Globe Life (NYSE:GL) Reaches New 1-Year High - Here's What Happened

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

Analysts Set New Price Targets

Several analysts have weighed in on the company. BMO Capital Markets initiated coverage on Globe Life in a research note on Thursday, January 23rd. They set a "market perform" rating and a $114.00 target price on the stock. Morgan Stanley boosted their price target 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. Keefe, Bruyette & Woods raised their price objective on shares of Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Evercore ISI raised 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 research note on Wednesday, January 8th. Finally, Wells Fargo & Company lifted their target price on Globe Life from $126.00 to $141.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $135.60.

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Globe Life Trading Down 1.3 %

The company has a fifty day moving average of $123.98 and a 200-day moving average of $113.91. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market capitalization of $10.79 billion, a PE ratio of 10.85 and a beta of 0.77.

Globe Life (NYSE:GL - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share 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%. On average, sell-side analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current fiscal 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 represents a $1.08 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a boost from Globe Life's previous quarterly dividend of $0.24. Globe Life's payout ratio is currently 9.04%.

Insider Transactions at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 11,000 shares of the company's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $122.31, for a total value of $1,345,410.00. Following the sale, the chief executive officer now directly owns 18,948 shares in the company, valued at $2,317,529.88. This 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 at this hyperlink. Also, CMO Jennifer Allison Haworth sold 9,000 shares of the stock in a transaction dated 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. This trade represents a 40.03 % decrease in their position. 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 three months. 1.51% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Globe Life

A number of large investors have recently bought and sold shares of GL. Wellington Management Group LLP raised its holdings in shares of Globe Life by 6.8% in the fourth quarter. Wellington Management Group LLP now owns 5,117,122 shares of the company's stock valued at $570,661,000 after buying an additional 326,307 shares during the last quarter. Invesco Ltd. lifted its position in shares of Globe Life by 6.0% during the fourth quarter. Invesco Ltd. now owns 3,932,637 shares of the company's stock worth $438,568,000 after purchasing an additional 223,282 shares in the last quarter. State Street Corp grew its stake in shares of Globe Life by 3.4% during the third quarter. State Street Corp now owns 3,545,272 shares of the company's stock valued at $375,480,000 after purchasing an additional 115,432 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Globe Life by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company's stock worth $276,994,000 after buying an additional 89,299 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position 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 worth $177,615,000 after purchasing an additional 118,054 shares during the period. 81.61% of the stock is currently owned by institutional investors.

About Globe Life

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.