Globe Life (NYSE:GL) Given New $172.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo & Company raised its price target for Globe Life from $150.00 to $172.00, indicating a potential upside of 25.73% from the current price.
• Globe Life reported earnings of $3.27 per share, exceeding analysts' expectations, with a revenue of $1.48 billion for the quarter.
• Institutional investors currently own 81.61% of Globe Life's stock, with significant positions being established by several new investors in the recent quarter.

Globe Life (NYSE:GL - Get Free Report) had its price objective increased by investment analysts at Wells Fargo & Company from $150.00 to $172.00 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 target price would indicate a potential upside of 25.73% from the company's current price.

A number of other research analysts have also commented on the stock. Morgan Stanley set a $179.00 price objective on shares of Globe Life and gave the company an "overweight" rating in a research report on Tuesday. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Globe Life in a research report on Saturday, September 27th. Truist Financial initiated coverage on shares of Globe Life in a research report on Tuesday, July 15th. They issued a "buy" rating and a $150.00 price target for the company. BMO Capital Markets reissued a "market perform" rating and issued a $149.00 price target (up previously from $114.00) on shares of Globe Life in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. increased their price target on shares of Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $155.18.

Globe Life Stock Performance

Globe Life stock traded up $1.16 on Wednesday, reaching $136.80. 60,359 shares of the stock were exchanged, compared to its average volume of 632,237. The stock has a market cap of $11.08 billion, a PE ratio of 10.94 and a beta of 0.55. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.43. Globe Life has a twelve month low of $100.27 and a twelve month high of $147.83. The firm has a fifty day moving average price of $140.43 and a two-hundred day moving average price of $128.66.

Globe Life (NYSE:GL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share for the quarter, topping analysts' consensus estimates of $3.25 by $0.02. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.50 billion. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. The business's revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.97 EPS. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. Sell-side analysts anticipate that Globe Life will post 13.87 EPS for the current year.

Insider Activity at Globe Life

In related news, EVP Michael Clay Majors sold 10,000 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $137.41, for a total transaction of $1,374,100.00. Following the sale, the executive vice president directly owned 47,066 shares in the company, valued at $6,467,339.06. This trade represents a 17.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO James Matthew Darden sold 33,270 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $135.59, for a total transaction of $4,511,079.30. Following the sale, the chief executive officer owned 49,842 shares in the company, valued at approximately $6,758,076.78. The trade was a 40.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 84,722 shares of company stock valued at $11,733,793. Insiders own 1.97% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GL. Global Assets Advisory LLC bought a new position in shares of Globe Life in the 2nd quarter valued at about $25,000. AdvisorNet Financial Inc boosted its holdings in shares of Globe Life by 60.0% during the 2nd quarter. AdvisorNet Financial Inc now owns 224 shares of the company's stock worth $28,000 after buying an additional 84 shares during the period. CYBER HORNET ETFs LLC bought a new stake in shares of Globe Life during the 2nd quarter worth about $28,000. Assetmark Inc. boosted its holdings in shares of Globe Life by 777.8% during the 2nd quarter. Assetmark Inc. now owns 237 shares of the company's stock worth $29,000 after buying an additional 210 shares during the period. Finally, MUFG Securities EMEA plc bought a new stake in shares of Globe Life during the 2nd quarter worth about $31,000. 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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