Globe Life (NYSE:GL) Sets New 52-Week High – Here’s What Happened

Shares of Globe Life Inc. (NYSE:GL) hit a new 52-week high during trading on Tuesday . The company traded as high as $132.50 and last traded at $131.83, with a volume of 607245 shares trading hands. The stock had previously closed at $129.77.

Analysts Set New Price Targets

Several equities analysts have recently commented on GL shares. Keefe, Bruyette & Woods upped their target price on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Wells Fargo & Company upped their price objective on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. BMO Capital Markets began coverage on Globe Life in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 target price on the stock. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Finally, Morgan Stanley increased their price objective on shares of Globe Life from $125.00 to $126.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $135.60.

Globe Life Stock Up 1.6 %

The stock has a market cap of $10.97 billion, a P/E ratio of 11.03 and a beta of 0.77. 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 stock’s 50-day moving average is $124.25 and its 200-day moving average is $114.21.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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 anticipate that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, April 3rd. This is a boost from Globe Life’s previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a dividend yield of 0.82%. Globe Life’s dividend payout ratio (DPR) is 9.04%.

Insider Activity

In related news, Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the sale, the director now directly owns 5,122 shares in the company, valued at $579,964.06. The trade was a 36.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the sale, the chief marketing officer now owns 13,485 shares of the company’s stock, valued at $1,522,591.35. The trade was a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,338 shares of company stock worth $7,239,630 over the last 90 days. 1.51% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Globe Life

A number of hedge funds have recently modified their holdings of GL. 111 Capital purchased a new stake in shares of Globe Life during the fourth quarter valued at $242,000. Wealth Enhancement Advisory Services LLC raised its holdings in Globe Life by 5.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 20,938 shares of the company’s stock worth $2,335,000 after buying an additional 1,159 shares during the period. Campbell Deegan Wealth Management LLC purchased a new stake in Globe Life during the fourth quarter valued at about $246,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Globe Life in the fourth quarter worth about $8,384,000. Finally, Jefferies Financial Group Inc. purchased a new position in shares of Globe Life in the fourth quarter worth approximately $5,089,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.

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.