Globe Life (NYSE:GL) Price Target Raised to $137.00

Globe Life (NYSE:GL) had its price target raised by investment analysts at Keefe, Bruyette & Woods from $135.00 to $137.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 22.41% from the stock’s current price.

Several other brokerages also recently weighed in on GL. Morgan Stanley increased their price target on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Raymond James raised their price target on shares of Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 15th. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and raised their price target for the company from $132.00 to $143.00 in a research note on Wednesday. Truist Financial increased their price objective on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a report on Friday, October 25th. Finally, Piper Sandler lifted their target price on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $134.00.

Globe Life Trading Down 1.9 %

Shares of NYSE GL traded down $2.20 during trading hours on Friday, reaching $111.92. The stock had a trading volume of 106,476 shares, compared to its average volume of 582,047. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The firm has a market cap of $9.40 billion, a price-to-earnings ratio of 9.47 and a beta of 0.80. The business’s fifty day moving average price is $108.89 and its two-hundred day moving average price is $101.76. Globe Life has a 52-week low of $38.95 and a 52-week high of $132.00.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. Globe Life’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.71 earnings per share. Analysts expect that Globe Life will post 12.31 EPS for the current fiscal year.

Insider Buying and Selling at Globe Life

In other news, CMO Jennifer Allison Haworth sold 9,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $112.91, for a total value of $1,016,190.00. Following the sale, the chief marketing officer now directly owns 13,485 shares in the company, valued at $1,522,591.35. This represents a 40.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Blinn sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $113.23, for a total transaction of $339,690.00. Following the sale, the director now owns 5,122 shares in the company, valued at approximately $579,964.06. This trade represents a 36.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,788 shares of company stock worth $4,429,779. 1.51% of the stock is owned by company insiders.

Institutional Trading of Globe Life

A number of hedge funds have recently bought and sold shares of GL. Versant Capital Management Inc boosted its holdings in shares of Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after purchasing an additional 194 shares during the last quarter. Riverview Trust Co purchased a new position in shares of Globe Life in the 3rd quarter valued at $32,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Globe Life by 88.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after acquiring an additional 281 shares during the period. True Wealth Design LLC purchased a new position in shares of Globe Life in the 3rd quarter valued at $59,000. Finally, Quarry LP raised its stake in shares of Globe Life by 47.5% in the 2nd quarter. Quarry LP now owns 838 shares of the company’s stock valued at $69,000 after acquiring an additional 270 shares during the period. Institutional investors and hedge funds 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.