Globe Life (NYSE:GL) Price Target Cut to $139.00 by Analysts at Wells Fargo & Company

Globe Life (NYSE:GL - Get Free Report) had its target price dropped by equities research analysts at Wells Fargo & Company from $140.00 to $139.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective suggests a potential upside of 13.96% from the company's previous close.

A number of other analysts also recently weighed in on the stock. Morgan Stanley reduced their target price on shares of Globe Life from $126.00 to $117.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. Keefe, Bruyette & Woods raised their target price on shares of Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. boosted their price target on Globe Life from $136.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. BMO Capital Markets initiated coverage on Globe Life in a research note on Thursday, January 23rd. They set a "market perform" rating and a $114.00 price objective for the company. Finally, Evercore ISI raised Globe Life from an "in-line" rating to an "outperform" rating and increased their target price for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $137.00.

Globe Life Trading Up 0.6 %

Shares of NYSE GL traded up $0.74 during trading hours on Tuesday, hitting $121.97. The company's stock had a trading volume of 436,110 shares, compared to its average volume of 875,882. Globe Life has a 12 month low of $76.55 and a 12 month high of $133.76. The stock has a market cap of $10.15 billion, a price-to-earnings ratio of 10.21 and a beta of 0.56. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The business has a 50-day simple moving average of $123.62 and a 200-day simple moving average of $117.17.

Globe Life (NYSE:GL - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $3.07 EPS for the quarter, missing analysts' consensus estimates of $3.24 by ($0.17). Globe Life had a net margin of 18.53% and a return on equity of 22.32%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the company earned $2.78 EPS. Globe Life's revenue was up 4.5% compared to the same quarter last year. On average, analysts anticipate that Globe Life will post 13.87 earnings per share for the current fiscal year.

Insider Transactions at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 11,000 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the sale, the chief executive officer now directly owns 18,948 shares of the company's stock, valued at $2,317,529.88. This trade represents a 36.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Matthew Darden sold 24,890 shares of the company's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total value of $3,024,632.80. Following the completion of the transaction, the chief executive officer now directly owns 38,973 shares of the company's stock, valued at approximately $4,735,998.96. This trade represents a 38.97 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.51% of the company's stock.

Hedge Funds Weigh In On Globe Life

Hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its stake in Globe Life by 0.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 781,409 shares of the company's stock valued at $102,927,000 after buying an additional 3,312 shares during the last quarter. Citizens Financial Group Inc. RI purchased a new position in shares of Globe Life in the first quarter valued at $890,000. Vestcor Inc increased its position in Globe Life by 9.0% in the first quarter. Vestcor Inc now owns 4,760 shares of the company's stock worth $627,000 after purchasing an additional 392 shares during the last quarter. XTX Topco Ltd raised its position in shares of Globe Life by 270.4% during the 1st quarter. XTX Topco Ltd now owns 15,344 shares of the company's stock valued at $2,021,000 after buying an additional 11,202 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Globe Life in the 1st quarter valued at approximately $227,000. 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.