Globe Life (NYSE:GL) Given New $170.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo & Company has lowered its price target on Globe Life from $172.00 to $170.00, maintaining an "overweight" rating, suggesting a potential upside of 26.70% from the current price.
• Globe Life's stock is currently down 1.1%, trading at $134.17, with a market cap of $10.87 billion and a PE ratio of 9.74.
• Insider trading activity includes CEO Frank M. Svoboda selling 12,500 shares, decreasing his ownership by 27.63%, while institutional investors now hold 81.61% of the company's stock.

Globe Life (NYSE:GL - Get Free Report) had its price target dropped by stock analysts at Wells Fargo & Company from $172.00 to $170.00 in a report released on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price target would suggest a potential upside of 26.70% from the company's current price.

Several other analysts also recently weighed in on GL. Morgan Stanley set a $179.00 target price on Globe Life and gave the company an "overweight" rating in a report on Tuesday, October 7th. Keefe, Bruyette & Woods raised their target price on shares of Globe Life from $145.00 to $155.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. JPMorgan Chase & Co. upped their price target on shares of Globe Life from $145.00 to $160.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $149.00 target price (up from $114.00) on shares of Globe Life in a report on Wednesday, July 30th. Finally, Cfra Research raised Globe Life to a "moderate buy" rating in a report on Friday, July 25th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $152.78.

Globe Life Stock Down 1.1%

Shares of GL traded down $1.53 during mid-day trading on Friday, reaching $134.17. The company's stock had a trading volume of 20,862 shares, compared to its average volume of 629,467. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.06 and a quick ratio of 0.06. Globe Life has a 12-month low of $100.27 and a 12-month high of $147.83. The company's 50 day moving average is $139.57 and its 200 day moving average is $129.33. The stock has a market cap of $10.87 billion, a PE ratio of 9.74 and a beta of 0.55.

Globe Life (NYSE:GL - Get Free Report) last issued its earnings results on Wednesday, October 22nd. The company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.54 by $0.27. Globe Life had a net margin of 19.36% and a return on equity of 22.12%. The business had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.52 billion. During the same quarter in the prior year, the business posted $3.44 EPS. Globe Life has set its FY 2026 guidance at 14.600-15.300 EPS. FY 2025 guidance at 14.400-14.600 EPS. Equities analysts anticipate that Globe Life will post 13.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Frank M. Svoboda sold 12,500 shares of the business's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $141.38, for a total value of $1,767,250.00. Following the completion of the transaction, the chief executive officer directly owned 32,747 shares of the company's stock, valued at $4,629,770.86. The trade was a 27.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Michael Clay Majors sold 10,000 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $137.41, for a total value of $1,374,100.00. Following the sale, the executive vice president directly owned 47,066 shares in the company, valued at approximately $6,467,339.06. The trade was a 17.52% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,452 shares of company stock valued at $7,222,713. Corporate insiders own 1.51% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Mather Group LLC. purchased a new stake in Globe Life in the third quarter valued at approximately $28,000. Global Assets Advisory LLC acquired a new stake in Globe Life during the 2nd quarter worth approximately $25,000. AdvisorNet Financial Inc raised its holdings in Globe Life by 60.0% in the second quarter. AdvisorNet Financial Inc now owns 224 shares of the company's stock valued at $28,000 after buying an additional 84 shares during the period. CYBER HORNET ETFs LLC acquired a new position in Globe Life during the second quarter valued at approximately $28,000. Finally, Assetmark Inc. grew its stake in Globe Life by 777.8% during the second quarter. Assetmark Inc. now owns 237 shares of the company's stock worth $29,000 after buying an additional 210 shares during the period. Institutional investors and hedge funds 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.

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