Globe Life (NYSE:GL) Price Target Raised to $126.00

Globe Life (NYSE:GL - Get Free Report) had its target price lifted by research analysts at Morgan Stanley from $125.00 to $126.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price target would indicate a potential upside of 1.47% from the stock's previous close.

Several other research firms have also issued reports on GL. 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 research note on Wednesday, January 8th. BMO Capital Markets started coverage on Globe Life in a research note on Thursday, January 23rd. They set a "market perform" rating and a $114.00 price objective for the company. Jefferies Financial Group lifted their target price 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. Keefe, Bruyette & Woods increased their target price 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. Finally, Wells Fargo & Company upped 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 investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Globe Life currently has an average rating of "Moderate Buy" and a consensus target price of $135.60.

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Globe Life Stock Performance

GL traded down $4.41 on Friday, reaching $124.18. 929,764 shares of the stock were exchanged, compared to its average volume of 610,529. The company's 50-day moving average price is $118.66 and its 200 day moving average price is $110.69. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market capitalization of $10.41 billion, a PE ratio of 10.39 and a beta of 0.81. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $131.39.

Globe Life (NYSE:GL - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) 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, sell-side analysts forecast that Globe Life will post 13.87 EPS for the current fiscal year.

Insider Activity

In other news, CEO James Matthew Darden sold 24,890 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was 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 directly owns 38,973 shares of the company's stock, valued at approximately $4,735,998.96. This represents a 38.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 owns 18,948 shares of the company's stock, valued at approximately $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 sold 61,338 shares of company stock worth $7,239,630. 1.51% of the stock is currently owned by company insiders.

Institutional Trading of Globe Life

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc increased its stake in 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 buying an additional 194 shares during the period. Albion Financial Group UT acquired a new stake in Globe Life in the 4th quarter valued at about $28,000. Rakuten Securities Inc. purchased a new position in Globe Life during the 4th quarter valued at about $28,000. Avalon Trust Co acquired a new position in Globe Life during the fourth quarter worth about $41,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Globe Life by 32.7% in the fourth 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 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.