Globe Life (NYSE:GL) Given a $127.00 Price Target by Morgan Stanley Analysts

Globe Life (NYSE:GL - Get Free Report) received a $127.00 target price from stock analysts at Morgan Stanley in a report released on Monday, July 14th, MarketBeat Ratings reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's target price suggests a potential upside of 3.25% from the company's current price.

Several other research analysts have also recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Globe Life from $139.00 to $144.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. 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 reduced their target price 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. Finally, JPMorgan Chase & Co. raised their target price 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. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $143.82.

Globe Life Stock Up 2.3%

Globe Life stock traded up $2.72 during midday trading on Monday, reaching $123.01. The company's stock had a trading volume of 440,947 shares, compared to its average volume of 697,238. Globe Life has a fifty-two week low of $86.10 and a fifty-two week high of $133.76. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.43. The company has a market cap of $10.15 billion, a P/E ratio of 10.01 and a beta of 0.56. The business has a 50-day simple moving average of $120.87 and a 200-day simple moving average of $121.64.

Globe Life (NYSE:GL - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.24 by ($0.17). Globe Life had a return on equity of 21.44% and a net margin of 18.33%. The company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same period in the prior year, the business earned $2.78 EPS. The business's quarterly revenue was up 4.5% compared to the same quarter last year. On average, research analysts expect that Globe Life will post 13.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Globe Life news, CEO Frank M. Svoboda sold 6,019 shares of the stock in a transaction 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 owned 31,298 shares in the company, valued at $3,834,317.98. This trade represents a 16.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.97% of the company's stock.

Hedge Funds Weigh In On Globe Life

A number of hedge funds have recently bought and sold shares of the business. Global Assets Advisory LLC bought a new stake in shares of Globe Life in the 2nd quarter valued at $25,000. AdvisorNet Financial Inc increased its stake in shares of Globe Life by 60.0% in the 2nd quarter. AdvisorNet Financial Inc now owns 224 shares of the company's stock valued at $28,000 after acquiring an additional 84 shares in the last quarter. TD Private Client Wealth LLC bought a new stake in shares of Globe Life in the 2nd quarter valued at $39,000. EverSource Wealth Advisors LLC increased its stake in shares of Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock valued at $41,000 after acquiring an additional 90 shares in the last quarter. Finally, Avalon Trust Co bought a new stake in shares of Globe Life in the 4th quarter valued at $41,000. 81.61% of the stock is owned by institutional investors.

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.