Morgan Stanley Issues Positive Forecast for Globe Life (NYSE:GL) Stock Price

Key Points

• Morgan Stanley has raised its price target for Globe Life (NYSE:GL) from $127.00 to $135.00, indicating a potential upside of 2.73% from the previous close while maintaining an "equal weight" rating on the stock.
• The overall consensus among analysts shows a "Moderate Buy" rating, with a consensus target price of $144.55 for Globe Life, with most analysts leaning towards buy ratings.
• Globe Life reported a quarterly EPS of $3.27, surpassing estimates, and revealed a net margin of 18.11% along with a revenue of $1.48 billion during the last quarter.

Globe Life (NYSE:GL - Get Free Report) had its price objective hoisted by research analysts at Morgan Stanley from $127.00 to $135.00 in a research note issued on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's price target indicates a potential upside of 2.73% from the company's previous close.

Several other equities research analysts have also weighed in on GL. Piper Sandler cut their target price on Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Wall Street Zen raised Globe Life from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. lifted their target price on Globe Life from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Wells Fargo & Company lifted their target price on Globe Life from $139.00 to $144.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Truist Financial assumed coverage on Globe Life in a research note on Tuesday, July 15th. They issued a "buy" rating and a $150.00 target price on the stock. 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $144.55.

Globe Life Stock Performance

Shares of Globe Life stock opened at $131.42 on Friday. The business has a 50-day moving average of $121.24 and a 200 day moving average of $121.87. Globe Life has a 12 month low of $86.10 and a 12 month high of $133.76. The stock has a market capitalization of $10.85 billion, a price-to-earnings ratio of 10.51 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 announced its quarterly earnings data on Wednesday, July 23rd. The company reported $3.27 earnings per share (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 business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter last year, the business posted $2.97 EPS. The business's quarterly revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Globe Life will post 13.87 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Frank M. Svoboda sold 6,019 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was 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 of the company's stock, valued at $3,834,317.98. This represents a 16.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.51% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Global Assets Advisory LLC acquired a new stake in Globe Life during the second quarter valued at approximately $25,000. AdvisorNet Financial Inc raised its stake in Globe Life by 60.0% during the second quarter. AdvisorNet Financial Inc now owns 224 shares of the company's stock valued at $28,000 after buying an additional 84 shares in the last quarter. TD Private Client Wealth LLC acquired a new stake in Globe Life during the second quarter valued at approximately $39,000. SouthState Corp acquired a new stake in shares of Globe Life during the 1st quarter worth approximately $43,000. Finally, Ransom Advisory Ltd acquired a new stake in shares of Globe Life during the 1st quarter worth approximately $50,000. Hedge funds and other 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.

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