Wells Fargo & Company Issues Positive Forecast for Globe Life (NYSE:GL) Stock Price

Globe Life (NYSE:GL) had its price objective upped by Wells Fargo & Company from $190.00 to $191.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts also recently weighed in on the stock. Weiss Ratings downgraded shares of Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, October 6th. TD Cowen lifted their price target on shares of Globe Life from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Globe Life from $181.00 to $201.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Piper Sandler upped their price objective on Globe Life from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Finally, Jefferies Financial Group upped their price objective on Globe Life from $147.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Globe Life currently has a consensus rating of “Moderate Buy” and an average target price of $190.22.

Globe Life Price Performance

NYSE GL opened at $165.25 on Monday. Globe Life has a 52 week low of $127.85 and a 52 week high of $191.55. The firm has a market capitalization of $12.70 billion, a P/E ratio of 10.97 and a beta of 0.44. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $172.80 and a 200-day moving average price of $165.62.

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

Globe Life Dividend Announcement

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

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

Insider Activity

In other Globe Life news, CFO Thomas Kalmbach sold 21,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $180.06, for a total transaction of $3,781,260.00. Following the sale, the chief financial officer owned 50,568 shares in the company, valued at approximately $9,105,274.08. This trade represents a 29.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Majors sold 37,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $178.64, for a total transaction of $6,609,680.00. Following the sale, the executive vice president owned 53,518 shares in the company, valued at approximately $9,560,455.52. The trade was a 40.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 143,650 shares of company stock valued at $25,793,717. 2.11% of the stock is owned by insiders.

Institutional Trading of Globe Life

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new position in Globe Life in the 2nd quarter worth $987,901,000. State Street Corp raised its holdings in Globe Life by 2.1% during the second quarter. State Street Corp now owns 3,735,409 shares of the company’s stock valued at $667,443,000 after acquiring an additional 76,745 shares during the period. Dimensional Fund Advisors LP raised its holdings in Globe Life by 10.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,353,192 shares of the company’s stock valued at $327,479,000 after acquiring an additional 217,331 shares during the period. Pzena Investment Management LLC bought a new stake in Globe Life during the second quarter valued at about $242,256,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Globe Life by 32.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,435,247 shares of the company’s stock valued at $200,734,000 after acquiring an additional 355,399 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors.

About Globe Life

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.