Keefe, Bruyette & Woods Issues Positive Forecast for Globe Life (NYSE:GL) Stock Price

Globe Life (NYSE:GL) had its target price 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 firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 19.53% from the stock’s previous close.

A number of other research firms have also recently weighed in on GL. BMO Capital Markets initiated coverage on Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price target for the company. Morgan Stanley raised their target price on shares of Globe Life from $123.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. Raymond James upped their price objective on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Jefferies Financial Group lifted their target price on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $133.10.

Globe Life Stock Performance

GL opened at $121.31 on Wednesday. Globe Life has a 1-year low of $38.95 and a 1-year high of $132.00. The stock has a market cap of $10.18 billion, a P/E ratio of 10.15 and a beta of 0.81. The stock’s 50 day simple moving average is $113.67 and its 200 day simple moving average is $107.57. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. As a group, equities analysts anticipate that Globe Life will post 13.57 EPS for the current fiscal year.

Insider Activity

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the sale, the director now owns 5,122 shares in the company, valued at $579,964.06. This trade represents a 36.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the completion of the sale, the chief marketing officer now directly owns 13,485 shares in the company, valued at $1,522,591.35. This represents a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,788 shares of company stock worth $4,429,779. 1.51% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Private Trust Co. NA grew its position in shares of Globe Life by 12.5% during the 4th quarter. Private Trust Co. NA now owns 754 shares of the company’s stock valued at $84,000 after buying an additional 84 shares during the last quarter. Pinnacle Wealth Planning Services Inc. boosted its stake in Globe Life by 4.0% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company’s stock valued at $256,000 after acquiring an additional 88 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Globe Life by 32.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $41,000 after purchasing an additional 90 shares during the last quarter. New Mexico Educational Retirement Board raised its position in shares of Globe Life by 2.4% during the 4th quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company’s stock worth $472,000 after purchasing an additional 100 shares during the period. Finally, Erste Asset Management GmbH lifted its holdings in shares of Globe Life by 3.7% in the 4th quarter. Erste Asset Management GmbH now owns 2,800 shares of the company’s stock worth $307,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

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.