Globe Life (NYSE:GL) Price Target Raised to $125.00

Globe Life (NYSE:GL) had its price objective hoisted by Morgan Stanley from $123.00 to $125.00 in a report released on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

GL has been the subject of several other reports. Jefferies Financial Group raised their price target on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and raised their price target for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. Keefe, Bruyette & Woods raised their price target on Globe Life from $135.00 to $137.00 and gave the company an “outperform” rating in a report on Friday, January 10th. BMO Capital Markets initiated coverage on Globe Life in a report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price target for the company. Finally, Raymond James raised their price target on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and a consensus price target of $133.10.

Globe Life Price Performance

GL opened at $123.58 on Tuesday. The stock has a fifty day simple moving average of $114.32 and a two-hundred day simple moving average of $107.77. 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 $10.37 billion, a price-to-earnings ratio of 10.34 and a beta of 0.81. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. Research analysts predict that Globe Life will post 13.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Globe Life news, CEO Frank M. Svoboda sold 14,340 shares of the firm’s stock in a transaction dated 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 directly owns 16,396 shares of the company’s stock, valued at approximately $1,783,884.80. This trade represents a 46.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James Matthew Darden sold 24,890 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 38,973 shares in the company, 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. In the last ninety days, insiders sold 64,678 shares of company stock worth $7,454,412. 1.51% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co boosted its position in Globe Life by 3.7% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 48,608 shares of the company’s stock worth $5,414,000 after purchasing an additional 1,731 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Globe Life by 23.1% in the fourth quarter. Canada Pension Plan Investment Board now owns 138,600 shares of the company’s stock worth $15,457,000 after purchasing an additional 26,000 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Globe Life by 1,702.5% during the 4th quarter. Marshall Wace LLP now owns 484,692 shares of the company’s stock valued at $54,053,000 after buying an additional 457,802 shares in the last quarter. United Capital Financial Advisors LLC lifted its position in shares of Globe Life by 4.8% during the 4th quarter. United Capital Financial Advisors LLC now owns 4,044 shares of the company’s stock valued at $451,000 after buying an additional 186 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Globe Life during the 4th quarter valued at about $4,336,000. 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.