Jefferies Financial Group Raises Globe Life (NYSE:GL) Price Target to $88.00

Globe Life (NYSE:GL) had its target price raised by research analysts at Jefferies Financial Group from $85.00 to $88.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “hold” rating on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 6.46% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on GL. Piper Sandler cut their price target on Globe Life from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday. Wells Fargo & Company lowered their target price on Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Evercore ISI lifted their price objective on Globe Life from $83.00 to $86.00 and gave the stock an “in-line” rating in a report on Wednesday. StockNews.com lowered Globe Life from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Finally, Raymond James reissued a “strong-buy” rating on shares of Globe Life in a report on Tuesday, May 21st. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $111.67.

Globe Life Price Performance

GL stock traded up $0.42 during trading hours on Friday, hitting $82.66. 263,200 shares of the stock traded hands, compared to its average volume of 2,090,017. The stock has a 50-day simple moving average of $81.41 and a 200 day simple moving average of $104.74. Globe Life has a one year low of $38.95 and a one year high of $132.00. The company has a market cap of $7.63 billion, a P/E ratio of 7.89 and a beta of 0.81. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.32.

Globe Life (NYSE:GL) last announced its earnings results on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). Globe Life had a net margin of 18.07% and a return on equity of 23.01%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the company earned $2.53 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities analysts forecast that Globe Life will post 11.72 earnings per share for the current year.

Insider Transactions at Globe Life

In related news, EVP Rebecca E. Zorn sold 2,320 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the transaction, the executive vice president now owns 10,220 shares in the company, valued at $790,006. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Thomas Peter Kalmbach bought 500 shares of Globe Life stock in a transaction that occurred on Friday, May 17th. The shares were acquired at an average price of $84.43 per share, with a total value of $42,215.00. Following the completion of the purchase, the chief financial officer now directly owns 18,080 shares in the company, valued at $1,526,494.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Rebecca E. Zorn sold 2,320 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $77.30, for a total transaction of $179,336.00. Following the sale, the executive vice president now owns 10,220 shares of the company’s stock, valued at $790,006. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 6,500 shares of company stock valued at $536,860. Corporate insiders own 1.51% of the company’s stock.

Institutional Trading of Globe Life

Several institutional investors have recently added to or reduced their stakes in GL. Retirement Systems of Alabama purchased a new stake in Globe Life in the fourth quarter worth about $2,297,000. Quadrature Capital Ltd lifted its holdings in Globe Life by 69.2% in the fourth quarter. Quadrature Capital Ltd now owns 38,785 shares of the company’s stock worth $4,724,000 after buying an additional 15,862 shares during the period. Pacer Advisors Inc. increased its stake in shares of Globe Life by 488.6% during the fourth quarter. Pacer Advisors Inc. now owns 33,620 shares of the company’s stock valued at $4,092,000 after purchasing an additional 27,908 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Globe Life by 5.2% during the fourth quarter. Arizona State Retirement System now owns 26,061 shares of the company’s stock valued at $3,172,000 after purchasing an additional 1,295 shares in the last quarter. Finally, AIA Group Ltd bought a new position in shares of Globe Life during the fourth quarter valued at approximately $1,788,000. 81.61% of the stock is currently owned by hedge funds and other 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.