Globe Life (NYSE:GL) PT Set at $127.00 by Morgan Stanley

Globe Life (NYSE:GL) has been assigned a $127.00 target price by research analysts at Morgan Stanley in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 7.75% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Wall Street Zen upgraded shares of Globe Life from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Wells Fargo & Company raised their price target on shares of Globe Life from $139.00 to $144.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. JPMorgan Chase & Co. upped their target price on Globe Life from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Finally, Piper Sandler cut their target price on shares of Globe Life from $152.00 to $147.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.82.

Globe Life Price Performance

Shares of Globe Life stock opened at $117.87 on Monday. Globe Life has a twelve month low of $86.10 and a twelve month high of $133.76. The company has a 50-day simple moving average of $120.88 and a two-hundred day simple moving average of $121.36. The stock has a market capitalization of $9.73 billion, a price-to-earnings ratio of 9.59 and a beta of 0.56. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.43.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $3.07 EPS for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.17). The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. Globe Life had a return on equity of 21.44% and a net margin of 18.33%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.78 EPS. Analysts forecast that Globe Life will post 13.87 EPS for the current year.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 6,019 shares of the business’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $122.51, for a total value of $737,387.69. Following the transaction, the chief executive officer owned 31,298 shares of the company’s stock, valued at approximately $3,834,317.98. The trade was a 16.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.97% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. DAVENPORT & Co LLC purchased a new position in shares of Globe Life in the first quarter valued at $493,000. Principal Financial Group Inc. lifted its holdings in shares of Globe Life by 4.1% during the 1st quarter. Principal Financial Group Inc. now owns 101,679 shares of the company’s stock worth $13,393,000 after acquiring an additional 3,960 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Globe Life by 693.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 24,184 shares of the company’s stock worth $3,185,000 after purchasing an additional 21,136 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Globe Life by 8.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,711 shares of the company’s stock valued at $1,260,000 after acquiring an additional 723 shares during the last quarter. Finally, Lighthouse Investment Partners LLC boosted its position in Globe Life by 914.9% during the fourth quarter. Lighthouse Investment Partners LLC now owns 128,266 shares of the company’s stock valued at $14,304,000 after buying an additional 115,628 shares during the period. 81.61% of the stock is owned by institutional investors.

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.