Globe Life (NYSE:GL) Price Target Raised to $155.00

Key Points

• Keefe, Bruyette & Woods raised Globe Life's price target from $145.00 to $155.00, indicating a potential upside of 15.06% based on the stock's previous close.
• Globe Life's stock has received a consensus rating of "Moderate Buy" with analysts suggesting it has a potential average price target of $146.00.
• The company reported $3.27 EPS for the last quarter, slightly above the consensus estimate, with revenues showing a 2.9% increase compared to the same quarter last year.

Globe Life (NYSE:GL - Get Free Report) had its price objective hoisted by research analysts at Keefe, Bruyette & Woods from $145.00 to $155.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' price objective would indicate a potential upside of 15.72% from the company's previous close.

GL has been the subject of several other reports. Wall Street Zen upgraded shares of Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Piper Sandler decreased their price target on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. JPMorgan Chase & Co. raised their price target on shares of Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Wells Fargo & Company raised their price target on shares of Globe Life from $144.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Truist Financial started coverage on shares of Globe Life in a report on Tuesday, July 15th. They set a "buy" rating and a $150.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $146.00.

Globe Life Price Performance

Shares of GL traded down $1.19 during mid-day trading on Monday, hitting $133.94. The company's stock had a trading volume of 720,041 shares, compared to its average volume of 689,575. The firm has a 50-day moving average price of $121.75 and a 200 day moving average price of $122.30. The stock has a market capitalization of $11.06 billion, a price-to-earnings ratio of 10.71 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 has a fifty-two week low of $86.10 and a fifty-two week high of $138.41.

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 the consensus estimate of $3.25 by $0.02. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.50 billion. Globe Life had a net margin of 18.11% and a return on equity of 21.55%. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm posted $2.97 earnings per share. On average, research analysts predict that Globe Life will post 13.87 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO James Matthew Darden sold 33,270 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $135.59, for a total value of $4,511,079.30. Following the completion of the sale, the chief executive officer owned 49,842 shares of the company's stock, valued at approximately $6,758,076.78. This represents a 40.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Frank M. Svoboda sold 6,019 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $122.51, for a total value of $737,387.69. Following the completion of the sale, the chief executive officer directly owned 31,298 shares of the company's stock, valued at approximately $3,834,317.98. The trade was a 16.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.97% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its stake in Globe Life by 4.1% in the first quarter. Principal Financial Group Inc. now owns 101,679 shares of the company's stock valued at $13,393,000 after buying an additional 3,960 shares in the last quarter. DAVENPORT & Co LLC acquired a new stake in shares of Globe Life during the first quarter valued at about $493,000. Sequoia Financial Advisors LLC boosted its stake in shares of Globe Life by 693.4% during the first quarter. Sequoia Financial Advisors LLC now owns 24,184 shares of the company's stock valued at $3,185,000 after purchasing an additional 21,136 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Globe Life by 8.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,711 shares of the company's stock valued at $1,260,000 after purchasing an additional 723 shares in the last quarter. Finally, Lighthouse Investment Partners LLC boosted its stake in shares of Globe Life by 914.9% during the fourth quarter. Lighthouse Investment Partners LLC now owns 128,266 shares of the company's stock valued at $14,304,000 after purchasing an additional 115,628 shares in the last quarter. 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.