Piper Sandler Raises Globe Life (NYSE:GL) Price Target to $152.00

Globe Life (NYSE:GL) had its target price upped by equities researchers at Piper Sandler from $140.00 to $152.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price indicates a potential upside of 19.37% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Evercore ISI upgraded 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 research report on Wednesday, January 8th. Keefe, Bruyette & Woods boosted their price objective on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Morgan Stanley raised their target price on shares of Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Jefferies Financial Group boosted their price target on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company raised their price objective on shares of Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $138.45.

Globe Life Stock Down 4.3 %

Shares of NYSE GL opened at $127.33 on Wednesday. Globe Life has a 12-month low of $38.95 and a 12-month high of $133.76. The firm’s 50-day simple moving average is $124.93 and its 200 day simple moving average is $114.63. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The company has a market cap of $10.60 billion, a price-to-earnings ratio of 10.66 and a beta of 0.77.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, beating 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%. On average, research analysts expect that Globe Life will post 13.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the firm’s 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 directly owns 5,122 shares in the company, valued at approximately $579,964.06. This trade represents a 36.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Frank M. Svoboda sold 13,448 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the sale, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at $2,132,786.88. This represents a 41.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,338 shares of company stock valued at $7,239,630. 1.51% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Wellington Management Group LLP boosted its position in Globe Life by 6.8% during the 4th quarter. Wellington Management Group LLP now owns 5,117,122 shares of the company’s stock worth $570,661,000 after acquiring an additional 326,307 shares during the last quarter. Invesco Ltd. boosted its holdings in Globe Life by 6.0% during the fourth quarter. Invesco Ltd. now owns 3,932,637 shares of the company’s stock worth $438,568,000 after purchasing an additional 223,282 shares during the last quarter. State Street Corp grew its position in Globe Life by 3.4% in the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after purchasing an additional 115,432 shares in the last quarter. Geode Capital Management LLC increased its stake in Globe Life by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock valued at $276,994,000 after buying an additional 89,299 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Globe Life by 8.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,592,734 shares of the company’s stock worth $177,615,000 after buying an additional 118,054 shares in the last quarter. 81.61% of the stock is currently 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.