Morgan Stanley Raises Globe Life (NYSE:GL) Price Target to $120.00

Globe Life (NYSE:GL) had its price objective raised by investment analysts at Morgan Stanley from $110.00 to $120.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 6.51% from the company’s previous close.

A number of other research firms have also recently weighed in on GL. Raymond James raised their price objective on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 15th. Jefferies Financial Group raised their price objective on shares of Globe Life from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, June 28th. Evercore ISI raised their target price on shares of Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a research report on Wednesday, June 26th. Wells Fargo & Company raised their target price on shares of Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Piper Sandler raised their target price on shares of Globe Life from $106.00 to $118.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Globe Life currently has an average rating of “Moderate Buy” and an average price target of $121.10.

Globe Life Stock Up 1.6 %

NYSE:GL traded up $1.81 during mid-day trading on Thursday, hitting $112.67. The stock had a trading volume of 425,198 shares, compared to its average volume of 1,595,564. The stock has a 50-day simple moving average of $104.94 and a two-hundred day simple moving average of $90.77. The company has a market capitalization of $10.15 billion, a PE ratio of 10.77 and a beta of 0.81. Globe Life has a twelve month low of $38.95 and a twelve 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 0.31.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the company earned $2.61 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities research analysts anticipate that Globe Life will post 11.93 EPS for the current year.

Insider Activity at Globe Life

In other Globe Life news, Director Mary E. Thigpen bought 3,000 shares of Globe Life stock in a transaction on Friday, July 26th. The stock was bought at an average price of $90.20 per share, with a total value of $270,600.00. Following the completion of the acquisition, the director now owns 15,605 shares in the company, valued at $1,407,571. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.51% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Globe Life

A number of hedge funds and other institutional investors have recently bought and sold shares of GL. Riverview Trust Co acquired a new stake in Globe Life in the third quarter valued at $32,000. Keener Financial Planning LLC acquired a new stake in Globe Life in the first quarter valued at $49,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Globe Life by 88.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after buying an additional 281 shares during the last quarter. LRI Investments LLC raised its stake in shares of Globe Life by 898.4% during the 2nd quarter. LRI Investments LLC now owns 619 shares of the company’s stock worth $51,000 after buying an additional 557 shares during the last quarter. Finally, Family Firm Inc. acquired a new position in shares of Globe Life during the 2nd quarter worth $54,000. 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.