Globe Life (NYSE:GL) Reaches New 12-Month High – What’s Next?

Globe Life Inc. (NYSE:GL) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $131.41 and last traded at $130.65, with a volume of 57668 shares changing hands. The stock had previously closed at $129.90.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GL. BMO Capital Markets initiated coverage on Globe Life in a report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price target for the company. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. Wells Fargo & Company raised their price target on shares of Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Morgan Stanley upped their price objective on shares of Globe Life from $125.00 to $126.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group raised their target price on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $135.60.

Globe Life Stock Up 0.4 %

The stock’s 50-day moving average price is $123.18 and its 200-day moving average price is $113.40. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The company has a market cap of $10.86 billion, a P/E ratio of 10.93 and a beta of 0.77.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. As a group, research analysts forecast that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 3rd will be given a dividend of $0.27 per share. This is a boost from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, April 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.83%. Globe Life’s payout ratio is presently 9.04%.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 13,448 shares of Globe Life stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the transaction, the chief executive officer now owns 18,948 shares of the company’s stock, valued at $2,132,786.88. This trade represents a 41.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Matthew Darden sold 24,890 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total value of $3,024,632.80. Following the completion of the transaction, the chief executive officer now owns 38,973 shares in the company, valued at $4,735,998.96. The trade was a 38.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,338 shares of company stock worth $7,239,630. Corporate insiders own 1.51% of the company’s stock.

Institutional Investors Weigh In On Globe Life

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP increased its holdings in Globe Life by 6.8% during the fourth quarter. Wellington Management Group LLP now owns 5,117,122 shares of the company’s stock worth $570,661,000 after buying an additional 326,307 shares during the last quarter. Invesco Ltd. grew its position in shares of Globe Life by 6.0% during the 4th quarter. Invesco Ltd. now owns 3,932,637 shares of the company’s stock valued at $438,568,000 after acquiring an additional 223,282 shares during the period. State Street Corp increased its stake in shares of Globe Life by 3.4% during the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after purchasing an additional 115,432 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Globe Life by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock worth $276,994,000 after purchasing an additional 89,299 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Globe Life by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,592,734 shares of the company’s stock valued at $177,615,000 after purchasing an additional 118,054 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors.

Globe Life Company Profile

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.