Globe Life (NYSE:GL) Reaches New 1-Year High – Time to Buy?

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Morgan Stanley upped their price objective on Globe Life from $125.00 to $126.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. BMO Capital Markets started coverage on Globe Life in a report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 target price on the stock. Jefferies Financial Group upped their price target on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company lifted their price objective on Globe Life from $126.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $135.60.

Globe Life Trading Up 1.6 %

The firm has a market cap of $10.97 billion, a price-to-earnings ratio of 11.03 and a beta of 0.77. The business has a 50 day moving average price of $124.25 and a 200-day moving average price of $114.21. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, topping 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 expect that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Thursday, April 3rd. Globe Life’s dividend payout ratio is presently 9.04%.

Insider Transactions at Globe Life

In other Globe Life news, Director Mark A. Blinn sold 3,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the transaction, the director now directly owns 5,122 shares of the company’s stock, valued at $579,964.06. This trade represents a 36.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frank M. Svoboda sold 13,448 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the completion of the sale, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at $2,132,786.88. The trade was a 41.51 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,338 shares of company stock valued at $7,239,630. 1.51% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Globe Life

Hedge funds have recently bought and sold shares of the company. Thrivent Financial for Lutherans grew its position in shares of Globe Life by 4.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company’s stock worth $373,000 after acquiring an additional 136 shares in the last quarter. Bank of Montreal Can lifted its stake in Globe Life by 18.4% during the third quarter. Bank of Montreal Can now owns 95,559 shares of the company’s stock worth $9,976,000 after purchasing an additional 14,865 shares during the last quarter. Townsquare Capital LLC boosted its holdings in Globe Life by 7.6% in the third quarter. Townsquare Capital LLC now owns 3,598 shares of the company’s stock worth $381,000 after purchasing an additional 253 shares during the period. Glenmede Trust Co. NA increased its stake in Globe Life by 7.5% during the third quarter. Glenmede Trust Co. NA now owns 6,428 shares of the company’s stock valued at $681,000 after purchasing an additional 447 shares during the last quarter. Finally, MetLife Investment Management LLC raised its holdings in shares of Globe Life by 3.5% during the third quarter. MetLife Investment Management LLC now owns 23,334 shares of the company’s stock worth $2,471,000 after purchasing an additional 785 shares during the period. 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.