Insider Buying: Globe Life Inc. (NYSE:GL) Director Acquires 1,500 Shares of Stock

Globe Life Inc. (NYSE:GL) Director David A. Rodriguez purchased 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The stock was acquired at an average price of $79.72 per share, with a total value of $119,580.00. Following the completion of the purchase, the director now owns 4,192 shares in the company, valued at $334,186.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Globe Life Trading Down 2.2 %

GL traded down $1.67 on Friday, reaching $73.87. 3,092,316 shares of the company’s stock were exchanged, compared to its average volume of 2,093,302. The company’s 50 day moving average is $107.65 and its 200-day moving average is $115.54. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market cap of $6.95 billion, a price-to-earnings ratio of 7.21 and a beta of 0.69.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.53 EPS. Equities analysts predict that Globe Life Inc. will post 11.68 earnings per share for the current year.

Globe Life Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be given a $0.24 dividend. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.96 annualized dividend and a dividend yield of 1.30%. Globe Life’s dividend payout ratio (DPR) is presently 9.17%.

Institutional Investors Weigh In On Globe Life

A number of institutional investors have recently made changes to their positions in GL. Lindbrook Capital LLC grew its holdings in shares of Globe Life by 62.2% during the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after purchasing an additional 92 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Globe Life by 4.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,111 shares of the company’s stock worth $230,000 after buying an additional 99 shares in the last quarter. Stonegate Investment Group LLC lifted its stake in shares of Globe Life by 0.3% in the 4th quarter. Stonegate Investment Group LLC now owns 34,123 shares of the company’s stock worth $4,153,000 after acquiring an additional 116 shares during the period. Brown Advisory Inc. boosted its position in Globe Life by 3.0% during the 3rd quarter. Brown Advisory Inc. now owns 4,127 shares of the company’s stock worth $449,000 after acquiring an additional 121 shares during the period. Finally, Tectonic Advisors LLC grew its stake in shares of Globe Life by 5.3% during the fourth quarter. Tectonic Advisors LLC now owns 2,960 shares of the company’s stock worth $360,000 after purchasing an additional 150 shares during the period. 81.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GL has been the topic of a number of analyst reports. Truist Financial dropped their price target on Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday. Wells Fargo & Company dropped their target price on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday. Keefe, Bruyette & Woods upgraded shares of Globe Life from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $130.00 to $110.00 in a research note on Wednesday. Piper Sandler dropped their price objective on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, StockNews.com lowered shares of Globe Life from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.33.

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.