Globe Life Inc. (NYSE:GL) CMO Sells $1,016,190.00 in Stock

Globe Life Inc. (NYSE:GL) CMO Jennifer Allison Haworth sold 9,000 shares of Globe Life stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the transaction, the chief marketing officer now directly owns 13,485 shares in the company, valued at approximately $1,522,591.35. This trade represents a 40.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Globe Life Stock Performance

Shares of Globe Life stock traded up $0.36 during trading hours on Tuesday, reaching $111.56. The company’s stock had a trading volume of 571,217 shares, compared to its average volume of 667,129. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. The company’s 50 day simple moving average is $108.48 and its 200 day simple moving average is $101.39. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The stock has a market cap of $9.36 billion, a P/E ratio of 9.44 and a beta of 0.80.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the business posted $2.71 earnings per share. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, analysts expect that Globe Life Inc. will post 12.31 EPS for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, January 6th. This represents a $0.96 annualized dividend and a dividend yield of 0.86%. Globe Life’s dividend payout ratio is presently 8.12%.

Analysts Set New Price Targets

GL has been the subject of several recent research reports. Piper Sandler increased their price target on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Truist Financial increased their target price on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods boosted their price target on Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. TD Cowen assumed coverage on shares of Globe Life in a research report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 price objective for the company. Finally, Morgan Stanley upped their target price on shares of Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $127.10.

Hedge Funds Weigh In On Globe Life

A number of institutional investors and hedge funds have recently bought and sold shares of GL. Versant Capital Management Inc raised its holdings in shares of Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after purchasing an additional 194 shares in the last quarter. Riverview Trust Co bought a new position in shares of Globe Life in the third quarter valued at $32,000. True Wealth Design LLC acquired a new stake in shares of Globe Life during the 3rd quarter valued at $59,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Globe Life by 88.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after acquiring an additional 281 shares in the last quarter. Finally, Private Trust Co. NA boosted its stake in shares of Globe Life by 67.5% during the 3rd quarter. Private Trust Co. NA now owns 670 shares of the company’s stock worth $71,000 after acquiring an additional 270 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.

Globe Life Company Profile

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.