Globe Life (NYSE:GL) Reaches New 12-Month High - Here's What Happened

Globe Life Inc. (NYSE:GL - Get Free Report)'s stock price reached 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.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Globe Life from $137.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Morgan Stanley boosted their price objective on Globe Life from $125.00 to $126.00 and gave the company an "equal weight" rating in a research note on Friday, February 28th. BMO Capital Markets started coverage on Globe Life in a research note on Thursday, January 23rd. They set a "market perform" rating and a $114.00 target price for the company. JPMorgan Chase & Co. boosted their price target on Globe Life from $136.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Jefferies Financial Group lifted their price objective on shares of Globe Life from $107.00 to $114.00 and gave the company a "hold" rating in a research note on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $138.45.

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Globe Life Trading Down 8.0 %

The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $9.76 billion, a P/E ratio of 9.82 and a beta of 0.60. The firm's 50-day moving average price is $124.89 and its 200 day moving average price is $114.76.

Globe Life (NYSE:GL - Get Free Report) last posted its 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 return on equity of 22.32% and a net margin of 18.53%. As a group, equities research analysts predict that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.92%. This is an increase from Globe Life's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, April 3rd. Globe Life's dividend payout ratio (DPR) is presently 9.04%.

Insider Buying and Selling

In other news, CEO James Matthew Darden sold 24,890 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the completion of the sale, the chief executive officer now owns 38,973 shares in the company, valued at $4,735,998.96. This trade represents a 38.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Frank M. Svoboda sold 13,448 shares of the company's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $112.56, for a total value of $1,513,706.88. Following the completion of the transaction, the chief executive officer now owns 18,948 shares in the company, valued at approximately $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 three months, insiders have sold 61,338 shares of company stock worth $7,239,630. 1.51% of the stock is owned by company insiders.

Institutional Trading of Globe Life

Hedge funds have recently made changes to their positions in the company. Private Trust Co. NA raised its position in shares of Globe Life by 12.5% in the fourth quarter. Private Trust Co. NA now owns 754 shares of the company's stock valued at $84,000 after purchasing an additional 84 shares during the period. HighPoint Advisor Group LLC raised its holdings in Globe Life by 4.0% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,271 shares of the company's stock valued at $276,000 after acquiring an additional 87 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its position 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 acquiring an additional 88 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Globe Life by 32.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company's stock worth $41,000 after acquiring an additional 90 shares in the last quarter. Finally, New Mexico Educational Retirement Board boosted its holdings in shares of Globe Life by 2.4% in the fourth quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company's stock worth $472,000 after acquiring an additional 100 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.