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

Globe Life (NYSE:GL) had its price target raised by analysts at JPMorgan Chase & Co. from $136.00 to $145.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 9.92% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. BMO Capital Markets began coverage on shares of Globe Life in a report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price target for the company. Wells Fargo & Company boosted their target price on shares of Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Jefferies Financial Group raised their price target 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. Keefe, Bruyette & Woods boosted their price objective on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley raised their target price on Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and a consensus target price of $136.45.

Globe Life Trading Up 0.1 %

Globe Life stock opened at $131.91 on Wednesday. Globe Life has a 1 year low of $38.95 and a 1 year high of $133.31. The firm’s 50-day moving average is $124.49 and its 200-day moving average is $114.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market cap of $10.98 billion, a P/E ratio of 10.99 and a beta of 0.77.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. On average, equities analysts expect that Globe Life will post 13.87 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Frank M. Svoboda sold 11,000 shares of Globe Life stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $122.31, for a total value of $1,345,410.00. Following the transaction, the chief executive officer now directly owns 18,948 shares in the company, valued at $2,317,529.88. The trade was a 36.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James Matthew Darden sold 24,890 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total value 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. This represents a 38.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,338 shares of company stock worth $7,239,630 in the last ninety days. 1.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Globe Life

A number of large investors have recently made changes to their positions in the company. Wellington Management Group LLP grew its position in Globe Life by 6.8% during the 4th quarter. Wellington Management Group LLP now owns 5,117,122 shares of the company’s stock worth $570,661,000 after purchasing an additional 326,307 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Globe Life by 6.0% during the fourth quarter. Invesco Ltd. now owns 3,932,637 shares of the company’s stock valued at $438,568,000 after buying an additional 223,282 shares in the last quarter. State Street Corp raised its position in Globe Life by 3.4% during the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after buying an additional 115,432 shares during the period. Geode Capital Management LLC lifted its stake in Globe Life by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock worth $276,994,000 after acquiring an additional 89,299 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Globe Life by 8.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,592,734 shares of the company’s stock valued at $177,615,000 after acquiring an additional 118,054 shares in the last quarter. Institutional investors and hedge funds 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.