Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Globe Life (NYSE:GL) Stock

Globe Life (NYSE:GL) had its price target upped by Keefe, Bruyette & Woods from $137.00 to $145.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 19.53% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Raymond James increased their price target on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 15th. Truist Financial increased their target price on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and raised their target price for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. Piper Sandler upped their price target on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, BMO Capital Markets assumed coverage on shares of Globe Life in a research note on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price objective on the stock. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $133.10.

Globe Life Trading Down 0.8 %

Globe Life stock opened at $121.31 on Wednesday. Globe Life has a 52-week low of $38.95 and a 52-week high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $10.18 billion, a price-to-earnings ratio of 10.15 and a beta of 0.81. The firm has a 50-day moving average price of $113.67 and a two-hundred day moving average price of $107.57.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share (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%. Sell-side analysts expect that Globe Life will post 13.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frank M. Svoboda sold 13,448 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was 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 $2,132,786.88. This represents a 41.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,788 shares of company stock worth $4,429,779. 1.51% of the stock is owned by insiders.

Institutional Trading of Globe Life

Several large investors have recently added to or reduced their stakes in the company. Nuance Investments LLC boosted its position in Globe Life by 8.3% during the 4th quarter. Nuance Investments LLC now owns 1,234,069 shares of the company’s stock worth $137,623,000 after acquiring an additional 95,091 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Globe Life by 50.0% during the fourth quarter. Prudential Financial Inc. now owns 82,749 shares of the company’s stock worth $9,069,000 after purchasing an additional 27,590 shares during the period. Congress Wealth Management LLC DE acquired a new stake in shares of Globe Life during the fourth quarter worth approximately $392,000. LPL Financial LLC grew its position in Globe Life by 6.9% during the fourth quarter. LPL Financial LLC now owns 291,234 shares of the company’s stock valued at $32,478,000 after purchasing an additional 18,799 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Globe Life in the 4th quarter valued at approximately $2,565,000. 81.61% of the stock is owned by institutional investors and hedge funds.

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.