Globe Life (NYSE:GL) PT Raised to $108.00

Globe Life (NYSE:GL) had its target price lifted by equities researchers at Wells Fargo & Company from $105.00 to $108.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 21.27% from the company’s previous close.

GL has been the subject of several other reports. Keefe, Bruyette & Woods raised shares of Globe Life from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $130.00 to $110.00 in a report on Wednesday, April 24th. Truist Financial cut their price target on Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, April 24th. Morgan Stanley lifted their price target on Globe Life from $62.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 10th. Raymond James reissued a “strong-buy” rating on shares of Globe Life in a report on Tuesday, May 21st. Finally, Evercore ISI lifted their target price on Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a report on Wednesday, June 26th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $104.22.

Globe Life Stock Performance

Shares of GL opened at $89.06 on Friday. Globe Life has a 1 year low of $38.95 and a 1 year high of $132.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.05 and a quick ratio of 0.05. The stock’s fifty day moving average price is $83.50 and its two-hundred day moving average price is $99.62. The firm has a market cap of $8.02 billion, a PE ratio of 8.51 and a beta of 0.81.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Globe Life had a return on equity of 22.53% and a net margin of 18.47%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.61 EPS. On average, equities research analysts forecast that Globe Life will post 11.75 EPS for the current year.

Insider Buying and Selling at Globe Life

In related news, CEO James Matthew Darden purchased 2,000 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were purchased at an average price of $84.82 per share, with a total value of $169,640.00. Following the acquisition, the chief executive officer now directly owns 37,973 shares of the company’s stock, valued at $3,220,869.86. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Thomas Peter Kalmbach acquired 500 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were bought at an average cost of $84.43 per share, with a total value of $42,215.00. Following the acquisition, the chief financial officer now owns 18,080 shares in the company, valued at approximately $1,526,494.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Matthew Darden acquired 2,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was acquired at an average cost of $84.82 per share, with a total value of $169,640.00. Following the purchase, the chief executive officer now directly owns 37,973 shares in the company, valued at approximately $3,220,869.86. The disclosure for this purchase can be found here. Insiders purchased a total of 5,000 shares of company stock worth $417,280 over the last three months. 1.51% of the stock is owned by insiders.

Hedge Funds Weigh In On Globe Life

Hedge funds have recently made changes to their positions in the business. Lindbrook Capital LLC increased its position in Globe Life by 62.2% during the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after purchasing an additional 92 shares during the period. Stonegate Investment Group LLC boosted its stake in Globe Life by 0.3% during the fourth quarter. Stonegate Investment Group LLC now owns 34,123 shares of the company’s stock worth $4,153,000 after acquiring an additional 116 shares in the last quarter. NBC Securities Inc. grew its holdings in Globe Life by 2.7% in the first quarter. NBC Securities Inc. now owns 5,803 shares of the company’s stock worth $675,000 after purchasing an additional 153 shares during the period. Private Trust Co. NA increased its stake in shares of Globe Life by 270.0% during the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after purchasing an additional 162 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in Globe Life by 0.5% during the first quarter. Commonwealth Equity Services LLC now owns 35,081 shares of the company’s stock valued at $4,082,000 after buying an additional 167 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

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.