Globe Life (NYSE:GL) Price Target Raised to $191.00

Globe Life (NYSE:GL) had its price target hoisted by Wells Fargo & Company from $190.00 to $191.00 in a research report report published on Monday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other research analysts have also weighed in on the stock. TD Cowen upped their target price on shares of Globe Life from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Morgan Stanley dropped their target price on shares of Globe Life from $208.00 to $197.00 and set an “overweight” rating for the company in a report on Monday, October 5th. Keefe, Bruyette & Woods reduced their price target on shares of Globe Life from $192.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, July 24th. Jefferies Financial Group boosted their price target on Globe Life from $147.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Finally, Weiss Ratings cut Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $190.22.

Globe Life Price Performance

Shares of NYSE GL opened at $167.43 on Monday. The firm has a market capitalization of $12.87 billion, a P/E ratio of 11.12 and a beta of 0.44. Globe Life has a one year low of $127.85 and a one year high of $191.55. The company’s fifty day moving average is $172.11 and its two-hundred day moving average is $166.02. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07.

Globe Life (NYSE:GL) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $3.61 earnings per share for the quarter, missing analysts’ consensus estimates of $3.67 by ($0.06). The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. Globe Life had a return on equity of 20.52% and a net margin of 19.58%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the company earned $3.05 earnings per share. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. Analysts forecast that Globe Life will post 15.70 EPS for the current fiscal year.

Globe Life announced that its Board of Directors has initiated a stock buyback plan on Monday, August 10th that authorizes the company to buy back $2.50 billion in shares. This repurchase authorization authorizes the company to repurchase up to 17.7% of its shares through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Globe Life Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Monday, October 5th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, October 5th. Globe Life’s payout ratio is 8.76%.

Insider Buying and Selling

In related news, EVP Robert Hensley sold 10,000 shares of Globe Life stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $170.07, for a total transaction of $1,700,700.00. Following the completion of the sale, the executive vice president owned 12,384 shares in the company, valued at approximately $2,106,146.88. This trade represents a 44.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James Darden sold 50,000 shares of Globe Life stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $182.43, for a total value of $9,121,500.00. Following the sale, the chief executive officer owned 58,451 shares of the company’s stock, valued at approximately $10,663,215.93. This represents a 46.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 143,650 shares of company stock valued at $25,793,717 over the last three months. Insiders own 2.11% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GL. Mather Group LLC. increased its stake in Globe Life by 9.5% during the third quarter. Mather Group LLC. now owns 773 shares of the company’s stock worth $128,000 after acquiring an additional 67 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Globe Life by 2.7% in the 2nd quarter. NewEdge Advisors LLC now owns 2,562 shares of the company’s stock worth $458,000 after purchasing an additional 68 shares during the period. Root Financial Partners LLC raised its holdings in shares of Globe Life by 23.3% in the 1st quarter. Root Financial Partners LLC now owns 439 shares of the company’s stock worth $61,000 after purchasing an additional 83 shares during the period. Empirical Finance LLC raised its holdings in shares of Globe Life by 2.8% in the 2nd quarter. Empirical Finance LLC now owns 3,228 shares of the company’s stock worth $577,000 after purchasing an additional 87 shares during the period. Finally, First United Bank & Trust lifted its stake in shares of Globe Life by 2.1% in the 1st quarter. First United Bank & Trust now owns 4,355 shares of the company’s stock valued at $606,000 after purchasing an additional 90 shares in the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Globe Life Company Profile

Globe Life Inc (NYSE: GL) is an insurance holding company that provides life and supplemental health insurance products to individuals and families in the United States. Its offerings include term and whole life insurance, mortgage protection coverage, accident and supplemental health policies, and Medicare supplement insurance.

The company distributes its products through a network of insurance agencies, independent agents, and direct-to-consumer channels. Its principal insurance businesses include Globe Life and Accident Insurance Company, American Income Life Insurance Company, Liberty National Life Insurance Company, and Family Heritage Life Insurance Company.