typically an indication that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO James Darden sold 50,000 shares of the firm's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $182.43, for a total value of $9,121,500.00. Following the sale, the chief executive officer owned 58,451 shares in the company, valued at approximately $10,663,215.93. This trade represents a 46.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert Hensley sold 10,000 shares of the business's stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $170.07, for a total transaction of $1,700,700.00. Following the transaction, the executive vice president directly owned 12,384 shares in the company, valued at $2,106,146.88. This trade represents a 44.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 143,650 shares of company stock valued at $25,793,717 in the last three months. 2.11% of the stock is owned by corporate insiders.

Institutional Trading of Globe Life

Several hedge funds and other institutional investors have recently bought and sold shares of GL. BlackRock Inc. acquired a new position in Globe Life in the second quarter valued at approximately $987,901,000. Pzena Investment Management LLC bought a new position in Globe Life in the second quarter valued at approximately $242,256,000. Equity Investment Corp acquired a new stake in Globe Life during the 2nd quarter worth $122,971,000. Bank of America Corp DE acquired a new stake in Globe Life during the 2nd quarter worth $121,638,000. Finally, Bank of New York Mellon Corp acquired a new stake in Globe Life during the 2nd quarter worth $97,182,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

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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