Globe Life Inc. (NYSE:GL) Director Acquires $119,580.00 in Stock

Globe Life Inc. (NYSE:GL) Director David A. Rodriguez purchased 1,500 shares of the stock in a transaction on Wednesday, April 24th. The shares were purchased at an average cost of $79.72 per share, with a total value of $119,580.00. Following the transaction, the director now owns 4,192 shares in the company, valued at approximately $334,186.24. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Globe Life Price Performance

Shares of Globe Life stock opened at $75.75 on Friday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The business has a 50-day moving average price of $106.65 and a 200 day moving average price of $115.29. The firm has a market cap of $7.12 billion, a PE ratio of 7.23 and a beta of 0.69.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the firm earned $2.53 EPS. Globe Life’s revenue for the quarter was up 7.2% on a year-over-year basis. Sell-side analysts predict that Globe Life Inc. will post 11.73 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a dividend of $0.24 per share. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 1.27%. The ex-dividend date is Thursday, April 4th. Globe Life’s payout ratio is 9.17%.

Institutional Investors Weigh In On Globe Life

Large investors have recently bought and sold shares of the company. Private Trust Co. NA increased its stake in Globe Life by 270.0% during the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after buying an additional 162 shares in the last quarter. Private Wealth Management Group LLC purchased a new stake in Globe Life during the 4th quarter worth approximately $27,000. BKM Wealth Management LLC purchased a new stake in Globe Life during the 4th quarter worth approximately $28,000. Lindbrook Capital LLC increased its stake in Globe Life by 62.2% during the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after buying an additional 92 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Globe Life by 177.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock worth $34,000 after buying an additional 177 shares in the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GL. Wells Fargo & Company lowered their price target on Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a research report on Wednesday. StockNews.com cut Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Evercore ISI lowered their price target on Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research report on Friday, April 12th. Truist Financial decreased their price objective on Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price objective on Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.