Globe Life (NYSE:GL) Sets New 1-Year High Following Analyst Upgrade

Shares of Globe Life Inc. (NYSE:GL) hit 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 traded. The stock had previously closed at $127.43.

Other equities analysts have also issued reports about the company. Evercore ISI upgraded 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 report on Wednesday, January 8th. Jefferies Financial Group boosted their target price on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. BMO Capital Markets started coverage on Globe Life in a research report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 target price for the company. Keefe, Bruyette & Woods boosted their target price on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company boosted their target price on Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $135.60.

Insider Activity at Globe Life

In other news, CEO James Matthew Darden sold 24,890 shares of the company’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 transaction of $3,024,632.80. Following the sale, the chief executive officer now owns 38,973 shares in the company, valued at $4,735,998.96. This represents a 38.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Frank M. Svoboda sold 13,448 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $112.56, for a total value of $1,513,706.88. Following the sale, the chief executive officer now owns 18,948 shares in the company, valued at approximately $2,132,786.88. This represents a 41.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 61,338 shares of company stock worth $7,239,630. 1.51% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc increased its holdings in shares of Globe Life by 388.0% during the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after acquiring an additional 194 shares during the last quarter. Rakuten Securities Inc. acquired a new stake in shares of Globe Life during the 4th quarter worth $28,000. Albion Financial Group UT acquired a new stake in shares of Globe Life during the 4th quarter worth $28,000. Avalon Trust Co acquired a new stake in shares of Globe Life during the 4th quarter worth $41,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Globe Life by 32.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $41,000 after purchasing an additional 90 shares in the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Globe Life Trading Down 3.4 %

The company has a market capitalization of $10.41 billion, a price-to-earnings ratio of 10.39 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 firm has a fifty day moving average price of $118.93 and a 200-day moving average price of $110.89.

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

Globe Life Increases Dividend

The firm also recently disclosed 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 an increase from Globe Life’s previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Thursday, April 3rd. Globe Life’s dividend payout ratio is currently 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.