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

Globe Life (NYSE:GL - Get Free Report) had its target price boosted by equities research analysts at Wells Fargo & Company from $126.00 to $141.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's target price indicates a potential upside of 15.08% from the company's current price.

Other analysts have also recently issued research reports about the company. Truist Financial lifted their price target on Globe Life from $90.00 to $105.00 and gave the company a "hold" rating in a report on Friday, October 25th. Evercore ISI upgraded Globe Life from an "in-line" rating to an "outperform" rating and lifted their price target for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. Jefferies Financial Group lifted their price objective on Globe Life from $107.00 to $114.00 and gave the company a "hold" rating in a research note on Tuesday, December 10th. Morgan Stanley lifted their price objective on Globe Life from $123.00 to $125.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 11th. Finally, BMO Capital Markets initiated coverage on Globe Life in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $114.00 price objective on the stock. Five research 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $135.50.

Globe Life Stock Performance

Shares of NYSE GL traded down $1.75 during mid-day trading on Wednesday, hitting $122.52. 583,145 shares of the company were exchanged, compared to its average volume of 577,370. 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 stock has a 50 day simple moving average of $116.19 and a 200-day simple moving average of $108.83. Globe Life has a 1-year low of $38.95 and a 1-year high of $132.00. The firm has a market cap of $10.28 billion, a price-to-earnings ratio of 10.25 and a beta of 0.81.

Globe Life (NYSE:GL - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, beating analysts' consensus estimates of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. On average, sell-side analysts forecast that Globe Life will post 13.87 EPS for the current fiscal year.

Insider Buying and Selling

In other Globe Life news, CMO Jennifer Allison Haworth sold 9,000 shares of the company's stock in a transaction that occurred on Monday, January 6th. The stock was 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 directly owns 13,485 shares of the company's stock, valued at $1,522,591.35. This represents a 40.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Frank M. Svoboda sold 11,000 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $122.31, for a total value of $1,345,410.00. Following the completion of the transaction, the chief executive officer now directly owns 18,948 shares in the company, valued at approximately $2,317,529.88. The trade was a 36.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,678 shares of company stock valued at $8,799,822. Corporate insiders own 1.51% of the company's stock.

Hedge Funds Weigh In On Globe Life

Institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc raised its position in shares of Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company's stock valued at $27,000 after purchasing an additional 194 shares in the last quarter. Rakuten Securities Inc. acquired a new position in shares of Globe Life in the 4th quarter valued at approximately $28,000. Albion Financial Group UT acquired a new position in shares of Globe Life in the 4th quarter valued at approximately $28,000. Avalon Trust Co acquired a new position in shares of Globe Life in the 4th quarter valued at approximately $41,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock valued at $41,000 after purchasing an additional 90 shares in the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

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.