Globe Life Inc. (NYSE:GL - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $170.11 and last traded at $169.07, with a volume of 509541 shares. The stock had previously closed at $167.39.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on GL shares. Weiss Ratings raised Globe Life from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 13th. Truist Financial upped their price objective on Globe Life from $180.00 to $185.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Morgan Stanley upped their price objective on Globe Life from $176.00 to $181.00 and gave the stock an "overweight" rating in a report on Thursday, May 21st. Keefe, Bruyette & Woods reaffirmed a "moderate buy" rating and set a $168.00 price objective on shares of Globe Life in a report on Thursday, March 26th. Finally, Piper Sandler upped their price objective on Globe Life from $167.00 to $175.00 and gave the stock an "overweight" rating in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $174.11.
Read Our Latest Stock Analysis on GL
Globe Life Stock Up 1.0%
The firm has a market capitalization of $13.13 billion, a PE ratio of 11.69 and a beta of 0.49. The company has a fifty day moving average price of $153.91 and a 200-day moving average price of $145.06. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.07 and a current ratio of 0.07.
Globe Life (NYSE:GL - Get Free Report) last released its earnings results on Wednesday, April 22nd. The company reported $3.43 earnings per share for the quarter, missing the consensus estimate of $3.46 by ($0.03). The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.56 billion. Globe Life had a net margin of 19.38% and a return on equity of 20.94%. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.07 EPS. Globe Life has set its FY 2026 guidance at 15.400-15.90 EPS. As a group, analysts expect that Globe Life Inc. will post 15.64 earnings per share for the current year.
Globe Life Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.32 annualized dividend and a dividend yield of 0.8%. Globe Life's payout ratio is currently 9.13%.
Insider Buying and Selling
In other news, CFO Thomas Peter Kalmbach sold 15,637 shares of the business's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $153.65, for a total transaction of $2,402,625.05. Following the transaction, the chief financial officer owned 45,335 shares of the company's stock, valued at approximately $6,965,722.75. The trade was a 25.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Frank M. Svoboda sold 20,000 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $156.68, for a total value of $3,133,600.00. Following the transaction, the chief executive officer directly owned 54,020 shares in the company, valued at approximately $8,463,853.60. This represents a 27.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 115,929 shares of company stock worth $18,049,250. 2.11% of the stock is owned by company insiders.
Hedge Funds Weigh In On Globe Life
Several large investors have recently modified their holdings of GL. Norges Bank purchased a new stake in shares of Globe Life in the fourth quarter valued at approximately $155,617,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Globe Life by 34,786.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 881,919 shares of the company's stock valued at $123,345,000 after purchasing an additional 879,391 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Globe Life by 98.6% in the second quarter. AQR Capital Management LLC now owns 1,402,690 shares of the company's stock valued at $174,340,000 after purchasing an additional 696,548 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of Globe Life in the third quarter valued at approximately $80,925,000. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Globe Life in the third quarter valued at approximately $61,569,000. Institutional investors own 81.61% of the company's stock.
About Globe Life
(
Get Free Report)
Globe Life, traded on the NYSE under the symbol GL, is a U.S.-based insurance holding company that underwrites and distributes a range of life and supplemental health insurance products. Through its subsidiary brands—Globe Life, American Income Life, Liberty National Life, United American Insurance Company and Family Heritage Life—it offers term life, whole life, fixed annuities and supplemental health coverage designed to meet the needs of individuals and families across various socioeconomic segments.
The company's product suite includes low-cost, easy-to-understand life insurance policies, accidental death and dismemberment coverage, hospital indemnity plans and specified disease insurance.
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