Morgan Stanley Increases Globe Life (NYSE:GL) Price Target to $171.00

Globe Life (NYSE:GL) had its price objective hoisted by stock analysts at Morgan Stanley from $166.00 to $171.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 26.24% from the stock’s previous close.

GL has been the topic of a number of other research reports. BMO Capital Markets reaffirmed a “market perform” rating and set a $149.00 target price (up previously from $114.00) on shares of Globe Life in a research note on Wednesday, July 30th. Truist Financial began coverage on shares of Globe Life in a research report on Tuesday, July 15th. They issued a “buy” rating and a $150.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on Globe Life from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Wall Street Zen raised shares of Globe Life from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Finally, Wells Fargo & Company boosted their price objective on Globe Life from $144.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Globe Life presently has a consensus rating of “Moderate Buy” and an average target price of $152.45.

Globe Life Trading Up 0.0%

GL stock traded up $0.03 during trading on Monday, hitting $135.46. 10,652 shares of the company traded hands, compared to its average volume of 656,311. The company has a 50-day moving average of $126.98 and a 200-day moving average of $124.34. The firm has a market capitalization of $10.97 billion, a PE ratio of 10.80 and a beta of 0.56. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.06 and a current ratio of 0.06. Globe Life has a 1 year low of $96.73 and a 1 year high of $144.00.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $3.27 earnings per share for the quarter, beating analysts’ consensus estimates of $3.25 by $0.02. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.50 billion. Globe Life had a return on equity of 21.24% and a net margin of 18.11%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the company earned $2.97 EPS. Analysts predict that Globe Life will post 13.87 earnings per share for the current fiscal year.

Insider Transactions at Globe Life

In other news, CEO James Matthew Darden sold 33,270 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $135.59, for a total transaction of $4,511,079.30. Following the transaction, the chief executive officer directly owned 49,842 shares of the company’s stock, valued at approximately $6,758,076.78. This trade represents a 40.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $140.97, for a total transaction of $4,081,363.44. Following the transaction, the chief financial officer directly owned 30,665 shares in the company, valued at $4,322,845.05. This represents a 48.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,741 shares of company stock valued at $12,471,180. 1.97% of the stock is currently owned by company insiders.

Institutional Trading of Globe Life

Several large investors have recently made changes to their positions in GL. Mariner LLC increased its stake in shares of Globe Life by 9.5% during the 4th quarter. Mariner LLC now owns 31,355 shares of the company’s stock worth $3,497,000 after purchasing an additional 2,733 shares during the last quarter. United Capital Financial Advisors LLC increased its stake in shares of Globe Life by 4.8% during the 4th quarter. United Capital Financial Advisors LLC now owns 4,044 shares of the company’s stock worth $451,000 after purchasing an additional 186 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Globe Life by 23.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 138,600 shares of the company’s stock worth $15,457,000 after purchasing an additional 26,000 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Globe Life by 3.7% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 48,608 shares of the company’s stock worth $5,414,000 after purchasing an additional 1,731 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Globe Life by 10.4% during the 4th quarter. First Trust Advisors LP now owns 298,899 shares of the company’s stock worth $33,333,000 after purchasing an additional 28,079 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

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.