Globe Life (NYSE:GL) Reaches New 1-Year High at $93.33

Globe Life Inc. (NYSE:GL) shares hit a new 52-week high on Monday . The stock traded as high as $93.33 and last traded at $93.25, with a volume of 20586 shares traded. The stock had previously closed at $91.68.

Separately, Zacks Investment Research upgraded Globe Life from a “hold” rating to a “buy” rating and set a $99.00 price objective for the company in a research note on Tuesday, September 3rd.

The firm has a market capitalization of $10.16 billion, a P/E ratio of 15.35, a PEG ratio of 1.82 and a beta of 0.95. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.06 and a quick ratio of 0.06.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.02. Globe Life had a return on equity of 12.34% and a net margin of 16.26%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. As a group, research analysts predict that Globe Life Inc. will post 6.73 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be paid a dividend of $0.172 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $0.69 dividend on an annualized basis and a dividend yield of 0.73%. Globe Life’s payout ratio is 11.26%.

In other news, Director Charles E. Adair sold 3,670 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $91.65, for a total transaction of $336,355.50. Following the sale, the director now directly owns 7,699 shares of the company’s stock, valued at approximately $705,613.35. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Vern D. Herbel sold 50,000 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $92.25, for a total transaction of $4,612,500.00. Following the sale, the executive vice president now directly owns 50,000 shares in the company, valued at $4,612,500. The disclosure for this sale can be found here. Insiders have sold a total of 100,820 shares of company stock worth $9,241,936 in the last ninety days. Corporate insiders own 3.64% of the company’s stock.

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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