Globe Life (NYSE:GL) Price Target Raised to $192.00

Key Points

• Keefe, Bruyette & Woods raised Globe Life’s price target from $180 to $192 and kept an outperform rating, implying about 7.2% upside from the current share price.
• Other analysts have also turned more positive, with recent target hikes from firms including Morgan Stanley, TD Cowen, and Piper Sandler; the stock now carries a Moderate Buy consensus and an average target of $182.10.
• Globe Life recently reported Q2 earnings of $3.43 per share, slightly below estimates, while revenue matched expectations at $1.56 billion and rose 5.3% year over year. The company also disclosed insider selling, including transactions by its EVP and CEO.

Globe Life (NYSE:GL - Get Free Report) had its price objective increased by analysts at Keefe, Bruyette & Woods from $180.00 to $192.00 in a report issued on Monday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' price objective indicates a potential upside of 7.20% from the company's current price.

Several other equities research analysts also recently weighed in on the company. Texas Capital raised Globe Life to a "strong-buy" rating in a research report on Wednesday, March 18th. Morgan Stanley lifted their price objective on shares of Globe Life from $181.00 to $208.00 and gave the company an "overweight" rating in a research note on Monday, July 6th. TD Cowen boosted their target price on shares of Globe Life from $199.00 to $215.00 and gave the stock a "buy" rating in a research report on Tuesday, June 23rd. Weiss Ratings raised shares of Globe Life from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 13th. Finally, Piper Sandler increased their price target on Globe Life from $167.00 to $175.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $182.10.

Globe Life Price Performance

Globe Life stock opened at $179.10 on Monday. The firm has a fifty day moving average of $163.71 and a 200-day moving average of $150.24. Globe Life has a 52-week low of $117.30 and a 52-week high of $182.32. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $13.91 billion, a P/E ratio of 12.39 and a beta of 0.47.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $3.43 earnings per share for the quarter, missing analysts' consensus estimates of $3.46 by ($0.03). Globe Life had a return on equity of 20.94% and a net margin of 19.38%.The business had revenue of $1.56 billion for the quarter, compared to analysts' expectations of $1.56 billion. During the same period last year, the company posted $3.07 earnings per share. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. Globe Life has set its FY 2026 guidance at 15.400-15.90 EPS. As a group, analysts predict that Globe Life will post 15.64 EPS for the current year.

Insider Buying and Selling at Globe Life

In other Globe Life news, EVP Michael Clay Majors sold 34,000 shares of the business's stock in a transaction on Friday, April 24th. The shares were sold at an average price of $153.81, for a total transaction of $5,229,540.00. Following the completion of the sale, the executive vice president owned 53,518 shares in the company, valued at $8,231,603.58. The trade was a 38.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Frank M. Svoboda sold 10,000 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $166.68, for a total transaction of $1,666,800.00. Following the sale, the chief executive officer directly owned 54,020 shares in the company, valued at $9,004,053.60. This trade represents a 15.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 124,187 shares of company stock worth $19,529,414. 2.11% of the stock is owned by insiders.

Institutional Investors Weigh In On Globe Life

Several institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Globe Life by 6.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,391 shares of the company's stock worth $1,237,000 after purchasing an additional 607 shares during the period. NewEdge Advisors LLC increased its position in shares of Globe Life by 368.1% in the first quarter. NewEdge Advisors LLC now owns 6,806 shares of the company's stock worth $897,000 after acquiring an additional 5,352 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Globe Life by 11.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 563,021 shares of the company's stock valued at $74,161,000 after acquiring an additional 58,163 shares in the last quarter. Empowered Funds LLC acquired a new position in Globe Life in the 1st quarter worth approximately $428,000. Finally, Focus Partners Wealth grew its position in Globe Life by 8.3% during the 1st quarter. Focus Partners Wealth now owns 8,559 shares of the company's stock worth $1,127,000 after purchasing an additional 656 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

About Globe Life

Globe Life, traded on the NYSE under the symbol GL, is a U.S.-based insurance holding company that underwrites and distributes a range of life and supplemental health insurance products. Through its subsidiary brands—Globe Life, American Income Life, Liberty National Life, United American Insurance Company and Family Heritage Life—it offers term life, whole life, fixed annuities and supplemental health coverage designed to meet the needs of individuals and families across various socioeconomic segments.

The company's product suite includes low-cost, easy-to-understand life insurance policies, accidental death and dismemberment coverage, hospital indemnity plans and specified disease insurance.

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