Globe Life (NYSE:GL - Get Free Report) had its target price boosted by investment analysts at Morgan Stanley from $110.00 to $120.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's price objective would suggest a potential upside of 9.70% from the company's previous close.
GL has been the subject of a number of other reports. Truist Financial increased their target price on shares of Globe Life from $80.00 to $90.00 and gave the company a "hold" rating in a research report on Friday, July 26th. Piper Sandler increased their price objective on Globe Life from $106.00 to $118.00 and gave the company an "overweight" rating in a report on Wednesday, October 2nd. Wells Fargo & Company boosted their target price on Globe Life from $108.00 to $117.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Raymond James upped their price target on Globe Life from $160.00 to $188.00 and gave the company a "strong-buy" rating in a research report on Tuesday, October 15th. Finally, Evercore ISI lifted their price objective on Globe Life from $83.00 to $86.00 and gave the stock an "in-line" rating in a report on Wednesday, June 26th. Five 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, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $121.10.
Get Our Latest Analysis on Globe Life
Globe Life Stock Performance
GL stock traded down $1.47 during midday trading on Thursday, hitting $109.39. The company's stock had a trading volume of 1,240,694 shares, compared to its average volume of 1,599,529. The stock has a market cap of $9.85 billion, a price-to-earnings ratio of 10.77 and a beta of 0.81. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.31. The stock's 50-day moving average price is $104.94 and its 200 day moving average price is $90.77. Globe Life has a 1 year low of $38.95 and a 1 year high of $132.00.
Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share for the quarter, topping analysts' consensus estimates of $2.90 by $0.07. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the firm earned $2.61 EPS. The firm's quarterly revenue was up 8.6% on a year-over-year basis. On average, equities analysts forecast that Globe Life will post 11.93 EPS for the current year.
Insider Transactions at Globe Life
In other news, Director Mary E. Thigpen acquired 3,000 shares of Globe Life stock in a transaction that occurred on Friday, July 26th. The stock was bought at an average price of $90.20 per share, with a total value of $270,600.00. Following the completion of the purchase, the director now owns 15,605 shares in the company, valued at approximately $1,407,571. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 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. Riverview Trust Co bought a new stake in shares of Globe Life during the 3rd quarter valued at about $32,000. Keener Financial Planning LLC purchased a new position in Globe Life in the 1st quarter worth approximately $49,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Globe Life by 88.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company's stock worth $50,000 after buying an additional 281 shares during the last quarter. LRI Investments LLC purchased a new stake in shares of Globe Life during the 1st quarter valued at $72,000. Finally, Family Firm Inc. bought a new stake in shares of Globe Life during the 2nd quarter worth $54,000. 81.61% of the stock is currently owned by hedge funds and other institutional investors.
Globe Life Company Profile
(
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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