Globe Life Inc. (NYSE:GL) CFO Sells $646,012.50 in Stock

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Globe Life Inc. (NYSE:GL) CFO Frank M. Svoboda sold 8,050 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $80.25, for a total value of $646,012.50. Following the sale, the chief financial officer now directly owns 10,000 shares in the company, valued at $802,500. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

NYSE:GL opened at $79.60 on Friday. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $8.47 billion, a PE ratio of 11.71 and a beta of 1.10. Globe Life Inc. has a twelve month low of $56.74 and a twelve month high of $111.43. The stock’s 50-day simple moving average is $75.06 and its 200 day simple moving average is $83.01.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, July 22nd. The company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.53 by $0.12. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Globe Life had a return on equity of 10.60% and a net margin of 15.84%. During the same period last year, the company earned $1.67 earnings per share. On average, analysts anticipate that Globe Life Inc. will post 6.88 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, July 6th were given a $0.1875 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.75 annualized dividend and a yield of 0.94%. Globe Life’s dividend payout ratio is presently 11.11%.

Institutional investors have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. bought a new position in Globe Life in the first quarter valued at about $25,000. HHM Wealth Advisors LLC bought a new position in shares of Globe Life during the first quarter worth about $27,000. Ropes Wealth Advisors LLC bought a new position in shares of Globe Life during the second quarter worth about $33,000. Whittier Trust Co. raised its position in shares of Globe Life by 100.4% during the first quarter. Whittier Trust Co. now owns 477 shares of the company’s stock worth $34,000 after acquiring an additional 239 shares during the last quarter. Finally, Citizens Financial Group Inc RI raised its position in shares of Globe Life by 128.3% during the first quarter. Citizens Financial Group Inc RI now owns 484 shares of the company’s stock worth $35,000 after acquiring an additional 272 shares during the last quarter. Hedge funds and other institutional investors own 74.04% of the company’s stock.

Several research firms have recently issued reports on GL. Piper Sandler reduced their target price on Globe Life from $87.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, July 2nd. ValuEngine lowered Globe Life from a “hold” rating to a “sell” rating in a report on Thursday, April 30th. Morgan Stanley raised their price objective on Globe Life from $78.00 to $80.00 and gave the company an “underweight” rating in a research note on Thursday, July 23rd. Zacks Investment Research lowered Globe Life from a “hold” rating to a “sell” rating and set a $76.00 price objective on the stock. in a research note on Friday, June 26th. Finally, SunTrust Banks reduced their price objective on Globe Life from $108.00 to $79.00 and set a “hold” rating on the stock in a research note on Friday, April 24th. Five research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $84.86.

About Globe Life

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.

Further Reading: Fundamental Analysis and Individual Investors

Insider Buying and Selling by Quarter for Globe Life (NYSE:GL)

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