Globe Life (NYSE:GL) Price Target Raised to $141.00

Globe Life (NYSE:GL) had its target price raised by Wells Fargo & Company from $126.00 to $141.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

GL has been the topic of a number of other reports. Morgan Stanley upped their target price on Globe Life from $123.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Keefe, Bruyette & Woods boosted their price target on shares of Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. BMO Capital Markets started coverage on shares of Globe Life in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target on the stock. Finally, Piper Sandler increased their price objective on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Globe Life presently has an average rating of “Moderate Buy” and a consensus price target of $135.50.

Globe Life Stock Performance

Shares of GL opened at $122.52 on Wednesday. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00. The business’s fifty day moving average price is $116.53 and its 200 day moving average price is $109.07. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a market capitalization of $10.28 billion, a PE ratio of 10.25 and a beta of 0.81.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, topping the consensus estimate of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. Equities research analysts forecast that Globe Life will post 13.87 EPS for the current year.

Insiders Place Their Bets

In related news, CMO Jennifer Allison Haworth sold 9,000 shares of the stock in a transaction dated 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 completion of the sale, the chief marketing officer now owns 13,485 shares in the company, valued at approximately $1,522,591.35. This trade represents a 40.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frank M. Svoboda sold 14,340 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $108.80, for a total value of $1,560,192.00. Following the transaction, the chief executive officer now owns 16,396 shares in the company, valued at $1,783,884.80. This represents a 46.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,678 shares of company stock valued at $8,799,822 in the last three months. Company insiders own 1.51% of the company’s stock.

Institutional Investors Weigh In On Globe Life

Institutional investors have recently bought and sold shares of the business. Waverly Advisors LLC lifted its position in shares of Globe Life by 10.8% during the 4th quarter. Waverly Advisors LLC now owns 5,662 shares of the company’s stock worth $631,000 after buying an additional 554 shares during the period. Woodline Partners LP bought a new position in shares of Globe Life during the fourth quarter valued at $5,636,000. Virtus Fund Advisers LLC acquired a new stake in shares of Globe Life in the 4th quarter valued at $116,000. Virtus Investment Advisers Inc. acquired a new stake in shares of Globe Life in the 4th quarter valued at $1,358,000. Finally, WBI Investments LLC bought a new stake in shares of Globe Life in the 4th quarter worth about $2,100,000. Institutional investors and hedge funds 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.