Globe Life (NYSE:GL) Given New $193.00 Price Target at Wells Fargo & Company

Globe Life (NYSE:GL) had its price target lifted by equities research analysts at Wells Fargo & Company from $172.00 to $193.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 7.51% from the company’s previous close.

Several other brokerages also recently issued reports on GL. Morgan Stanley boosted their price target on shares of Globe Life from $181.00 to $208.00 and gave the company an “overweight” rating in a report on Monday. Keefe, Bruyette & Woods restated a “moderate buy” rating and issued a $168.00 price target on shares of Globe Life in a research note on Thursday, March 26th. Weiss Ratings upgraded Globe Life from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. Truist Financial raised their target price on shares of Globe Life from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Finally, Piper Sandler increased their price objective on shares of Globe Life from $167.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $181.22.

Globe Life Trading Up 1.4%

GL stock traded up $2.46 during trading on Thursday, reaching $179.53. 209,748 shares of the stock traded hands, compared to its average volume of 548,788. The firm has a market capitalization of $13.94 billion, a PE ratio of 12.41 and a beta of 0.47. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.07 and a quick ratio of 0.07. The business’s 50 day moving average price is $162.65 and its 200-day moving average price is $149.70. Globe Life has a 52-week low of $116.73 and a 52-week high of $182.32.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $3.43 earnings per share for the quarter, missing analysts’ consensus estimates of $3.46 by ($0.03). The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.56 billion. Globe Life had a net margin of 19.38% and a return on equity of 20.94%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm earned $3.07 earnings per share. Globe Life has set its FY 2026 guidance at 15.400-15.90 EPS. As a group, sell-side analysts forecast that Globe Life will post 15.64 earnings per share for the current year.

Insider Activity

In other Globe Life news, CFO Thomas Peter Kalmbach sold 15,637 shares of Globe Life stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $153.65, for a total value of $2,402,625.05. Following the completion of the sale, the chief financial officer directly owned 45,335 shares in the company, valued at $6,965,722.75. The trade was a 25.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank M. Svoboda sold 20,000 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $156.68, for a total transaction of $3,133,600.00. Following the completion of the sale, the chief executive officer owned 54,020 shares of the company’s stock, valued at $8,463,853.60. This represents a 27.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 124,187 shares of company stock valued at $19,529,414. 2.11% of the stock is currently owned by company insiders.

Institutional Trading of Globe Life

A number of institutional investors and hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Globe Life by 6.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,391 shares of the company’s stock worth $1,237,000 after acquiring an additional 607 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Globe Life by 368.1% in the 1st quarter. NewEdge Advisors LLC now owns 6,806 shares of the company’s stock valued at $897,000 after buying an additional 5,352 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Globe Life by 11.5% during the first quarter. Goldman Sachs Group Inc. now owns 563,021 shares of the company’s stock worth $74,161,000 after acquiring an additional 58,163 shares during the last quarter. Empowered Funds LLC bought a new position in Globe Life in the first quarter valued at about $428,000. Finally, Focus Partners Wealth increased its position in Globe Life by 8.3% in the first quarter. Focus Partners Wealth now owns 8,559 shares of the company’s stock worth $1,127,000 after purchasing an additional 656 shares during the period. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Company Profile

Globe Life, traded on the NYSE under the symbol GL, is a U.S.-based insurance holding company that underwrites and distributes a range of life and supplemental health insurance products. Through its subsidiary brands—Globe Life, American Income Life, Liberty National Life, United American Insurance Company and Family Heritage Life—it offers term life, whole life, fixed annuities and supplemental health coverage designed to meet the needs of individuals and families across various socioeconomic segments.

The company’s product suite includes low-cost, easy-to-understand life insurance policies, accidental death and dismemberment coverage, hospital indemnity plans and specified disease insurance.