Globe Life (NYSE:GL) Stock Price Breaks Above 200 Day Moving Average – Here’s Why

Globe Life Inc. (NYSE:GL) shares crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $159.54 and traded as high as $162.05. Globe Life shares last traded at $160.57, with a volume of 641,646 shares traded.

Wall Street Analyst Weigh In

GL has been the subject of a number of recent research reports. UBS Group set a $165.00 target price on shares of Globe Life in a research report on Friday, October 23rd. Wells Fargo & Company dropped their price target on shares of Globe Life from $191.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday, October 26th. Keefe, Bruyette & Woods reduced their price target on Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, July 24th. Jefferies Financial Group raised their price objective on Globe Life from $147.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Finally, Morgan Stanley dropped their price objective on Globe Life from $208.00 to $197.00 and set an “overweight” rating for the company in a report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $181.50.

Globe Life Trading Down 0.9%

The firm’s 50-day simple moving average is $168.30 and its 200 day simple moving average is $159.62. 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 firm has a market capitalization of $12.22 billion, a price-to-earnings ratio of 10.63 and a beta of 0.44.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, October 21st. The company reported $4.84 earnings per share for the quarter, missing analysts’ consensus estimates 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 in the prior year, the business posted $4.81 EPS. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts expect that Globe Life Inc. will post 15.48 earnings per share for the current year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Monday, October 5th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, October 5th. Globe Life’s dividend payout ratio (DPR) is presently 8.83%.

Globe Life announced that its board has authorized a share repurchase plan on Monday, August 10th that authorizes the company to buy back $2.50 billion in shares. This repurchase authorization authorizes the company to buy up to 17.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Globe Life

In other Globe Life news, EVP Michael Majors sold 14,377 shares of the firm’s stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $154.48, for a total value of $2,220,958.96. Following the sale, the executive vice president owned 39,141 shares in the company, valued at $6,046,501.68. This trade represents a 26.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Robert Hensley sold 10,000 shares of the business’s stock in a transaction 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 sale, the executive vice president directly owned 12,384 shares in the company, valued at approximately $2,106,146.88. The trade was a 44.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.11% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GL. Mather Group LLC. increased its position in Globe Life by 9.5% during the third quarter. Mather Group LLC. now owns 773 shares of the company’s stock valued at $128,000 after acquiring an additional 67 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Globe Life by 2.7% in the second quarter. NewEdge Advisors LLC now owns 2,562 shares of the company’s stock valued at $458,000 after acquiring an additional 68 shares during the period. Root Financial Partners LLC lifted its holdings in shares of Globe Life by 23.3% in the 1st quarter. Root Financial Partners LLC now owns 439 shares of the company’s stock worth $61,000 after acquiring an additional 83 shares during the last quarter. Empirical Finance LLC lifted its holdings in shares of Globe Life by 2.8% in the 2nd quarter. Empirical Finance LLC now owns 3,228 shares of the company’s stock worth $577,000 after acquiring an additional 87 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Globe Life by 4.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,366 shares of the company’s stock worth $329,000 after acquiring an additional 91 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors.

Globe Life Company Profile

Globe Life Inc (NYSE: GL) is an insurance holding company that provides individual life and supplemental health insurance products through a network of wholly owned subsidiaries. Its offerings are designed primarily for middle-income households and include term and whole life insurance, mortgage protection coverage, accident and supplemental health insurance, Medicare supplement policies, and annuities.

The company markets its products through several distribution channels, including exclusive and independent agency networks, direct-to-consumer sales, and workplace or union-affiliated programs.