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

Globe Life (NYSE:GL) had its price target hoisted by equities research analysts at Morgan Stanley from $123.00 to $125.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 2.29% from the company’s previous close.

A number of other equities research analysts also recently issued reports on GL. Jefferies Financial Group increased their target price on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods increased their price objective on Globe Life from $135.00 to $137.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Piper Sandler boosted their target price on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Truist Financial raised their price target on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Finally, BMO Capital Markets started coverage on Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price objective on the stock. Five 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $132.30.

Globe Life Stock Down 0.0 %

Shares of Globe Life stock traded down $0.05 during midday trading on Tuesday, hitting $122.20. The company’s stock had a trading volume of 105,707 shares, compared to its average volume of 559,831. Globe Life has a 1-year low of $38.95 and a 1-year high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $10.26 billion, a P/E ratio of 10.22 and a beta of 0.81. The stock has a 50-day simple moving average of $113.44 and a 200-day simple moving average of $107.35.

Globe Life (NYSE:GL) last announced its quarterly earnings data 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 return on equity of 22.32% and a net margin of 18.53%. As a group, sell-side analysts expect that Globe Life will post 13.57 earnings per share for the current year.

Insider Activity

In related news, CEO Frank M. Svoboda sold 13,448 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the sale, the chief executive officer now owns 18,948 shares of the company’s stock, valued at approximately $2,132,786.88. This trade represents a 41.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, 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 sold a total of 39,788 shares of company stock valued at $4,429,779 in the last ninety days. 1.51% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. State Street Corp grew its holdings in shares of Globe Life by 3.4% during the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after buying an additional 115,432 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Globe Life by 3.5% in the third quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock valued at $276,994,000 after purchasing an additional 89,299 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Globe Life by 22.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock valued at $160,949,000 after purchasing an additional 277,108 shares in the last quarter. Nuance Investments LLC lifted its position in Globe Life by 155.6% during the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock worth $120,629,000 after buying an additional 693,346 shares in the last quarter. Finally, Pzena Investment Management LLC boosted its stake in shares of Globe Life by 8.4% during the 3rd quarter. Pzena Investment Management LLC now owns 1,008,732 shares of the company’s stock worth $106,835,000 after buying an additional 78,354 shares during the last quarter. 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.