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

Globe Life (NYSE:GL) had its price target raised by stock analysts at Keefe, Bruyette & Woods from $135.00 to $137.00 in a report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 21.77% from the company’s current price.

Several other brokerages have also commented on GL. Wells Fargo & Company upped their price objective on shares of Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Raymond James increased their price target on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 15th. TD Cowen assumed coverage on shares of Globe Life in a report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective for the company. Morgan Stanley upped their target price on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Finally, Truist Financial raised their target price on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.00.

Globe Life Stock Down 1.4 %

Shares of NYSE:GL opened at $112.51 on Friday. The stock’s 50-day moving average is $109.06 and its 200 day moving average is $102.09. The company has a market cap of $9.44 billion, a PE ratio of 9.52 and a beta of 0.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life has a 1 year low of $38.95 and a 1 year 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 (EPS) for the quarter, beating the consensus estimate of $3.06 by $0.43. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.71 earnings per share. Sell-side analysts anticipate that Globe Life will post 12.31 EPS for the current year.

Insider Activity at Globe Life

In other news, CMO Jennifer Allison Haworth sold 9,000 shares of the company’s 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 transaction, the chief marketing officer now owns 13,485 shares in the company, valued at approximately $1,522,591.35. This represents a 40.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mark A. Blinn sold 3,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were 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. The trade was a 36.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,788 shares of company stock valued at $4,429,779 in the last 90 days. Corporate insiders own 1.51% of the company’s stock.

Hedge Funds Weigh In On Globe Life

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. D. E. Shaw & Co. Inc. boosted its holdings in shares of Globe Life by 398.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company’s stock valued at $88,420,000 after acquiring an additional 859,146 shares during the last quarter. Millennium Management LLC lifted its position in Globe Life by 177.0% during the second quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock valued at $105,303,000 after purchasing an additional 817,760 shares during the period. Nuance Investments LLC boosted its holdings in Globe Life by 155.6% in the third quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock worth $120,629,000 after purchasing an additional 693,346 shares during the last quarter. International Assets Investment Management LLC grew its position in Globe Life by 15,398.7% in the 3rd quarter. International Assets Investment Management LLC now owns 336,631 shares of the company’s stock worth $356,530,000 after purchasing an additional 334,459 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Globe Life by 22.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock valued at $160,949,000 after buying an additional 277,108 shares during the last quarter. 81.61% of the stock is owned by 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.