Wells Fargo & Company Forecasts Strong Price Appreciation for Globe Life (NYSE:GL) Stock

Globe Life (NYSE:GL) had its price objective boosted by analysts at Wells Fargo & Company from $190.00 to $191.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 15.02% from the company’s current price.

A number of other brokerages have also recently issued reports on GL. Weiss Ratings cut Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, October 6th. Morgan Stanley dropped their price target on Globe Life from $208.00 to $197.00 and set an “overweight” rating on the stock in a research note on Monday, October 5th. Piper Sandler lifted their price target on Globe Life from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods cut their price target on Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, July 24th. Finally, Jefferies Financial Group boosted their price objective on Globe Life from $147.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $190.22.

Globe Life Price Performance

Shares of GL opened at $166.05 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.07 and a quick ratio of 0.07. Globe Life has a 1-year low of $127.85 and a 1-year high of $191.55. The stock has a market cap of $12.76 billion, a PE ratio of 11.03 and a beta of 0.44. The firm has a fifty day moving average price of $172.44 and a 200 day moving average price of $165.82.

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

Globe Life declared that its Board of Directors has initiated a share repurchase program on Monday, August 10th that permits the company to buy back $2.50 billion in shares. This buyback authorization permits the company to buy up to 17.7% of its shares through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CEO James Darden sold 50,000 shares of the stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $182.43, for a total transaction of $9,121,500.00. Following the completion of the transaction, the chief executive officer directly owned 58,451 shares of the company’s stock, valued at $10,663,215.93. This represents a 46.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Michael Majors sold 37,000 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $178.64, for a total transaction of $6,609,680.00. Following the completion of the sale, the executive vice president owned 53,518 shares of the company’s stock, valued at approximately $9,560,455.52. The trade was a 40.88% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 owned by insiders.

Institutional Investors Weigh In On Globe Life

Hedge funds and other institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC increased its stake in Globe Life by 2.7% during the second quarter. NewEdge Advisors LLC now owns 2,562 shares of the company’s stock valued at $458,000 after acquiring an additional 68 shares during the period. Root Financial Partners LLC lifted its position in shares of Globe Life by 23.3% in the 1st quarter. Root Financial Partners LLC now owns 439 shares of the company’s stock worth $61,000 after acquiring an additional 83 shares during the period. Empirical Finance LLC lifted its position in shares of Globe Life by 2.8% in the 2nd quarter. Empirical Finance LLC now owns 3,228 shares of the company’s stock worth $577,000 after acquiring an additional 87 shares during the period. First United Bank & Trust grew its holdings in shares of Globe Life by 2.1% during the 1st quarter. First United Bank & Trust now owns 4,355 shares of the company’s stock worth $606,000 after purchasing an additional 90 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Globe Life by 4.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,366 shares of the company’s stock worth $329,000 after purchasing an additional 91 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

About Globe Life

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.