Globe Life (NYSE:GL) Hits New 12-Month High on Analyst Upgrade

Globe Life Inc. (NYSE:GL - Get Free Report)'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. The stock had previously closed at $127.43.

GL has been the topic of a number of other research reports. Jefferies Financial Group increased their price objective on shares of Globe Life from $107.00 to $114.00 and gave the stock a "hold" rating in a research note on Tuesday, December 10th. BMO Capital Markets initiated coverage on shares of Globe Life in a research report on Thursday, January 23rd. They set a "market perform" rating and a $114.00 price target on the stock. Wells Fargo & Company upped their target price on Globe Life from $126.00 to $141.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods increased their target price on Globe Life from $137.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Finally, Evercore ISI raised shares of Globe Life from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Globe Life presently has a consensus rating of "Moderate Buy" and an average price target of $135.60.

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Insider Activity

In other Globe Life news, CEO James Matthew Darden sold 24,890 shares of the firm'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 completion of the sale, the chief executive officer now directly owns 38,973 shares of the company's stock, valued at $4,735,998.96. This trade represents a 38.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frank M. Svoboda sold 13,448 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the transaction, the chief executive officer now directly 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. Insiders sold 61,338 shares of company stock worth $7,239,630 over the last three months. Insiders own 1.51% of the company's stock.

Hedge Funds Weigh In On Globe Life

Institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in shares of Globe Life by 6.8% in the 4th 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 period. Invesco Ltd. grew its position in Globe Life by 6.0% in the fourth quarter. Invesco Ltd. now owns 3,932,637 shares of the company's stock worth $438,568,000 after acquiring an additional 223,282 shares during the period. State Street Corp increased its stake in Globe Life by 3.4% during the third quarter. State Street Corp now owns 3,545,272 shares of the company's stock worth $375,480,000 after acquiring an additional 115,432 shares during the last quarter. Geode Capital Management LLC raised its position in Globe Life by 3.5% in the third quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company's stock valued at $276,994,000 after purchasing an additional 89,299 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Globe Life by 8.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,592,734 shares of the company's stock valued at $177,615,000 after purchasing an additional 118,054 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Trading Down 1.3 %

The business has a fifty day moving average price of $119.25 and a two-hundred day moving average price of $110.99. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $10.44 billion, a PE ratio of 10.42 and a beta of 0.77.

Globe Life (NYSE:GL - Get Free Report) last posted its 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 net margin of 18.53% and a return on equity of 22.32%. Analysts expect that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.87%. This is a boost from Globe Life's previous quarterly dividend of $0.24. The ex-dividend date 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.