Globe Life (NYSE:GL) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Globe Life (NYSE:GL) had its price objective lifted by stock analysts at Wells Fargo & Company from $126.00 to $141.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 13.49% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. Truist Financial boosted their price objective on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods boosted their price objective on shares of Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. BMO Capital Markets assumed coverage on shares of Globe Life in a research report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price objective for the company. Finally, Piper Sandler boosted their price objective on shares of Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $135.50.

Globe Life Trading Up 0.2 %

NYSE:GL opened at $124.24 on Wednesday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life has a 12 month low of $38.95 and a 12 month high of $132.00. The company has a market cap of $10.43 billion, a PE ratio of 10.40 and a beta of 0.81. The company has a 50 day simple moving average of $116.19 and a two-hundred day simple moving average of $108.83.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, February 5th. The company reported $3.14 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%. Research analysts forecast that Globe Life will post 13.86 earnings per share for the current year.

Insider Buying and Selling

In other Globe Life news, CEO James Matthew Darden sold 24,890 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total value of $3,024,632.80. Following the sale, the chief executive officer now owns 38,973 shares in the company, valued at $4,735,998.96. The trade was a 38.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $1,560,192.00. Following the completion of the sale, the chief executive officer now owns 16,396 shares in the company, valued at approximately $1,783,884.80. The trade was a 46.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,678 shares of company stock valued at $8,799,822. Company insiders own 1.51% of the company’s stock.

Institutional Trading of Globe Life

Hedge funds have recently bought and sold shares of the stock. State Street Corp lifted its stake in Globe Life by 3.4% in the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after purchasing an additional 115,432 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Globe Life by 9.0% during the 3rd quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock valued at $11,154,000 after buying an additional 8,663 shares in the last quarter. Merit Financial Group LLC purchased a new stake in shares of Globe Life during the 4th quarter valued at about $487,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Globe Life by 85.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company’s stock valued at $2,095,000 after buying an additional 9,141 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Globe Life by 56.0% during the 4th quarter. Pacer Advisors Inc. now owns 10,199 shares of the company’s stock valued at $1,137,000 after buying an additional 3,662 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

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.