Globe Life (NYSE:GL) Given New $125.00 Price Target at Truist Financial

Globe Life (NYSE:GLFree Report) had its price target hoisted by Truist Financial from $115.00 to $125.00 in a report issued on Friday, Benzinga reports. They currently have a hold rating on the stock.

GL has been the topic of several other research reports. Raymond James upped their price objective on Globe Life from $138.00 to $160.00 and gave the company a strong-buy rating in a research report on Monday, October 23rd. StockNews.com raised Globe Life from a hold rating to a buy rating in a research report on Thursday, February 8th. Morgan Stanley increased their price target on Globe Life from $131.00 to $132.00 and gave the stock an equal weight rating in a research report on Wednesday, November 15th. JPMorgan Chase & Co. increased their price target on Globe Life from $133.00 to $136.00 and gave the stock an overweight rating in a research report on Thursday, February 8th. Finally, Wells Fargo & Company raised Globe Life from an equal weight rating to an overweight rating and increased their price target for the stock from $122.00 to $137.00 in a research report on Tuesday, October 31st. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Globe Life presently has a consensus rating of Moderate Buy and a consensus price target of $134.14.

Read Our Latest Report on GL

Globe Life Stock Up 0.3 %

Shares of GL opened at $126.33 on Friday. The stock has a market capitalization of $11.89 billion, a price-to-earnings ratio of 12.53 and a beta of 0.70. Globe Life has a 1 year low of $102.23 and a 1 year high of $127.36. The business’s 50 day simple moving average is $122.14 and its 200-day simple moving average is $116.60. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.06 and a quick ratio of 0.06.

Globe Life (NYSE:GLGet Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.15. Globe Life had a return on equity of 24.75% and a net margin of 17.82%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the firm earned $2.24 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities analysts expect that Globe Life will post 11.52 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Dolores L. Skarjune sold 20,479 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $123.28, for a total transaction of $2,524,651.12. Following the completion of the sale, the executive vice president now directly owns 4,956 shares in the company, valued at $610,975.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Globe Life news, CMO Jennifer Allison Haworth sold 2,524 shares of the business’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $121.37, for a total transaction of $306,337.88. Following the transaction, the chief marketing officer now owns 8,606 shares of the company’s stock, valued at $1,044,510.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dolores L. Skarjune sold 20,479 shares of the business’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $123.28, for a total value of $2,524,651.12. Following the transaction, the executive vice president now directly owns 4,956 shares in the company, valued at approximately $610,975.68. The disclosure for this sale can be found here. Insiders sold 55,303 shares of company stock worth $6,668,455 over the last three months. 4.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Globe Life

Large investors have recently modified their holdings of the business. First Trust Direct Indexing L.P. lifted its stake in Globe Life by 7.0% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,985 shares of the company’s stock worth $325,000 after acquiring an additional 195 shares in the last quarter. Dean Investment Associates LLC lifted its stake in Globe Life by 0.3% during the 2nd quarter. Dean Investment Associates LLC now owns 35,125 shares of the company’s stock worth $3,850,000 after acquiring an additional 107 shares in the last quarter. IFM Investors Pty Ltd lifted its stake in Globe Life by 5.6% during the 2nd quarter. IFM Investors Pty Ltd now owns 18,112 shares of the company’s stock worth $1,985,000 after acquiring an additional 957 shares in the last quarter. Barclays PLC lifted its stake in Globe Life by 48.0% during the 3rd quarter. Barclays PLC now owns 254,116 shares of the company’s stock worth $27,632,000 after acquiring an additional 82,367 shares in the last quarter. Finally, Retirement Systems of Alabama acquired a new position in Globe Life during the 2nd quarter worth about $2,214,000. Institutional investors and hedge funds own 80.04% of the company’s stock.

About Globe Life

(Get Free Report)

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.

Read More

Analyst Recommendations for Globe Life (NYSE:GL)

Receive News & Ratings for Globe Life Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globe Life and related companies with MarketBeat.com's FREE daily email newsletter.