Globe Life (NYSE:GL) Hits New 12-Month High at $104.00

Globe Life Inc. (NYSE:GL)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $104.00 and last traded at $103.69, with a volume of 13736 shares traded. The stock had previously closed at $103.30.

A number of brokerages have recently issued reports on GL. Zacks Investment Research upgraded shares of Globe Life from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a research report on Tuesday, September 3rd. Credit Suisse Group began coverage on shares of Globe Life in a research report on Friday, September 20th. They set an “outperform” rating and a $114.00 price objective for the company. ValuEngine raised shares of Globe Life from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, UBS Group dropped their target price on shares of Globe Life from $85.00 to $84.00 and set a “sell” rating on the stock in a report on Thursday, October 10th.

The firm has a market capitalization of $11.19 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average price is $99.04.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, October 23rd. The company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.69 by $0.04. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Globe Life had a return on equity of 11.61% and a net margin of 16.57%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.59 earnings per share. On average, research analysts anticipate that Globe Life Inc. will post 6.77 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.172 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Thursday, January 2nd. Globe Life’s payout ratio is 11.26%.

In other news, insider Steven John Dichiaro sold 18,500 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $98.13, for a total transaction of $1,815,405.00. Also, CAO Michael Shane Henrie sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $99.41, for a total value of $99,410.00. Following the completion of the sale, the chief accounting officer now owns 1,000 shares of the company’s stock, valued at $99,410. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 132,169 shares of company stock valued at $13,086,963. Insiders own 3.64% of the company’s stock.

A number of institutional investors have recently modified their holdings of GL. State Street Corp bought a new position in Globe Life in the third quarter worth approximately $505,144,000. Boston Partners acquired a new stake in Globe Life in the third quarter valued at approximately $138,276,000. California Public Employees Retirement System acquired a new stake in Globe Life in the third quarter valued at approximately $88,278,000. SPF Beheer BV bought a new stake in shares of Globe Life during the third quarter valued at approximately $85,160,000. Finally, PGGM Investments bought a new stake in shares of Globe Life during the third quarter valued at approximately $50,205,000. 74.90% of the stock is owned by institutional investors and hedge funds.

About Globe Life (NYSE:GL)

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.

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