Globe Life Inc. (NYSE:GL) Receives $134.14 Average Price Target from Analysts

Shares of Globe Life Inc. (NYSE:GLGet Free Report) have been given a consensus recommendation of “Moderate Buy” by the six analysts that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $134.14.

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Truist Financial boosted their price objective on Globe Life from $115.00 to $125.00 and gave the company a “hold” rating in a research note on Friday. Wells Fargo & Company upgraded Globe Life from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $122.00 to $137.00 in a research note on Tuesday, October 31st. Morgan Stanley boosted their price objective on Globe Life from $131.00 to $132.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 15th. Finally, StockNews.com upgraded Globe Life from a “hold” rating to a “buy” rating in a research note on Thursday, February 8th.

View Our Latest Analysis on GL

Globe Life Price Performance

GL opened at $126.33 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.06 and a current ratio of 0.06. The firm has a market cap of $11.89 billion, a P/E ratio of 12.53 and a beta of 0.70. Globe Life has a fifty-two week low of $102.23 and a fifty-two week high of $127.36. The firm has a 50-day moving average of $122.14 and a 200 day moving average of $116.60.

Globe Life (NYSE:GLGet Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $2.88 EPS for the quarter, topping the consensus estimate of $2.73 by $0.15. Globe Life had a net margin of 17.82% and a return on equity of 24.75%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the firm posted $2.24 earnings per share. The business’s revenue was up 6.0% compared to the same quarter last year. On average, research analysts expect that Globe Life will post 11.52 EPS for the current year.

Insider Buying and Selling

In related news, CMO Jennifer Allison Haworth sold 2,524 shares of Globe Life stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $121.37, for a total transaction of $306,337.88. Following the completion of the sale, the chief marketing officer now owns 8,606 shares of the company’s stock, valued at $1,044,510.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Globe Life news, CMO Jennifer Allison Haworth sold 2,524 shares of the business’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $121.37, for a total value of $306,337.88. Following the completion of the transaction, the chief marketing officer now directly owns 8,606 shares of the company’s stock, valued at $1,044,510.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jane Buchan sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $124.50, for a total value of $124,500.00. Following the completion of the transaction, the director now directly owns 80,285 shares of the company’s stock, valued at $9,995,482.50. The disclosure for this sale can be found here. Insiders sold 55,303 shares of company stock valued at $6,668,455 over the last quarter. 4.33% of the stock is currently owned by company insiders.

Institutional Trading of Globe Life

Several large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in Globe Life by 7.2% in the 1st quarter. JPMorgan Chase & Co. now owns 93,908 shares of the company’s stock valued at $9,448,000 after buying an additional 6,299 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Globe Life by 3.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 14,549 shares of the company’s stock valued at $1,464,000 after buying an additional 538 shares in the last quarter. American Century Companies Inc. grew its holdings in Globe Life by 26.8% in the 1st quarter. American Century Companies Inc. now owns 13,456 shares of the company’s stock valued at $1,354,000 after buying an additional 2,848 shares in the last quarter. Cetera Advisor Networks LLC grew its holdings in Globe Life by 3.0% in the 1st quarter. Cetera Advisor Networks LLC now owns 4,740 shares of the company’s stock valued at $477,000 after buying an additional 137 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in Globe Life by 23.9% in the 1st quarter. MetLife Investment Management LLC now owns 25,421 shares of the company’s stock valued at $2,557,000 after buying an additional 4,897 shares in the last quarter. 80.04% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Company Profile

(Get Free Report

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.

See Also

Analyst Recommendations for Globe Life (NYSE:GL)

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