Globe Life (NYSE:GL) Reaches New 52-Week High - What's Next?

Key Points

• Globe Life Inc. shares reached a new 52-week high, trading at $144.02, following positive analyst ratings including a "moderate buy" from Cfra Research and upgrades from Morgan Stanley and Wells Fargo.
• The company recently announced a quarterly dividend of $0.27 per share, resulting in a yield of 0.7%, and has a projected earnings per share for FY 2025 between $14.250 and $14.650.
• In insider trading, CFO Thomas Peter Kalmbach and CEO Frank M. Svoboda sold significant shares of the company's stock, indicating a shift in their positions.

Globe Life Inc. (NYSE:GL - Get Free Report)'s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $144.02 and last traded at $143.79, with a volume of 22053 shares changing hands. The stock had previously closed at $142.80.

Analyst Ratings Changes

GL has been the subject of several research analyst reports. Cfra Research raised shares of Globe Life to a "moderate buy" rating in a research report on Friday, July 25th. Wells Fargo & Company increased their price objective on shares of Globe Life from $144.00 to $150.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. BMO Capital Markets reissued a "market perform" rating and set a $149.00 price target (up from $114.00) on shares of Globe Life in a research report on Wednesday, July 30th. Truist Financial initiated coverage on shares of Globe Life in a research report on Tuesday, July 15th. They set a "buy" rating and a $150.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price target on shares of Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. One 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $152.45.

Globe Life Stock Performance

The firm's fifty day moving average price is $136.78 and its two-hundred day moving average price is $127.34. The stock has a market capitalization of $11.77 billion, a PE ratio of 11.62 and a beta of 0.56. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.43.

Globe Life (NYSE:GL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.25 by $0.02. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter last year, the company earned $2.97 EPS. The firm's revenue for the quarter 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 research analysts forecast that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 0.7%. Globe Life's dividend payout ratio (DPR) is currently 8.63%.

Insider Buying and Selling at Globe Life

In other news, CEO Frank M. Svoboda sold 12,500 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $141.38, for a total transaction of $1,767,250.00. Following the transaction, the chief executive officer owned 32,747 shares of the company's stock, valued at approximately $4,629,770.86. The trade was a 27.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael Clay Majors sold 10,000 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $137.41, for a total transaction of $1,374,100.00. Following the transaction, the executive vice president directly owned 47,066 shares in the company, valued at approximately $6,467,339.06. The trade was a 17.52% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 84,722 shares of company stock worth $11,733,793. Company insiders own 1.97% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its position in Globe Life by 4.1% in the first quarter. Principal Financial Group Inc. now owns 101,679 shares of the company's stock valued at $13,393,000 after buying an additional 3,960 shares during the last quarter. DAVENPORT & Co LLC acquired a new position in Globe Life in the first quarter valued at about $493,000. Atlas Capital Advisors Inc. acquired a new position in Globe Life in the first quarter valued at about $893,000. Sequoia Financial Advisors LLC lifted its position in Globe Life by 693.4% in the first quarter. Sequoia Financial Advisors LLC now owns 24,184 shares of the company's stock valued at $3,185,000 after buying an additional 21,136 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Globe Life by 8.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,711 shares of the company's stock valued at $1,260,000 after buying an additional 723 shares during the last quarter. 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.