Globe Life (NYSE:GL) Given New $208.00 Price Target at Morgan Stanley

Globe Life (NYSE:GL) had its price objective raised by Morgan Stanley from $181.00 to $208.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms also recently weighed in on GL. Texas Capital raised shares of Globe Life to a “strong-buy” rating in a research note on Wednesday, March 18th. Keefe, Bruyette & Woods reiterated a “moderate buy” rating and issued a $168.00 price target on shares of Globe Life in a report on Thursday, March 26th. Piper Sandler raised their price objective on shares of Globe Life from $167.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. TD Cowen raised their price target on shares of Globe Life from $199.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Finally, Weiss Ratings raised shares of Globe Life from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 13th. One 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $178.89.

Globe Life Trading Up 1.3%

GL traded up $2.23 during trading on Monday, reaching $179.21. 21,822 shares of the company’s stock were exchanged, compared to its average volume of 545,992. The firm has a fifty day moving average price of $161.66 and a two-hundred day moving average price of $149.17. The stock has a market capitalization of $13.91 billion, a PE ratio of 12.37 and a beta of 0.47. Globe Life has a one year low of $116.73 and a one year high of $182.32. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.38.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, April 22nd. The company reported $3.43 earnings per share for the quarter, missing analysts’ consensus estimates of $3.46 by ($0.03). The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.56 billion. Globe Life had a net margin of 19.38% and a return on equity of 20.94%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $3.07 EPS. Globe Life has set its FY 2026 guidance at 15.400-15.90 EPS. As a group, equities research analysts forecast that Globe Life will post 15.64 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, July 31st. Shareholders of record on Monday, July 6th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, July 6th. Globe Life’s payout ratio is presently 9.13%.

Insider Transactions at Globe Life

In other Globe Life news, Director Cheryl Alston sold 8,258 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $179.24, for a total value of $1,480,163.92. Following the completion of the transaction, the director directly owned 16,621 shares of the company’s stock, valued at $2,979,148.04. This trade represents a 33.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James Matthew Darden sold 4,663 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $153.88, for a total value of $717,542.44. Following the transaction, the chief executive officer directly owned 58,451 shares of the company’s stock, valued at $8,994,439.88. The trade was a 7.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 124,187 shares of company stock valued at $19,529,414. Company insiders own 2.11% of the company’s stock.

Hedge Funds Weigh In On Globe Life

A number of institutional investors and hedge funds have recently modified their holdings of GL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 acquiring an additional 607 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Globe Life by 368.1% during the 1st quarter. NewEdge Advisors LLC now owns 6,806 shares of the company’s stock valued at $897,000 after acquiring an additional 5,352 shares during the period. Goldman Sachs Group Inc. grew 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 valued at $74,161,000 after purchasing an additional 58,163 shares during the period. Empowered Funds LLC acquired a new position in Globe Life in the first quarter valued at approximately $428,000. Finally, Focus Partners Wealth lifted its holdings in Globe Life by 8.3% in 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 during the period. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

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.