Wells Fargo & Company Issues Positive Forecast for Globe Life (NYSE:GL) Stock Price

Globe Life (NYSE:GL) had its target price boosted by Wells Fargo & Company from $126.00 to $141.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms have also commented on GL. Morgan Stanley lifted their price objective on Globe Life from $123.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. BMO Capital Markets began coverage on Globe Life in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price objective on the stock. Jefferies Financial Group lifted their price objective on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Piper Sandler lifted their target price on Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $135.50.

Globe Life Trading Up 0.1 %

Globe Life stock opened at $124.00 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The company has a market capitalization of $10.41 billion, a price-to-earnings ratio of 10.38 and a beta of 0.81. Globe Life has a one year low of $38.95 and a one year high of $132.00. The company’s fifty day moving average price is $115.80 and its two-hundred day moving average price is $108.73.

Globe Life (NYSE:GL) last posted 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%. On average, analysts forecast that Globe Life will post 13.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO James Matthew Darden sold 24,890 shares of Globe Life 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,678 shares of company stock valued at $8,799,822. 1.51% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Versant Capital Management Inc raised its position in Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after purchasing an additional 194 shares during the last quarter. Rakuten Securities Inc. bought a new position in Globe Life in the 4th quarter worth approximately $28,000. Albion Financial Group UT bought a new position in Globe Life in the 4th quarter worth approximately $28,000. Avalon Trust Co bought a new position in Globe Life in the 4th quarter worth approximately $41,000. Finally, EverSource Wealth Advisors LLC raised its position in Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $41,000 after purchasing an additional 90 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

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.