Globe Life (NYSE:GL) Price Target Raised to $171.00 at Morgan Stanley

Globe Life (NYSE:GL) had its price objective hoisted by Morgan Stanley from $166.00 to $171.00 in a research note released on Monday morning, Marketbeat reports. Morgan Stanley currently has an overweight rating on the stock.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. raised their price target on shares of Globe Life from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Piper Sandler decreased their price objective on shares of Globe Life from $152.00 to $147.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. Cfra Research raised shares of Globe Life to a “moderate buy” rating in a report on Friday, July 25th. Wall Street Zen raised shares of Globe Life from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Globe Life from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and a consensus target price of $152.45.

Globe Life Price Performance

GL opened at $139.0540 on Monday. The company has a fifty day simple moving average of $128.00 and a 200 day simple moving average of $124.62. The firm has a market cap of $11.26 billion, a price-to-earnings ratio of 11.12 and a beta of 0.56. Globe Life has a twelve month low of $97.24 and a twelve month high of $144.00. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.43.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share for the quarter, beating analysts’ consensus estimates of $3.25 by $0.02. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.50 billion. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. The business’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the business earned $2.97 EPS. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. Equities research analysts expect that Globe Life will post 13.87 EPS for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 3rd will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.8%. Globe Life’s payout ratio is 8.63%.

Insider Activity

In related news, CFO Thomas Peter Kalmbach sold 28,952 shares of Globe Life stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $140.97, for a total value of $4,081,363.44. Following the sale, the chief financial officer directly owned 30,665 shares in the company, valued at $4,322,845.05. This trade represents a 48.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael Clay Majors sold 10,000 shares of Globe Life stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $137.41, for a total transaction of $1,374,100.00. Following the completion of the sale, the executive vice president owned 47,066 shares in the company, valued at approximately $6,467,339.06. This represents a 17.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,722 shares of company stock valued at $11,733,793. 1.51% of the stock is owned by company insiders.

Institutional Trading of Globe Life

Several hedge funds have recently bought and sold shares of the company. AdvisorNet Financial Inc lifted its position in Globe Life by 60.0% in the 2nd quarter. AdvisorNet Financial Inc now owns 224 shares of the company’s stock valued at $28,000 after purchasing an additional 84 shares during the last quarter. Amalgamated Bank raised its position in shares of Globe Life by 0.5% during the 1st quarter. Amalgamated Bank now owns 16,348 shares of the company’s stock worth $2,153,000 after buying an additional 85 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its position in shares of Globe Life by 4.0% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company’s stock worth $256,000 after buying an additional 88 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of Globe Life by 0.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 19,776 shares of the company’s stock worth $2,605,000 after buying an additional 89 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of Globe Life by 1.1% during the 1st quarter. Venturi Wealth Management LLC now owns 8,226 shares of the company’s stock worth $1,084,000 after buying an additional 93 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors.

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.