Morgan Stanley Has Lowered Expectations for Globe Life (NYSE:GL) Stock Price

Globe Life (NYSE:GL) had its price objective reduced by investment analysts at Morgan Stanley from $126.00 to $117.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential downside of 2.06% from the company’s previous close.

A number of other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Globe Life from $136.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods increased their target price on shares of Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their price target on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $132.00 to $143.00 in a research note on Wednesday, January 8th. Finally, BMO Capital Markets initiated coverage on Globe Life in a report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $137.55.

Globe Life Stock Performance

NYSE GL opened at $119.46 on Thursday. The stock has a market capitalization of $9.94 billion, a price-to-earnings ratio of 10.00 and a beta of 0.60. The business’s 50 day moving average is $124.30 and its two-hundred day moving average is $115.22. Globe Life has a 12-month low of $52.17 and a 12-month high of $133.76. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last posted 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%. Research analysts expect that Globe Life will post 13.87 EPS for the current year.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 11,000 shares of Globe Life stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $122.31, for a total value of $1,345,410.00. Following the completion of the sale, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at approximately $2,317,529.88. The trade was a 36.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Matthew Darden sold 24,890 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total value of $3,024,632.80. Following the transaction, the chief executive officer now directly owns 38,973 shares in the company, valued at approximately $4,735,998.96. This represents a 38.97 % decrease in their position. The disclosure for this sale can be found here. 1.51% of the stock is owned by insiders.

Institutional Trading of Globe Life

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its holdings in shares of Globe Life by 6.8% during the 4th quarter. Wellington Management Group LLP now owns 5,117,122 shares of the company’s stock worth $570,661,000 after buying an additional 326,307 shares during the last quarter. Invesco Ltd. grew its position in Globe Life by 6.0% during the fourth quarter. Invesco Ltd. now owns 3,932,637 shares of the company’s stock valued at $438,568,000 after acquiring an additional 223,282 shares during the period. Geode Capital Management LLC grew its position in Globe Life by 3.5% during the third quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock valued at $276,994,000 after acquiring an additional 89,299 shares during the period. Dimensional Fund Advisors LP increased its stake in Globe Life by 8.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,592,734 shares of the company’s stock worth $177,615,000 after acquiring an additional 118,054 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Globe Life by 2.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,284,322 shares of the company’s stock worth $143,228,000 after purchasing an additional 36,051 shares during the period. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Company Profile

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.