Globe Life (NYSE:GL - Get Free Report) had its target price boosted by research analysts at Wells Fargo & Company from $144.00 to $150.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price target would indicate a potential upside of 10.93% from the stock's previous close.
A number of other analysts have also recently issued reports on GL. Truist Financial started coverage on shares of Globe Life in a research note on Tuesday, July 15th. They issued a "buy" rating and a $150.00 price objective for the company. JPMorgan Chase & Co. increased their price target on Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Morgan Stanley raised their price target on Globe Life from $127.00 to $135.00 and gave the company an "equal weight" rating in a report on Friday. Wall Street Zen raised Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, Piper Sandler cut their target price on Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $145.09.
Check Out Our Latest Analysis on GL
Globe Life Stock Up 2.8%
Globe Life stock traded up $3.70 during mid-day trading on Friday, reaching $135.22. The stock had a trading volume of 1,363,169 shares, compared to its average volume of 654,019. Globe Life has a one year low of $86.10 and a one year high of $138.41. The company has a 50-day moving average price of $121.51 and a two-hundred day moving average price of $122.09. The company has a market capitalization of $11.16 billion, a price-to-earnings ratio of 10.81 and a beta of 0.56. 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 (NYSE:GL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $3.27 EPS for the quarter, beating the consensus estimate of $3.25 by $0.02. Globe Life had a return on equity of 21.55% and a net margin of 18.11%. The company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.50 billion. During the same period last year, the firm posted $2.97 earnings per share. Globe Life's revenue was up 2.9% compared to the same quarter last year. On average, analysts expect that Globe Life will post 13.87 EPS for the current fiscal year.
Insider Transactions at Globe Life
In related news, CEO Frank M. Svoboda sold 6,019 shares of Globe Life stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $122.51, for a total transaction of $737,387.69. Following the completion of the sale, the chief executive officer owned 31,298 shares of the company's stock, valued at $3,834,317.98. The trade was a 16.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.51% of the company's stock.
Institutional Trading of Globe Life
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Globe Life in the fourth quarter valued at approximately $112,454,000. Nuveen LLC purchased a new position in shares of Globe Life during the 1st quarter valued at approximately $131,608,000. GAMMA Investing LLC grew its stake in Globe Life by 15,553.5% in the 1st quarter. GAMMA Investing LLC now owns 781,890 shares of the company's stock valued at $102,991,000 after acquiring an additional 776,895 shares during the period. Leith Wheeler Investment Counsel Ltd. increased its holdings in Globe Life by 615.9% in the 2nd quarter. Leith Wheeler Investment Counsel Ltd. now owns 656,807 shares of the company's stock worth $81,635,000 after acquiring an additional 565,061 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new position in Globe Life during the fourth quarter worth $52,178,000. 81.61% of the stock is owned by institutional investors and hedge funds.
Globe Life Company Profile
(
Get Free Report)
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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