Globe Life (NYSE:GL) Share Price Crosses Above 200 Day Moving Average - Time to Sell?

Globe Life Inc. (NYSE:GL - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $160.22 and traded as high as $162.09. Globe Life shares last traded at $161.9660, with a volume of 393,081 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GL shares. Keefe, Bruyette & Woods reduced their price objective on shares of Globe Life from $192.00 to $190.00 and set an "outperform" rating on the stock in a research note on Friday, July 24th. Wells Fargo & Company cut their target price on shares of Globe Life from $191.00 to $180.00 and set an "overweight" rating on the stock in a research note on Monday, October 26th. Weiss Ratings raised shares of Globe Life from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, October 21st. Piper Sandler downgraded Globe Life from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $200.00 to $165.00 in a research note on Friday, October 23rd. Finally, TD Cowen lowered their price objective on Globe Life from $225.00 to $215.00 and set a "buy" rating for the company in a report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $181.50.

Globe Life Stock Up 3.0%

The stock's fifty day simple moving average is $166.63 and its two-hundred day simple moving average is $160.22. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.07 and a quick ratio of 0.07. The company has a market capitalization of $12.45 billion, a price-to-earnings ratio of 10.83 and a beta of 0.47.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings results on Wednesday, October 21st. The company reported $4.84 EPS for the quarter, missing the consensus estimate of $4.90 by ($0.06). Globe Life had a net margin of 18.89% and a return on equity of 19.95%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period last year, the firm posted $4.81 earnings per share. The company's quarterly revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts predict that Globe Life Inc. will post 15.48 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 1st. Shareholders of record on Friday, January 8th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, January 8th. Globe Life's payout ratio is presently 8.83%.

Globe Life declared that its Board of Directors has approved a share buyback plan on Monday, August 10th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the company to reacquire up to 17.7% of its shares through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

Insider Activity at Globe Life

In related news, EVP Robert Hensley sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $170.07, for a total transaction of $1,700,700.00. Following the completion of the transaction, the executive vice president owned 12,384 shares in the company, valued at $2,106,146.88. The trade was a 44.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael Majors sold 14,377 shares of the company's stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $154.48, for a total value of $2,220,958.96. Following the transaction, the executive vice president owned 39,141 shares of the company's stock, valued at approximately $6,046,501.68. The trade was a 26.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fulcrum Asset Management LLP purchased a new position in Globe Life in the third quarter valued at about $33,000. Johnson Financial Group Inc. bought a new stake in Globe Life in the second quarter worth approximately $39,000. Jacobi Capital Management LLC bought a new stake in Globe Life in the third quarter worth approximately $50,000. Fortitude Family Office LLC increased its stake in shares of Globe Life by 94.6% during the 3rd quarter. Fortitude Family Office LLC now owns 327 shares of the company's stock worth $54,000 after purchasing an additional 159 shares during the last quarter. Finally, Assetmark Inc. increased its stake in shares of Globe Life by 42.0% during the 2nd quarter. Assetmark Inc. now owns 426 shares of the company's stock worth $76,000 after purchasing an additional 126 shares during the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Globe Life Company Profile

Globe Life Inc is a U.S.-based insurance holding company that provides life and supplemental health insurance through its subsidiaries. Its products include term and whole life insurance, Medicare Supplement insurance, and supplemental health coverage such as accident, cancer, and critical illness policies.

The company distributes insurance through a mix of exclusive agents, independent agents, and direct marketing. Its operating companies include Globe Life and Accident Insurance Company, American Income Life, Liberty National, Family Heritage Life, and United American.

Globe Life traces its roots to 1951, when one of its predecessor businesses was established.

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