Wells Fargo & Company Cuts Globe Life (NYSE:GL) Price Target to $170.00

Globe Life (NYSE:GL) had its target price cut by Wells Fargo & Company from $172.00 to $170.00 in a research report report published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Cfra Research upgraded Globe Life to a “moderate buy” rating in a research note on Friday, July 25th. Truist Financial initiated coverage on Globe Life in a research report on Tuesday, July 15th. They set a “buy” rating and a $150.00 price target on the stock. Morgan Stanley set a $179.00 price target on Globe Life and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Globe Life in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their price target on Globe Life from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $152.78.

Globe Life Price Performance

GL stock opened at $133.67 on Friday. The business has a 50 day moving average price of $139.54 and a 200 day moving average price of $129.62. The stock has a market cap of $10.83 billion, a price-to-earnings ratio of 9.69 and a beta of 0.55. Globe Life has a fifty-two week low of $100.27 and a fifty-two week high of $147.83. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.43.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, October 22nd. The company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.54 by $0.27. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Globe Life had a return on equity of 22.12% and a net margin of 19.36%.During the same quarter in the previous year, the business earned $3.44 earnings per share. Globe Life has set its FY 2026 guidance at 14.600-15.300 EPS. FY 2025 guidance at 14.400-14.600 EPS. Equities research analysts anticipate that Globe Life will post 13.87 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 3rd will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.8%. Globe Life’s payout ratio is presently 7.83%.

Insider Activity

In other news, CEO Frank M. Svoboda sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $141.38, for a total value of $1,767,250.00. Following the transaction, the chief executive officer owned 32,747 shares of the company’s stock, valued at approximately $4,629,770.86. The trade was a 27.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael Clay Majors sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $137.41, for a total value of $1,374,100.00. Following the completion of the transaction, the executive vice president directly owned 47,066 shares in the company, valued at approximately $6,467,339.06. The trade was a 17.52% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,452 shares of company stock valued at $7,222,713. Company insiders own 1.97% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of GL. AdvisorNet Financial Inc grew its holdings in Globe Life by 60.0% during the second quarter. AdvisorNet Financial Inc now owns 224 shares of the company’s stock worth $28,000 after acquiring an additional 84 shares during the period. Amalgamated Bank grew its holdings in Globe Life by 0.5% during the first quarter. Amalgamated Bank now owns 16,348 shares of the company’s stock worth $2,153,000 after acquiring an additional 85 shares during the period. Venturi Wealth Management LLC grew its holdings in Globe Life by 1.1% during the first quarter. Venturi Wealth Management LLC now owns 8,226 shares of the company’s stock worth $1,084,000 after acquiring an additional 93 shares during the period. HighPoint Advisor Group LLC grew its holdings in Globe Life by 4.2% during the first quarter. HighPoint Advisor Group LLC now owns 2,366 shares of the company’s stock worth $293,000 after acquiring an additional 95 shares during the period. Finally, Intech Investment Management LLC grew its holdings in Globe Life by 0.8% during the second quarter. Intech Investment Management LLC now owns 11,572 shares of the company’s stock worth $1,438,000 after acquiring an additional 95 shares during the period. 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.