Morgan Stanley Raises Globe Life (NYSE:GL) Price Target to $171.00

Key Points

• Analysts at Morgan Stanley increased their price target for Globe Life (NYSE: GL) from $166.00 to $171.00, suggesting a potential upside of 26.24% from the current price.
• The stock has received multiple "overweight" ratings from other analysts, with a consensus rating of "Moderate Buy" and an average target price of $152.45.
• CEO James Matthew Darden sold over 33,000 shares of Globe Life stock recently, reflecting a 40.03% decrease in his ownership, amidst a trend of insider sales totaling over $12 million in the last three months.

Globe Life (NYSE:GL - Get Free Report) had its price target lifted by analysts at Morgan Stanley from $166.00 to $171.00 in a research report issued on Monday, MarketBeat reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's price objective indicates a potential upside of 25.15% from the company's previous close.

Several other brokerages also recently issued reports on GL. Piper Sandler lowered their price objective on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Keefe, Bruyette & Woods raised their price objective on shares of Globe Life from $145.00 to $155.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Wells Fargo & Company raised their price objective on shares of Globe Life from $144.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. 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 on the stock. Finally, Wall Street Zen upgraded shares of Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Globe Life currently has an average rating of "Moderate Buy" and a consensus price target of $152.45.

Globe Life Stock Performance

GL stock traded up $0.6440 during midday trading on Monday, hitting $136.6340. 60,399 shares of the company traded hands, compared to its average volume of 655,255. Globe Life has a twelve month low of $97.13 and a twelve month high of $144.00. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.43. The business has a 50 day simple moving average of $127.28 and a 200-day simple moving average of $124.44. The stock has a market capitalization of $11.07 billion, a price-to-earnings ratio of 10.93 and a beta of 0.56.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings results 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 21.24% and a net margin of 18.11%.The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the company posted $2.97 earnings per share. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. As a group, equities research analysts predict that Globe Life will post 13.87 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Thomas Peter Kalmbach sold 28,952 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $140.97, for a total transaction of $4,081,363.44. Following the transaction, the chief financial officer directly owned 30,665 shares of the company's stock, valued at approximately $4,322,845.05. The trade was a 48.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Matthew Darden sold 33,270 shares of the business's 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 transaction, the chief executive officer directly owned 49,842 shares in the company, valued at $6,758,076.78. The trade was a 40.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,722 shares of company stock worth $11,733,793. Company insiders own 1.97% of the company's stock.

Institutional Trading of Globe Life

Large investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. raised its stake in Globe Life by 82.6% during the second quarter. Geneos Wealth Management Inc. now owns 6,788 shares of the company's stock worth $844,000 after acquiring an additional 3,071 shares in the last quarter. CYBER HORNET ETFs LLC bought a new position in Globe Life in the second quarter valued at about $28,000. Headlands Technologies LLC raised its position in Globe Life by 893.6% in the second quarter. Headlands Technologies LLC now owns 775 shares of the company's stock valued at $96,000 after purchasing an additional 697 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in Globe Life by 1.2% in the second quarter. CANADA LIFE ASSURANCE Co now owns 54,772 shares of the company's stock valued at $6,817,000 after purchasing an additional 672 shares during the last quarter. Finally, MUFG Securities EMEA plc bought a new position in shares of Globe Life during the second quarter worth about $31,000. 81.61% of the stock is owned by institutional investors and hedge funds.

Globe Life Company Profile

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.