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

Key Points

• Globe Life Inc. shares reached a new 52-week high of $147.83 during mid-day trading, closing at $146.42 with a trading volume of 509,559 shares.
• Analysts have given Globe Life an average consensus rating of "Moderate Buy" with an average price target of $152.45.
• The company recently announced a quarterly dividend of $0.27 per share, to be paid on October 31st, with a dividend yield of 0.7%.

Globe Life Inc. (NYSE:GL - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $147.83 and last traded at $146.42, with a volume of 509559 shares trading hands. The stock had previously closed at $145.25.

Analyst Ratings Changes

A number of research firms recently issued reports on GL. Truist Financial began coverage on Globe Life in a research report on Tuesday, July 15th. They set a "buy" rating and a $150.00 price objective for the company. Keefe, Bruyette & Woods lifted their price objective on Globe Life from $145.00 to $155.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. BMO Capital Markets reissued a "market perform" rating and set a $149.00 price objective (up previously from $114.00) on shares of Globe Life in a research report on Wednesday, July 30th. JPMorgan Chase & Co. lifted their price objective on Globe Life from $145.00 to $160.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Cfra Research raised Globe Life to a "moderate buy" rating in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $152.45.

Globe Life Stock Up 0.8%

The business has a 50-day simple moving average of $137.84 and a two-hundred day simple moving average of $127.61. The company has a market cap of $11.86 billion, a price-to-earnings ratio of 11.70 and a beta of 0.56. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.43.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share for the quarter, topping analysts' consensus estimates of $3.25 by $0.02. Globe Life had a return on equity of 21.24% and a net margin of 18.11%.The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter in the previous year, the firm earned $2.97 earnings per share. The business's quarterly revenue was up 2.9% compared to the same quarter last year. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. As a group, equities analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, October 3rd. Globe Life's payout ratio is currently 8.63%.

Insiders Place Their Bets

In related news, CEO James Matthew Darden sold 33,270 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $135.59, for a total transaction of $4,511,079.30. Following the completion of the transaction, the chief executive officer owned 49,842 shares of the company's stock, valued at approximately $6,758,076.78. The trade was a 40.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $140.97, for a total value of $4,081,363.44. Following the transaction, the chief financial officer directly owned 30,665 shares of the company's stock, valued at $4,322,845.05. This represents a 48.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,722 shares of company stock worth $11,733,793 over the last quarter. 1.97% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Globe Life

Several large investors have recently made changes to their positions in GL. Pinnacle Wealth Planning Services Inc. increased its stake in Globe Life by 4.0% during the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company's stock valued at $256,000 after acquiring an additional 88 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Globe Life during the fourth quarter valued at about $8,384,000. Campbell Deegan Wealth Management LLC bought a new position in Globe Life during the fourth quarter valued at about $246,000. Wealth Enhancement Advisory Services LLC increased its stake in Globe Life by 5.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 20,938 shares of the company's stock valued at $2,335,000 after acquiring an additional 1,159 shares during the period. Finally, 111 Capital bought a new position in Globe Life during the fourth quarter valued at about $242,000. Institutional investors and hedge funds own 81.61% of the company's stock.

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.

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