Insider Selling: Globe Life Inc. (NYSE:GL) Director Sells 3,000 Shares of Stock

Globe Life Inc. (NYSE:GL) Director Mark A. Blinn sold 3,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the transaction, the director now owns 5,122 shares in the company, valued at approximately $579,964.06. This trade represents a 36.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Globe Life Trading Up 0.3 %

Shares of NYSE GL traded up $0.36 during midday trading on Tuesday, reaching $111.56. 571,217 shares of the stock were exchanged, compared to its average volume of 667,129. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. The business has a 50-day simple moving average of $108.48 and a two-hundred day simple moving average of $101.39. The company has a market capitalization of $9.36 billion, a price-to-earnings 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, topping 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 business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the business earned $2.71 EPS. Globe Life’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities research analysts expect that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GL shares. Piper Sandler increased their price target on Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Wells Fargo & Company raised their target price on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Truist Financial upped their price target on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Jefferies Financial Group raised their price objective on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Finally, TD Cowen began coverage on shares of Globe Life in a research note on Wednesday, October 9th. They set a “buy” rating and a $150.00 price target on the stock. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Globe Life presently has a consensus rating of “Moderate Buy” and an average target price of $127.10.

Hedge Funds Weigh In On Globe Life

A number of large investors have recently bought and sold shares of the company. Versant Capital Management Inc lifted its position in Globe Life by 388.0% during the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after buying an additional 194 shares in the last quarter. Riverview Trust Co bought a new stake in shares of Globe Life in the 3rd quarter valued at about $32,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of Globe Life by 88.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after buying an additional 281 shares during the last quarter. True Wealth Design LLC acquired a new position in shares of Globe Life in the third quarter valued at $59,000. Finally, Quarry LP grew its stake in Globe Life by 47.5% in the 2nd quarter. Quarry LP now owns 838 shares of the company’s stock valued at $69,000 after buying an additional 270 shares during the last quarter. Institutional investors and hedge funds 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.