Globe Life (NYSE:GL) Reaches New 52-Week High at $103.62

Shares of Globe Life Inc. (NYSE:GL) hit a new 52-week high during trading on Monday . The stock traded as high as $103.62 and last traded at $103.19, with a volume of 66166 shares. The stock had previously closed at $102.76.

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

The company has a market cap of $11.13 billion, a P/E ratio of 16.87, a P/E/G ratio of 1.88 and a beta of 0.96. The stock has a 50-day simple moving average of $97.94. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.05 and a quick ratio of 0.05.

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

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 3rd will be issued a dividend of $0.172 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.69 annualized dividend and a yield of 0.67%. Globe Life’s payout ratio is 11.26%.

In related news, insider Bill Leavell sold 20,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $98.93, for a total transaction of $1,978,600.00. Also, insider Steven John Dichiaro sold 18,500 shares of the company’s 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. Insiders have sold a total of 132,169 shares of company stock worth $13,086,963 over the last quarter. 3.64% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in GL. CENTRAL TRUST Co purchased a new stake in Globe Life during the third quarter worth $29,000. Steward Partners Investment Advisory LLC purchased a new stake in Globe Life during the third quarter worth $33,000. FinTrust Capital Advisors LLC purchased a new stake in Globe Life during the third quarter worth $36,000. Sandy Spring Bank purchased a new stake in Globe Life during the third quarter worth $36,000. Finally, CWM LLC purchased a new stake in Globe Life during the third quarter worth $43,000. 73.53% of the stock is owned by institutional investors.

Globe Life Company Profile (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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