Globe Life (NYSE:GL) Price Target Raised to $125.00

Globe Life (NYSE:GL) had its price target increased by Morgan Stanley from $123.00 to $125.00 in a research report sent to investors on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other analysts also recently issued reports on GL. BMO Capital Markets assumed coverage on Globe Life in a research note on Thursday, January 23rd. They set a “market perform” rating and a $114.00 target price on the stock. Jefferies Financial Group lifted their price objective on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods lifted their price objective on Globe Life from $135.00 to $137.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Finally, Truist Financial lifted their price objective on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Globe Life has a consensus rating of “Moderate Buy” and an average target price of $133.10.

Globe Life Stock Up 1.7 %

Shares of GL opened at $123.58 on Tuesday. The business’s 50 day moving average is $114.32 and its 200 day moving average is $107.77. The company has a market capitalization of $10.37 billion, a PE ratio of 10.34 and a beta of 0.81. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. Research analysts expect that Globe Life will post 13.57 earnings per share for the current fiscal year.

Insider Activity

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $113.23, for a total value of $339,690.00. Following the sale, the director now owns 5,122 shares in the company, valued at $579,964.06. This trade represents a 36.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James Matthew Darden sold 24,890 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the completion of the transaction, the chief executive officer now directly owns 38,973 shares in the company, valued at $4,735,998.96. This represents a 38.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,678 shares of company stock valued at $7,454,412. 1.51% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Globe Life

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GL. Norges Bank bought a new stake in Globe Life during the 4th quarter valued at about $112,454,000. Nuance Investments LLC lifted its holdings in Globe Life by 155.6% during the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock valued at $120,629,000 after buying an additional 693,346 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Globe Life during the 4th quarter valued at about $61,238,000. Swedbank AB bought a new stake in Globe Life during the 4th quarter valued at about $52,414,000. Finally, Marshall Wace LLP lifted its holdings in Globe Life by 1,702.5% during the 4th quarter. Marshall Wace LLP now owns 484,692 shares of the company’s stock valued at $54,053,000 after buying an additional 457,802 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.

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.