Globe Life (NYSE:GL) PT Raised to $83.00

Globe Life (NYSE:GL) had its price objective hoisted by analysts at Morgan Stanley from $66.00 to $83.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential downside of 15.45% from the company’s current price.

GL has been the subject of several other research reports. Piper Sandler lifted their target price on Globe Life from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Jefferies Financial Group boosted their price objective on Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, June 28th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $118.00 price objective (up previously from $110.00) on shares of Globe Life in a research report on Wednesday, July 31st. Raymond James restated a “strong-buy” rating on shares of Globe Life in a research report on Tuesday, May 21st. Finally, Wells Fargo & Company boosted their price objective on Globe Life from $105.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Globe Life has a consensus rating of “Moderate Buy” and a consensus target price of $108.33.

Globe Life Stock Up 1.3 %

GL stock traded up $1.28 during midday trading on Monday, hitting $98.17. 216,410 shares of the company’s stock were exchanged, compared to its average volume of 1,835,845. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.32. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00. The firm has a 50 day moving average price of $86.46 and a 200-day moving average price of $96.00. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 9.37 and a beta of 0.80.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.07. Globe Life had a return on equity of 22.53% and a net margin of 18.47%. 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 business earned $2.61 EPS. Globe Life’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, analysts anticipate that Globe Life will post 11.92 EPS for the current year.

Insider Transactions at Globe Life

In related news, Director Mary E. Thigpen bought 3,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were bought at an average cost of $90.20 per share, with a total value of $270,600.00. Following the completion of the transaction, the director now directly owns 15,605 shares of the company’s stock, valued at $1,407,571. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Globe Life news, Director Mary E. Thigpen purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average cost of $90.20 per share, with a total value of $270,600.00. Following the completion of the transaction, the director now owns 15,605 shares of the company’s stock, valued at $1,407,571. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Edward Hensley purchased 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average cost of $82.17 per share, for a total transaction of $205,425.00. Following the completion of the transaction, the executive vice president now directly owns 7,290 shares of the company’s stock, valued at approximately $599,019.30. The disclosure for this purchase can be found here. Company insiders own 1.51% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Private Wealth Management Group LLC purchased a new position in Globe Life in the fourth quarter valued at about $27,000. Lindbrook Capital LLC grew its stake in Globe Life by 62.2% in the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after purchasing an additional 92 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Globe Life by 177.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock valued at $34,000 after purchasing an additional 177 shares in the last quarter. Keener Financial Planning LLC purchased a new position in Globe Life in the first quarter valued at about $49,000. Finally, Principal Securities Inc. purchased a new position in Globe Life in the fourth quarter valued at about $52,000. 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.