Globe Life (NYSE:GL) Sets New 1-Year High – Should You Buy?

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

Analyst Upgrades and Downgrades

Several research firms have commented on GL. Wells Fargo & Company lifted their price objective on shares of Globe Life from $126.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Morgan Stanley upped their price target on shares of Globe Life from $125.00 to $126.00 and gave the company an “equal weight” rating in a 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 stock an “outperform” rating in a research note on Wednesday, February 12th. 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 price target on the stock. Finally, Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. Five investment 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.60.

Globe Life Price Performance

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’s 50-day moving average price is $123.76 and its two-hundred day moving average price is $113.65. The stock has a market cap of $10.95 billion, a PE ratio of 11.00 and a beta of 0.77.

Globe Life (NYSE:GL) last announced 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%. On average, equities analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.27 per share. This is a positive change from Globe Life’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.82%. Globe Life’s payout ratio is presently 9.04%.

Insiders Place Their Bets

In other news, CEO Frank M. Svoboda sold 11,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 18,948 shares in the company, valued at $2,317,529.88. This trade represents a 36.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James Matthew Darden sold 24,890 shares of the 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 completion of the transaction, the chief executive officer now owns 38,973 shares in the company, valued at approximately $4,735,998.96. This trade represents a 38.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,338 shares of company stock valued at $7,239,630. Insiders own 1.51% of the company’s stock.

Institutional Investors Weigh In On Globe Life

Hedge funds have recently added to or reduced their stakes in the business. Private Trust Co. NA grew its stake in shares of Globe Life by 12.5% during the 4th quarter. Private Trust Co. NA now owns 754 shares of the company’s stock worth $84,000 after purchasing an additional 84 shares during the period. HighPoint Advisor Group LLC increased its holdings in Globe Life by 4.0% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,271 shares of the company’s stock valued at $276,000 after buying an additional 87 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its position in shares of Globe Life by 4.0% in 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 during the period. EverSource Wealth Advisors LLC boosted its stake 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 acquiring an additional 90 shares in the last quarter. Finally, New Mexico Educational Retirement Board grew its position in shares of Globe Life by 2.4% during the 4th quarter. New Mexico Educational Retirement Board now owns 4,233 shares of the company’s stock valued at $472,000 after acquiring an additional 100 shares during the period. 81.61% of the stock is owned by hedge funds and other 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.