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

Globe Life (NYSE:GL) had its price objective lifted by Wells Fargo & Company from $172.00 to $193.00 in a research note released on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages have also commented on GL. Morgan Stanley increased their price objective on Globe Life from $181.00 to $208.00 and gave the company an “overweight” rating in a research report on Monday. TD Cowen upped their price target on Globe Life from $199.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Truist Financial raised their price target on Globe Life from $180.00 to $185.00 and gave the company a “buy” rating in a report on Friday, April 24th. Weiss Ratings upgraded Globe Life from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. Finally, Keefe, Bruyette & Woods restated a “moderate buy” rating and set a $168.00 target price on shares of Globe Life in a research report on Thursday, March 26th. One equities 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, the company currently has an average rating of “Moderate Buy” and an average target price of $181.22.

Globe Life Trading Up 1.0%

GL opened at $178.85 on Thursday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $13.89 billion, a PE ratio of 12.37 and a beta of 0.47. Globe Life has a 1-year low of $116.73 and a 1-year high of $182.32. The firm has a 50-day moving average price of $163.17 and a two-hundred day moving average price of $149.98.

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

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, July 6th. Globe Life’s dividend payout ratio (DPR) is currently 9.13%.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO James Matthew Darden sold 4,663 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $153.88, for a total transaction of $717,542.44. Following the transaction, the chief executive officer owned 58,451 shares in the company, valued at approximately $8,994,439.88. This trade represents a 7.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frank M. Svoboda sold 10,000 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $166.68, for a total value of $1,666,800.00. Following the completion of the sale, the chief executive officer directly owned 54,020 shares of the company’s stock, valued at approximately $9,004,053.60. This trade represents a 15.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 124,187 shares of company stock valued at $19,529,414 over the last quarter. 2.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Globe Life in the 4th quarter valued at $155,617,000. Northwestern Mutual Wealth Management Co. grew its stake in Globe Life by 34,786.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 881,919 shares of the company’s stock valued at $123,345,000 after acquiring an additional 879,391 shares during the period. AQR Capital Management LLC increased its holdings in shares of Globe Life by 98.6% in the second quarter. AQR Capital Management LLC now owns 1,402,690 shares of the company’s stock worth $174,340,000 after acquiring an additional 696,548 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Globe Life in the third quarter worth about $80,925,000. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Globe Life by 32.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,435,247 shares of the company’s stock worth $200,734,000 after purchasing an additional 355,399 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

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.