Insider Selling: Globe Life Inc. (NYSE:GL) EVP Sells 2,320 Shares of Stock

Globe Life Inc. (NYSE:GL) EVP Rebecca E. Zorn sold 2,320 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the completion of the transaction, the executive vice president now owns 10,220 shares of the company’s stock, valued at approximately $790,006. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Globe Life Price Performance

Globe Life stock traded down $1.67 during midday trading on Friday, reaching $73.87. The company’s stock had a trading volume of 3,092,316 shares, compared to its average volume of 2,093,302. The stock’s 50 day simple moving average is $107.65 and its 200 day simple moving average is $115.54. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a market capitalization of $6.95 billion, a PE ratio of 7.21 and a beta of 0.69.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the firm earned $2.53 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities research analysts forecast that Globe Life Inc. will post 11.68 earnings per share for the current year.

Globe Life Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given a dividend of $0.24 per share. This is a boost from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Thursday, April 4th. Globe Life’s payout ratio is presently 9.17%.

Hedge Funds Weigh In On Globe Life

Institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC boosted its holdings in shares of Globe Life by 11.4% in the third quarter. CWM LLC now owns 1,527 shares of the company’s stock valued at $166,000 after acquiring an additional 156 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in Globe Life during the 3rd quarter worth $625,000. Czech National Bank boosted its holdings in Globe Life by 44.5% in the 3rd quarter. Czech National Bank now owns 15,197 shares of the company’s stock valued at $1,652,000 after purchasing an additional 4,677 shares during the period. Asset Management One Co. Ltd. increased its stake in Globe Life by 1.3% during the third quarter. Asset Management One Co. Ltd. now owns 37,304 shares of the company’s stock valued at $4,056,000 after acquiring an additional 476 shares during the period. Finally, Handelsbanken Fonder AB lifted its position in Globe Life by 7.8% in the third quarter. Handelsbanken Fonder AB now owns 48,958 shares of the company’s stock worth $5,323,000 after purchasing an additional 3,543 shares during the period. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on GL. JPMorgan Chase & Co. lifted their price target on shares of Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Keefe, Bruyette & Woods raised shares of Globe Life from a “market perform” rating to an “outperform” rating and cut their target price for the company from $130.00 to $110.00 in a report on Wednesday. Truist Financial lowered their price objective on Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday. Piper Sandler reduced their price target on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, StockNews.com downgraded shares of Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Globe Life currently has an average rating of “Moderate Buy” and an average price target of $114.33.

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.