Globe Life (NYSE:GL - Get Free Report) had its price target upped by equities research analysts at JPMorgan Chase & Co. from $136.00 to $145.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 28.11% from the stock's previous close.
Several other brokerages also recently commented on GL. Keefe, Bruyette & Woods boosted their price objective on shares of Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Wells Fargo & Company upped their price objective on Globe Life from $126.00 to $141.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Jefferies Financial Group lifted their target price on Globe Life from $107.00 to $114.00 and gave the company a "hold" rating in a research report on Tuesday, December 10th. Evercore ISI raised shares of Globe Life from an "in-line" rating to an "outperform" rating and increased their target price for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Finally, BMO Capital Markets assumed coverage on shares of Globe Life in a report on Thursday, January 23rd. They set a "market perform" rating and a $114.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $138.45.
Check Out Our Latest Report on Globe Life
Globe Life Price Performance
NYSE GL traded down $4.04 during midday trading on Wednesday, hitting $113.19. The company had a trading volume of 524,196 shares, compared to its average volume of 1,412,769. The firm has a 50-day moving average price of $124.89 and a 200-day moving average price of $114.82. The company has a market capitalization of $9.42 billion, a PE ratio of 9.48 and a beta of 0.60. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life has a twelve month low of $38.95 and a twelve month high of $133.76.
Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, topping 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%. As a group, analysts anticipate that Globe Life will post 13.87 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CEO Frank M. Svoboda sold 11,000 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $122.31, for a total transaction 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 $2,317,529.88. This trade represents a 36.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Matthew Darden sold 24,890 shares of the company's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total value of $3,024,632.80. Following the completion of the sale, the chief executive officer now owns 38,973 shares in the company, valued at $4,735,998.96. The trade was a 38.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Globe Life
Several large investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of Globe Life in the 4th quarter worth about $61,238,000. State Street Corp increased its holdings in Globe Life by 3.4% in the third quarter. State Street Corp now owns 3,545,272 shares of the company's stock worth $375,480,000 after purchasing an additional 115,432 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Globe Life by 9.0% in the third quarter. Principal Financial Group Inc. now owns 105,315 shares of the company's stock valued at $11,154,000 after buying an additional 8,663 shares during the period. Merit Financial Group LLC acquired a new position in Globe Life in the fourth quarter valued at approximately $487,000. Finally, Prudential Financial Inc. boosted its holdings in shares of Globe Life by 50.0% during the 4th quarter. Prudential Financial Inc. now owns 82,749 shares of the company's stock worth $9,069,000 after buying an additional 27,590 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.
About Globe Life
(
Get Free Report)
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.
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