Globe Life (NYSE:GL) Price Target Raised to $145.00 at JPMorgan Chase & Co.

Globe Life (NYSE:GL) had its price objective upped by investment analysts at JPMorgan Chase & Co. from $136.00 to $145.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 9.92% from the stock’s previous close.

GL has been the topic of a number of other research reports. Morgan Stanley increased their price objective on Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. BMO Capital Markets began coverage on shares of Globe Life in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target on the stock. Jefferies Financial Group upped their target price on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Finally, Wells Fargo & Company upped their price objective on shares of Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $136.45.

Globe Life Price Performance

GL opened at $131.91 on Wednesday. The stock has a fifty day moving average price of $124.49 and a 200 day moving average price of $114.41. 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 1 year low of $38.95 and a 1 year high of $133.31. The stock has a market cap of $10.98 billion, a price-to-earnings ratio of 10.99 and a beta of 0.77.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. Analysts forecast that Globe Life will post 13.87 EPS for the current fiscal year.

Insider Activity

In related news, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction 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 $579,964.06. This trade represents a 36.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James Matthew Darden sold 24,890 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the sale, the chief executive officer now directly owns 38,973 shares of the company’s stock, valued at approximately $4,735,998.96. The trade was a 38.97 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,338 shares of company stock worth $7,239,630. Company insiders own 1.51% of the company’s stock.

Institutional Investors Weigh In On Globe Life

A number of large investors have recently bought and sold shares of the business. 111 Capital acquired a new stake in shares of Globe Life in the fourth quarter valued at $242,000. Wealth Enhancement Advisory Services LLC grew its holdings in Globe Life by 5.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 20,938 shares of the company’s stock worth $2,335,000 after acquiring an additional 1,159 shares during the last quarter. Campbell Deegan Wealth Management LLC acquired a new stake in Globe Life in the 4th quarter valued at about $246,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Globe Life in the fourth quarter worth about $8,384,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Globe Life during the fourth quarter worth approximately $5,089,000. 81.61% of the stock is currently owned by institutional investors.

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.