Globe Life (NYSE:GL) Price Target Raised to $152.00

Globe Life (NYSE:GL - Get Free Report) had its price target boosted by equities researchers at Piper Sandler from $140.00 to $152.00 in a report released on Wednesday, Marketbeat reports. The firm presently has an "overweight" rating on the stock. Piper Sandler's price target indicates a potential upside of 34.29% from the company's current price.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group upped their price target on Globe Life from $107.00 to $114.00 and gave the stock a "hold" rating in a research note on Tuesday, December 10th. Morgan Stanley upped their target price on shares of Globe Life from $125.00 to $126.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Wells Fargo & Company raised their price target on shares of Globe Life from $126.00 to $141.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. BMO Capital Markets started coverage on Globe Life in a research report on Thursday, January 23rd. They set a "market perform" rating and a $114.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their target price on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Globe Life presently has an average rating of "Moderate Buy" and an average target price of $138.45.

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Globe Life Trading Down 3.4 %

NYSE GL traded down $4.03 on Wednesday, reaching $113.19. 524,196 shares of the company were exchanged, compared to its average volume of 1,412,769. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The business's fifty day moving average price is $124.89 and its 200 day moving average price is $114.82. The stock has a market capitalization of $9.42 billion, a P/E ratio of 9.48 and a beta of 0.60. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $133.76.

Globe Life (NYSE:GL - Get Free Report) last issued 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 return on equity of 22.32% and a net margin of 18.53%. Analysts forecast that Globe Life will post 13.87 earnings per share for the current year.

Insider Activity at Globe Life

In other news, CEO Frank M. Svoboda sold 11,000 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now directly owns 18,948 shares of the company's stock, valued at approximately $2,317,529.88. This represents a 36.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the chief executive officer now directly owns 38,973 shares of the company's stock, 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 owned by corporate insiders.

Hedge Funds Weigh In On Globe Life

Large investors have recently bought and sold shares of the company. Thrivent Financial for Lutherans raised its holdings in Globe Life by 4.0% during the third quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company's stock worth $373,000 after purchasing an additional 136 shares in the last quarter. Townsquare Capital LLC lifted its holdings in shares of Globe Life by 7.6% in the 3rd quarter. Townsquare Capital LLC now owns 3,598 shares of the company's stock valued at $381,000 after buying an additional 253 shares during the period. Glenmede Trust Co. NA lifted its holdings in shares of Globe Life by 7.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 6,428 shares of the company's stock valued at $681,000 after buying an additional 447 shares during the period. MetLife Investment Management LLC boosted its stake in shares of Globe Life by 3.5% in the third quarter. MetLife Investment Management LLC now owns 23,334 shares of the company's stock valued at $2,471,000 after buying an additional 785 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Globe Life by 12.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,098 shares of the company's stock worth $1,811,000 after acquiring an additional 1,919 shares during the period. Hedge funds and other institutional investors own 81.61% of the company's stock.

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.