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

Globe Life (NYSE:GL) had its target price upped by stock analysts at Wells Fargo & Company from $126.00 to $141.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 13.84% from the stock’s current price.

GL has been the subject of a number of other reports. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Morgan Stanley lifted their target price on shares of Globe Life from $123.00 to $125.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. BMO Capital Markets initiated coverage on shares of Globe Life in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target on the stock. Truist Financial boosted their target price on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $135.50.

Globe Life Trading Up 1.7 %

Globe Life stock opened at $123.86 on Wednesday. Globe Life has a 52 week low of $38.95 and a 52 week high of $132.00. 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 firm has a market capitalization of $10.40 billion, a price-to-earnings ratio of 10.36 and a beta of 0.81. The company has a 50 day moving average price of $115.42 and a 200 day moving average price of $108.62.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, topping 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%. Research analysts forecast that Globe Life will post 13.83 EPS for the current year.

Insider Transactions at Globe Life

In other news, Director Mark A. Blinn sold 3,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the sale, the director now owns 5,122 shares of the company’s stock, valued at approximately $579,964.06. This represents a 36.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank M. Svoboda sold 11,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $122.31, for a total value of $1,345,410.00. Following the sale, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at $2,317,529.88. This represents a 36.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 75,678 shares of company stock valued at $8,799,822. Company insiders own 1.51% of the company’s stock.

Hedge Funds Weigh In On Globe Life

Several large investors have recently bought and sold shares of GL. Waverly Advisors LLC grew its holdings in Globe Life by 10.8% during the 4th quarter. Waverly Advisors LLC now owns 5,662 shares of the company’s stock worth $631,000 after acquiring an additional 554 shares during the period. Woodline Partners LP acquired a new stake in shares of Globe Life during the fourth quarter worth $5,636,000. Virtus Fund Advisers LLC bought a new stake in Globe Life in the fourth quarter valued at about $116,000. Virtus Investment Advisers Inc. acquired a new position in Globe Life in the fourth quarter valued at about $1,358,000. Finally, WBI Investments LLC bought a new position in Globe Life during the fourth quarter worth about $2,100,000. 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.