Globe Life (NYSE:GL) PT Raised to $188.00

Globe Life (NYSE:GL) had its target price upped by equities researchers at Raymond James from $160.00 to $188.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “strong-buy” rating on the stock. Raymond James’ price objective suggests a potential upside of 69.57% from the stock’s previous close.

A number of other research analysts also recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $118.00 price objective (up from $110.00) on shares of Globe Life in a research note on Wednesday, July 31st. Piper Sandler lifted their target price on Globe Life from $106.00 to $118.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Truist Financial boosted their price target on shares of Globe Life from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Finally, Evercore ISI increased their target price on Globe Life from $83.00 to $86.00 and gave the company an “in-line” rating in a research report on Wednesday, June 26th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $117.40.

Globe Life Price Performance

Shares of GL stock opened at $110.87 on Tuesday. The firm has a market cap of $9.98 billion, a P/E ratio of 10.59 and a beta of 0.81. The business’s 50 day moving average price is $103.16 and its 200-day moving average price is $90.81. Globe Life has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.07. Globe Life had a net margin of 18.47% and a return on equity of 21.93%. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the business earned $2.61 EPS. Globe Life’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts anticipate that Globe Life will post 11.93 earnings per share for the current year.

Insider Buying and Selling at Globe Life

In other news, Director Mary E. Thigpen acquired 3,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were bought at an average cost of $90.20 per share, with a total value of $270,600.00. Following the purchase, the director now owns 15,605 shares of the company’s stock, valued at $1,407,571. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.51% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GL. Keener Financial Planning LLC purchased a new stake in shares of Globe Life during the 1st quarter valued at about $49,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Globe Life by 88.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after purchasing an additional 281 shares in the last quarter. LRI Investments LLC lifted its position in Globe Life by 898.4% in the second quarter. LRI Investments LLC now owns 619 shares of the company’s stock worth $51,000 after purchasing an additional 557 shares during the period. Family Firm Inc. bought a new position in shares of Globe Life during the 2nd quarter valued at about $54,000. Finally, Blue Trust Inc. boosted its stake in shares of Globe Life by 249.5% during the 2nd quarter. Blue Trust Inc. now owns 776 shares of the company’s stock worth $64,000 after acquiring an additional 554 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

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.