Wells Fargo & Company Increases Globe Life (NYSE:GL) Price Target to $171.00

Globe Life (NYSE:GL) had its price target increased by research analysts at Wells Fargo & Company from $170.00 to $171.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 20.53% from the stock’s previous close.

Several other research firms have also recently weighed in on GL. Truist Financial lifted their price target on Globe Life from $158.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Piper Sandler reiterated an “overweight” rating and set a $167.00 price objective on shares of Globe Life in a research report on Friday, November 21st. Evercore set a $157.00 target price on shares of Globe Life in a research report on Wednesday, February 18th. TD Cowen reaffirmed a “buy” rating on shares of Globe Life in a research report on Thursday, December 11th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $176.00 price objective on shares of Globe Life in a research note on Monday, December 15th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Globe Life presently has an average rating of “Moderate Buy” and a consensus price target of $171.33.

Globe Life Stock Performance

Shares of GL traded down $0.41 during trading hours on Wednesday, hitting $141.88. The company had a trading volume of 44,831 shares, compared to its average volume of 502,317. The business has a fifty day moving average of $141.50 and a 200-day moving average of $138.60. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.41. The firm has a market cap of $11.29 billion, a price-to-earnings ratio of 10.05 and a beta of 0.47. Globe Life has a 12 month low of $109.38 and a 12 month high of $152.71.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $3.39 EPS for the quarter, missing analysts’ consensus estimates of $3.44 by ($0.05). The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.53 billion. Globe Life had a net margin of 19.37% and a return on equity of 21.75%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company posted $3.14 EPS. Globe Life has set its FY 2026 guidance at 14.950-15.650 EPS. Equities analysts anticipate that Globe Life will post 13.87 EPS for the current fiscal year.

Insider Activity at Globe Life

In other news, EVP Michael Clay Majors sold 30,000 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $146.89, for a total transaction of $4,406,700.00. Following the completion of the transaction, the executive vice president directly owned 47,066 shares of the company’s stock, valued at $6,913,524.74. This represents a 38.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Jennifer Allison Haworth sold 10,000 shares of Globe Life stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $143.14, for a total transaction of $1,431,400.00. Following the completion of the sale, the chief marketing officer directly owned 17,479 shares in the company, valued at $2,501,944.06. This trade represents a 36.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 63,629 shares of company stock valued at $9,223,785 over the last quarter. 1.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Globe Life

Several hedge funds have recently made changes to their positions in GL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Globe Life by 6.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,391 shares of the company’s stock worth $1,237,000 after purchasing an additional 607 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Globe Life by 368.1% in the first quarter. NewEdge Advisors LLC now owns 6,806 shares of the company’s stock worth $897,000 after buying an additional 5,352 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Globe Life by 11.5% in the first quarter. Goldman Sachs Group Inc. now owns 563,021 shares of the company’s stock worth $74,161,000 after buying an additional 58,163 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Globe Life in the first quarter valued at approximately $428,000. Finally, Focus Partners Wealth grew its stake in Globe Life by 8.3% during the first quarter. Focus Partners Wealth now owns 8,559 shares of the company’s stock valued at $1,127,000 after acquiring an additional 656 shares in the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

About Globe Life

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.