Globe Life (NYSE:GL) Given New $137.00 Price Target at Keefe, Bruyette & Woods

Globe Life (NYSE:GL) had its price target hoisted by equities research analysts at Keefe, Bruyette & Woods from $135.00 to $137.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 22.41% from the company’s previous close.

Several other equities research analysts also recently issued reports on the stock. Truist Financial raised their price objective on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Morgan Stanley lifted their price target on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Jefferies Financial Group lifted their price objective on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. TD Cowen started coverage on Globe Life in a research report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective for the company. Finally, Piper Sandler lifted their price objective on Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $134.00.

Globe Life Trading Down 1.9 %

GL stock traded down $2.20 during mid-day trading on Friday, reaching $111.92. 106,476 shares of the stock traded hands, compared to its average volume of 582,047. The stock’s fifty day moving average is $108.89 and its 200-day moving average is $101.76. 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 company has a market cap of $9.40 billion, a P/E ratio of 9.47 and a beta of 0.80. Globe Life has a 52-week low of $38.95 and a 52-week high of $132.00.

Globe Life (NYSE:GL) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the company posted $2.71 earnings per share. The firm’s revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts expect that Globe Life will post 12.31 earnings per share for the current year.

Insider Activity

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $108.80, for a total value of $1,560,192.00. Following the transaction, the chief executive officer now owns 16,396 shares of the company’s stock, valued at approximately $1,783,884.80. The trade was a 46.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $112.91, for a total value of $1,016,190.00. Following the completion of the transaction, the chief marketing officer now directly owns 13,485 shares in the company, valued at approximately $1,522,591.35. This represents a 40.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,788 shares of company stock worth $4,429,779 over the last quarter. 1.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Globe Life

Institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc increased its holdings in shares of Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after purchasing an additional 194 shares in the last quarter. Riverview Trust Co bought a new stake in Globe Life during the third quarter worth approximately $32,000. True Wealth Design LLC bought a new stake in Globe Life during the third quarter worth approximately $59,000. Benjamin F. Edwards & Company Inc. increased its stake in Globe Life by 88.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after acquiring an additional 281 shares during the last quarter. Finally, Private Trust Co. NA increased its stake in Globe Life by 67.5% during the third quarter. Private Trust Co. NA now owns 670 shares of the company’s stock worth $71,000 after acquiring an additional 270 shares during the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

About Globe Life

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.