Wells Fargo & Company Raises Globe Life (NYSE:GL) Price Target to $193.00

Key Points

• Wells Fargo raised its price target on Globe Life from $172 to $193 and kept an overweight rating, implying about 7.5% upside from the current price.
• Other analysts have also been constructive on the stock, with several price target increases and buy ratings; the broader consensus remains Moderate Buy with an average target price of $181.22.
• Globe Life shares rose 1.4% to $179.53, and the company recently reported Q1 EPS of $3.43, slightly below estimates, while revenue matched expectations and rose 5.3% year over year.

Globe Life (NYSE:GL - Get Free Report) had its target price hoisted by research analysts at Wells Fargo & Company from $172.00 to $193.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price target would indicate a potential upside of 7.51% from the company's current price.

Other analysts have also issued research reports about the stock. Piper Sandler increased their price objective on shares of Globe Life from $167.00 to $175.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 26th. Truist Financial lifted their price target on Globe Life from $180.00 to $185.00 and gave the company a "buy" rating in a research report on Friday, April 24th. Texas Capital raised shares of Globe Life to a "strong-buy" rating in a research note on Wednesday, March 18th. Weiss Ratings upgraded shares of Globe Life from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 13th. Finally, TD Cowen raised their price target on shares of Globe Life from $199.00 to $215.00 and gave the company a "buy" rating in a research report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $181.22.

Globe Life Stock Up 1.4%

NYSE GL traded up $2.46 on Thursday, reaching $179.53. 209,748 shares of the stock traded hands, compared to its average volume of 548,788. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.07 and a current ratio of 0.07. The company has a fifty day moving average price of $162.65 and a 200-day moving average price of $149.70. The company has a market cap of $13.94 billion, a price-to-earnings ratio of 12.41 and a beta of 0.47. Globe Life has a 12 month low of $116.73 and a 12 month high of $182.32.

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

Insider Activity

In related news, EVP Michael Clay Majors sold 34,000 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president directly owned 53,518 shares of the company's stock, valued at $8,231,603.58. This represents a 38.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas Peter Kalmbach sold 15,637 shares of the company's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $153.65, for a total value of $2,402,625.05. Following the sale, the chief financial officer directly owned 45,335 shares in the company, valued at $6,965,722.75. This represents a 25.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 124,187 shares of company stock worth $19,529,414 in the last quarter. Insiders own 2.11% of the company's stock.

Hedge Funds Weigh In On Globe Life

Large investors have recently bought and sold shares of the stock. Hilton Head Capital Partners LLC purchased a new position in shares of Globe Life during the 4th quarter worth approximately $30,000. CYBER HORNET ETFs LLC purchased a new position in Globe Life during the second quarter worth $28,000. MUFG Securities EMEA plc acquired a new position in shares of Globe Life in the second quarter worth $31,000. Torren Management LLC purchased a new stake in shares of Globe Life during the fourth quarter worth about $37,000. Finally, AdvisorNet Financial Inc lifted its stake in shares of Globe Life by 41.1% during the first quarter. AdvisorNet Financial Inc now owns 316 shares of the company's stock valued at $44,000 after buying an additional 92 shares during the period. 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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