Globe Life (NYSE:GL) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Globe Life (NYSE:GL) had its target price increased by equities research analysts at Morgan Stanley from $123.00 to $125.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 2.29% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Globe Life from $135.00 to $137.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Truist Financial lifted 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. BMO Capital Markets assumed coverage on Globe Life in a research note on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price target on the stock. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. Finally, Raymond James increased their target price on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 15th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Globe Life has an average rating of “Moderate Buy” and an average price target of $132.30.

Globe Life Trading Down 0.0 %

Globe Life stock traded down $0.05 during midday trading on Tuesday, hitting $122.20. 105,707 shares of the stock were exchanged, compared to its average volume of 559,831. 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 stock’s 50-day simple moving average is $113.44 and its 200 day simple moving average is $107.35. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The stock has a market capitalization of $10.26 billion, a price-to-earnings ratio of 10.22 and a beta of 0.81.

Globe Life (NYSE:GL) last announced its quarterly earnings results 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 net margin of 18.53% and a return on equity of 22.32%. On average, equities analysts anticipate that Globe Life will post 13.57 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Frank M. Svoboda sold 13,448 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 18,948 shares in the company, valued at approximately $2,132,786.88. The trade was a 41.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark A. Blinn sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the completion of the transaction, the director now directly owns 5,122 shares in the company, valued at approximately $579,964.06. The trade was a 36.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,788 shares of company stock valued at $4,429,779 over the last quarter. Company insiders own 1.51% of the company’s stock.

Institutional Investors Weigh In On Globe Life

Several institutional investors have recently bought and sold shares of GL. Versant Capital Management Inc grew its stake 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 during the last quarter. Albion Financial Group UT acquired a new position in Globe Life in the fourth quarter worth approximately $28,000. Rakuten Securities Inc. bought a new position in shares of Globe Life in the fourth quarter valued at $28,000. Riverview Trust Co bought a new stake in shares of Globe Life during the 3rd quarter worth $32,000. Finally, Avalon Trust Co acquired a new position in shares of Globe Life in the 4th quarter worth $41,000. Institutional investors and hedge funds 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.