Globe Life (NYSE:GL) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Globe Life (NYSE:GL) had its price objective upped by analysts at Keefe, Bruyette & Woods from $135.00 to $137.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 21.77% from the stock’s previous close.

GL has been the subject of several other research reports. Wells Fargo & Company lifted their target price on shares of Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Truist Financial boosted their target price on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a report on Friday, October 25th. Jefferies Financial Group raised their price target on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Piper Sandler boosted their price objective on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Morgan Stanley raised their target price on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $134.00.

Globe Life Stock Performance

NYSE GL opened at $112.51 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market capitalization of $9.44 billion, a PE ratio of 9.52 and a beta of 0.80. Globe Life has a 52-week low of $38.95 and a 52-week high of $132.00. The company has a 50-day simple moving average of $109.06 and a 200 day simple moving average of $102.09.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business posted $2.71 EPS. Globe Life’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, research analysts predict that Globe Life will post 12.31 EPS for the current year.

Insider Activity

In other news, Director Mark A. Blinn sold 3,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $113.23, for a total transaction of $339,690.00. Following the transaction, the director now directly owns 5,122 shares in the company, valued at approximately $579,964.06. This represents a 36.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Frank M. Svoboda sold 13,448 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $112.56, for a total value of $1,513,706.88. Following the completion of the sale, the chief executive officer now owns 18,948 shares of the company’s stock, valued at $2,132,786.88. The trade was a 41.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,788 shares of company stock worth $4,429,779. 1.51% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. UMB Bank n.a. lifted its stake in shares of Globe Life by 7.7% in the 3rd quarter. UMB Bank n.a. now owns 1,357 shares of the company’s stock valued at $144,000 after acquiring an additional 97 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Globe Life by 4.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company’s stock worth $373,000 after purchasing an additional 136 shares during the period. Fiduciary Trust Co lifted its position in Globe Life by 2.3% in the third quarter. Fiduciary Trust Co now owns 6,329 shares of the company’s stock valued at $670,000 after purchasing an additional 144 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Globe Life by 0.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,923 shares of the company’s stock valued at $2,110,000 after purchasing an additional 144 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in shares of Globe Life by 4.8% during the third quarter. Farther Finance Advisors LLC now owns 3,607 shares of the company’s stock valued at $382,000 after purchasing an additional 166 shares during the period. 81.61% of the stock is currently owned by 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.