Globe Life (NYSE:GL) Hits New 52-Week High on Analyst Upgrade

Globe Life Inc. (NYSE:GL)’s stock price reached a new 52-week high during trading on Monday after Morgan Stanley raised their price target on the stock from $125.00 to $126.00. Morgan Stanley currently has an equal weight rating on the stock. Globe Life traded as high as $131.34 and last traded at $130.30, with a volume of 29665 shares trading hands. The stock had previously closed at $127.43.

Other research analysts have also recently issued reports about the stock. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and increased their price target for the company from $132.00 to $143.00 in a report on Wednesday, January 8th. Wells Fargo & Company lifted their price target on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Jefferies Financial Group upped their price objective on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods lifted their target price on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, BMO Capital Markets began coverage on shares of Globe Life in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $135.60.

Insider Activity at Globe Life

In related news, CEO Frank M. Svoboda sold 11,000 shares of Globe Life stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $122.31, for a total value of $1,345,410.00. Following the transaction, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at $2,317,529.88. This trade represents a 36.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James Matthew Darden sold 24,890 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 38,973 shares of the company’s stock, valued at $4,735,998.96. The trade was a 38.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,678 shares of company stock valued at $8,799,822 over the last quarter. 1.51% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Private Trust Co. NA boosted its stake in shares of Globe Life by 12.5% in the 4th quarter. Private Trust Co. NA now owns 754 shares of the company’s stock valued at $84,000 after purchasing an additional 84 shares in the last quarter. HighPoint Advisor Group LLC boosted its position in Globe Life by 4.0% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,271 shares of the company’s stock valued at $276,000 after buying an additional 87 shares in the last quarter. Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Globe Life by 4.0% during the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company’s stock worth $256,000 after buying an additional 88 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $41,000 after acquiring an additional 90 shares during the last quarter. Finally, New Mexico Educational Retirement Board lifted its stake in shares of Globe Life by 2.4% in the 4th quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company’s stock valued at $472,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Globe Life Stock Performance

The company has a market cap of $10.94 billion, a price-to-earnings ratio of 10.91 and a beta of 0.81. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The company has a fifty day moving average of $118.29 and a two-hundred day moving average of $110.47.

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

Globe Life Increases Dividend

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

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.