Michael Clay Majors Sells 10,000 Shares of Globe Life Inc. (NYSE:GL) Stock

Globe Life Inc. (NYSE:GL) EVP Michael Clay Majors sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $137.41, for a total value of $1,374,100.00. Following the sale, the executive vice president directly owned 47,066 shares of the company’s stock, valued at $6,467,339.06. This represents a 17.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Globe Life Trading Up 1.2%

NYSE:GL opened at $141.22 on Thursday. The firm has a 50-day simple moving average of $124.52 and a 200-day simple moving average of $123.39. Globe Life Inc. has a one year low of $88.75 and a one year high of $144.00. The firm has a market cap of $11.66 billion, a P/E ratio of 11.29 and a beta of 0.56. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $3.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.25 by $0.02. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.50 billion. Globe Life had a net margin of 18.11% and a return on equity of 21.55%. Globe Life’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company posted $2.97 earnings per share. Equities analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on GL shares. JPMorgan Chase & Co. increased their target price on Globe Life from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Truist Financial assumed coverage on shares of Globe Life in a research note on Tuesday, July 15th. They issued a “buy” rating and a $150.00 price target on the stock. Wells Fargo & Company lifted their price objective on shares of Globe Life from $144.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, July 25th. BMO Capital Markets restated a “market perform” rating and issued a $149.00 target price (up from $114.00) on shares of Globe Life in a research note on Wednesday, July 30th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Globe Life from $145.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Globe Life presently has an average rating of “Moderate Buy” and an average target price of $152.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC lifted its stake in shares of Globe Life by 21.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 8,636 shares of the company’s stock worth $963,000 after purchasing an additional 1,507 shares during the last quarter. Franklin Resources Inc. raised its holdings in Globe Life by 35.7% in the fourth quarter. Franklin Resources Inc. now owns 152,157 shares of the company’s stock worth $16,969,000 after purchasing an additional 40,037 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Globe Life by 78.3% during the fourth quarter. National Bank of Canada FI now owns 52,091 shares of the company’s stock valued at $5,809,000 after buying an additional 22,872 shares during the last quarter. World Investment Advisors boosted its holdings in shares of Globe Life by 3.8% in the 4th quarter. World Investment Advisors now owns 5,920 shares of the company’s stock valued at $660,000 after buying an additional 216 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new position in shares of Globe Life in the 4th quarter worth approximately $68,000. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

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.