Piper Sandler Issues Positive Forecast for Globe Life (NYSE:GL) Stock Price

Globe Life (NYSE:GL) had its price target boosted by investment analysts at Piper Sandler from $140.00 to $152.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price suggests a potential upside of 15.39% from the company’s previous close.

A number of other research firms have also recently commented on GL. Keefe, Bruyette & Woods boosted their price target on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. BMO Capital Markets initiated coverage on shares of Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Globe Life from $136.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. Finally, Wells Fargo & Company increased their price objective on shares of Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $138.45.

Globe Life Price Performance

Shares of GL traded down $0.41 during mid-day trading on Wednesday, reaching $131.72. The stock had a trading volume of 54,092 shares, compared to its average volume of 1,423,195. The business has a fifty day moving average of $124.49 and a 200 day moving average of $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 firm has a market cap of $10.96 billion, a price-to-earnings ratio of 11.02 and a beta of 0.77. Globe Life has a 12 month low of $38.95 and a 12 month high of $133.31.

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

Insiders Place Their Bets

In related news, CEO Frank M. Svoboda sold 13,448 shares of Globe Life stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the completion of the transaction, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at approximately $2,132,786.88. The trade was a 41.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $339,690.00. Following the transaction, the director now owns 5,122 shares in the company, valued at $579,964.06. The trade was a 36.94 % 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 valued at $7,239,630 over the last ninety days. 1.51% of the stock is owned by insiders.

Institutional Trading of Globe Life

Several institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Globe Life in the fourth quarter worth approximately $61,238,000. State Street Corp grew its position in Globe Life by 3.4% in the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after acquiring an additional 115,432 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Globe Life by 9.0% during the third quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock worth $11,154,000 after purchasing an additional 8,663 shares during the last quarter. Merit Financial Group LLC purchased a new stake in shares of Globe Life during the fourth quarter valued at $487,000. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of Globe Life by 61.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 24,665 shares of the company’s stock worth $2,751,000 after purchasing an additional 9,395 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

About Globe Life

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.