Globe Life (NYSE:GL) Price Target Raised to $195.00

Globe Life (NYSE:GL) had its target price lifted by JPMorgan Chase & Co. from $193.00 to $195.00 in a research report report published on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also recently weighed in on GL. Morgan Stanley cut their price target on Globe Life from $208.00 to $197.00 and set an “overweight” rating for the company in a report on Monday, October 5th. TD Cowen lifted their price objective on Globe Life from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods decreased their price objective on Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, July 24th. Weiss Ratings cut Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, October 6th. Finally, Piper Sandler increased their target price on Globe Life from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $189.56.

Globe Life Stock Performance

GL opened at $168.49 on Thursday. The stock has a market capitalization of $12.95 billion, a price-to-earnings ratio of 11.19 and a beta of 0.44. The company has a fifty day moving average of $171.45 and a 200 day moving average of $166.26. Globe Life has a fifty-two week low of $127.85 and a fifty-two week high of $191.55. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $3.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.67 by ($0.06). The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. Globe Life had a net margin of 19.58% and a return on equity of 20.52%. The business’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.05 earnings per share. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. As a group, sell-side analysts forecast that Globe Life will post 15.70 earnings per share for the current fiscal year.

Globe Life announced that its Board of Directors has authorized a stock buyback program on Monday, August 10th that authorizes the company to buy back $2.50 billion in shares. This buyback authorization authorizes the company to purchase up to 17.7% of its shares through open market purchases. Share buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Monday, October 5th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, October 5th. Globe Life’s payout ratio is presently 8.76%.

Insider Buying and Selling

In related news, CEO James Darden sold 50,000 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $182.43, for a total value of $9,121,500.00. Following the completion of the sale, the chief executive officer directly owned 58,451 shares in the company, valued at $10,663,215.93. This trade represents a 46.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert Hensley sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $170.07, for a total value of $1,700,700.00. Following the completion of the sale, the executive vice president owned 12,384 shares of the company’s stock, valued at approximately $2,106,146.88. This represents a 44.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 143,650 shares of company stock valued at $25,793,717. 2.11% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Amundi boosted its stake in shares of Globe Life by 307.4% during the second quarter. Amundi now owns 162,223 shares of the company’s stock valued at $28,986,000 after purchasing an additional 122,402 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Globe Life in the second quarter worth about $4,574,000. Sei Investments Co. grew its holdings in shares of Globe Life by 49.1% in the first quarter. Sei Investments Co. now owns 71,795 shares of the company’s stock worth $9,993,000 after purchasing an additional 23,632 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Globe Life in the 2nd quarter worth about $17,229,000. Finally, Bank of America Corp DE purchased a new position in Globe Life in the 2nd quarter worth about $121,638,000. Institutional investors own 81.61% of the company’s stock.

Globe Life Company Profile

Globe Life Inc (NYSE: GL) is an insurance holding company that provides life and supplemental health insurance products to individuals and families in the United States. Its offerings include term and whole life insurance, mortgage protection coverage, accident and supplemental health policies, and Medicare supplement insurance.

The company distributes its products through a network of insurance agencies, independent agents, and direct-to-consumer channels. Its principal insurance businesses include Globe Life and Accident Insurance Company, American Income Life Insurance Company, Liberty National Life Insurance Company, and Family Heritage Life Insurance Company.