Globe Life (NYSE:GL) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Globe Life (NYSE:GL) had its price objective boosted by Wells Fargo & Company from $172.00 to $193.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 7.76% from the stock’s previous close.

A number of other brokerages have also weighed in on GL. TD Cowen lifted their price objective on Globe Life from $199.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Weiss Ratings raised Globe Life from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 13th. Texas Capital upgraded Globe Life to a “strong-buy” rating in a research note on Wednesday, March 18th. Truist Financial upped their price objective on Globe Life from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Finally, Morgan Stanley increased their price objective on Globe Life from $181.00 to $208.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $179.70.

Globe Life Stock Up 0.1%

Shares of Globe Life stock opened at $179.10 on Thursday. Globe Life has a one year low of $117.30 and a one year high of $182.32. The company has a market cap of $13.91 billion, a P/E ratio of 12.39 and a beta of 0.47. 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 firm has a fifty day moving average of $163.71 and a two-hundred day moving average of $150.19.

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

Insiders Place Their Bets

In related news, CEO Frank M. Svoboda sold 10,000 shares of Globe Life stock in a transaction on Friday, June 12th. The stock was sold at an average price of $166.68, for a total transaction of $1,666,800.00. Following the completion of the transaction, the chief executive officer directly owned 54,020 shares of the company’s stock, valued at approximately $9,004,053.60. The trade was a 15.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO James Matthew Darden sold 4,663 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $153.88, for a total value of $717,542.44. Following the sale, the chief executive officer owned 58,451 shares in the company, valued at approximately $8,994,439.88. The trade was a 7.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 124,187 shares of company stock worth $19,529,414. 2.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Globe Life by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 10,090,885 shares of the company’s stock worth $1,411,311,000 after buying an additional 86,349 shares in the last quarter. Invesco Ltd. increased its holdings in Globe Life by 2.7% during the 4th quarter. Invesco Ltd. now owns 3,948,676 shares of the company’s stock valued at $552,262,000 after acquiring an additional 102,445 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Globe Life by 10.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,353,192 shares of the company’s stock worth $327,479,000 after acquiring an additional 217,331 shares during the last quarter. Morgan Stanley raised its position in Globe Life by 7.2% during the fourth quarter. Morgan Stanley now owns 1,860,257 shares of the company’s stock worth $260,176,000 after acquiring an additional 125,567 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Globe Life by 32.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,435,247 shares of the company’s stock valued at $200,734,000 after purchasing an additional 355,399 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Company Profile

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.