Globe Life Inc. (NYSE:GL) CEO Sells $737,387.69 in Stock

Globe Life Inc. (NYSE:GL) CEO Frank M. Svoboda sold 6,019 shares of the business’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $122.51, for a total transaction of $737,387.69. Following the completion of the sale, the chief executive officer now owns 31,298 shares in the company, valued at approximately $3,834,317.98. The trade was a 16.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Globe Life Price Performance

NYSE:GL opened at $119.48 on Friday. The firm has a market capitalization of $9.86 billion, a price-to-earnings ratio of 10.00 and a beta of 0.56. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The business has a 50 day simple moving average of $122.93 and a 200-day simple moving average of $118.02. Globe Life Inc. has a 1 year low of $76.55 and a 1 year high of $133.76.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, April 30th. The company reported $3.07 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.17). Globe Life had a net margin of 18.53% and a return on equity of 22.32%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the firm posted $2.78 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities analysts forecast that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Thursday, July 3rd. Globe Life’s dividend payout ratio (DPR) is 8.79%.

Institutional Investors Weigh In On Globe Life

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Albion Financial Group UT purchased a new stake in shares of Globe Life in the fourth quarter worth approximately $28,000. Rakuten Securities Inc. purchased a new position in Globe Life during the 4th quarter valued at $28,000. Avalon Trust Co bought a new position in Globe Life in the 4th quarter valued at $41,000. EverSource Wealth Advisors LLC grew its position in Globe Life by 32.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $41,000 after acquiring an additional 90 shares during the last quarter. Finally, SouthState Corp purchased a new stake in Globe Life in the first quarter worth $43,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Analysts Set New Price Targets

GL has been the topic of several research reports. Wells Fargo & Company reduced their target price on Globe Life from $140.00 to $139.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Keefe, Bruyette & Woods raised their price target on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Piper Sandler reduced their price objective on Globe Life from $152.00 to $147.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. BMO Capital Markets started coverage on Globe Life in a report on Thursday, January 23rd. They set a “market perform” rating and a $114.00 price objective on the stock. Finally, Morgan Stanley raised their target price on shares of Globe Life from $117.00 to $125.00 and gave the company an “equal weight” rating in a report on Monday. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Globe Life presently has a consensus rating of “Moderate Buy” and an average price target of $137.73.

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.