Morgan Stanley Increases Globe Life (NYSE:GL) Price Target to $65.00

Globe Life (NYSE:GL) had its price objective boosted by investment analysts at Morgan Stanley from $62.00 to $65.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential downside of 23.74% from the company’s current price.

Other research analysts have also recently issued research reports about the company. StockNews.com cut Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Truist Financial cut their price objective on Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. Evercore ISI boosted their price objective on Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a research report on Wednesday, June 26th. Keefe, Bruyette & Woods raised Globe Life from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $130.00 to $110.00 in a research report on Wednesday, April 24th. Finally, Jefferies Financial Group upped their price target on Globe Life from $85.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, June 28th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $104.22.

Globe Life Trading Up 2.5 %

Shares of Globe Life stock opened at $85.23 on Wednesday. The stock has a fifty day simple moving average of $82.89 and a 200 day simple moving average of $101.95. Globe Life has a 12-month low of $38.95 and a 12-month high of $132.00. The company has a market capitalization of $7.67 billion, a P/E ratio of 8.14 and a beta of 0.81. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.32.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). Globe Life had a return on equity of 23.01% and a net margin of 18.07%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the company posted $2.53 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Globe Life will post 11.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Thomas Peter Kalmbach acquired 500 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were acquired at an average price of $84.43 per share, with a total value of $42,215.00. Following the acquisition, the chief financial officer now owns 18,080 shares of the company’s stock, valued at approximately $1,526,494.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Robert Edward Hensley acquired 2,500 shares of Globe Life stock in a transaction dated Tuesday, May 28th. The shares were purchased at an average cost of $82.17 per share, for a total transaction of $205,425.00. Following the transaction, the executive vice president now owns 7,290 shares of the company’s stock, valued at $599,019.30. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Thomas Peter Kalmbach bought 500 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were bought at an average price of $84.43 per share, with a total value of $42,215.00. Following the completion of the acquisition, the chief financial officer now directly owns 18,080 shares in the company, valued at $1,526,494.40. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 6,500 shares of company stock valued at $536,860. Corporate 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 the stock. Private Wealth Management Group LLC purchased a new stake in Globe Life in the 4th quarter worth approximately $27,000. Private Trust Co. NA boosted its position in shares of Globe Life by 270.0% during the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after purchasing an additional 162 shares in the last quarter. BKM Wealth Management LLC bought a new stake in shares of Globe Life during the fourth quarter valued at approximately $28,000. Lindbrook Capital LLC boosted its position in shares of Globe Life by 62.2% during the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after purchasing an additional 92 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of Globe Life by 177.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock valued at $34,000 after purchasing an additional 177 shares in the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

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.