Globe Life Inc. (NYSE:GL) CEO Purchases $169,640.00 in Stock

Globe Life Inc. (NYSE:GL) CEO James Matthew Darden purchased 2,000 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were bought at an average price of $84.82 per share, with a total value of $169,640.00. Following the purchase, the chief executive officer now directly owns 37,973 shares in the company, valued at approximately $3,220,869.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Globe Life Trading Up 2.7 %

Shares of GL stock opened at $85.62 on Thursday. The company’s fifty day simple moving average is $91.42 and its two-hundred day simple moving average is $111.51. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 8.18 and a beta of 0.78.

Globe Life (NYSE:GL) last issued its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Globe Life had a net margin of 18.07% and a return on equity of 23.01%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the firm earned $2.53 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. As a group, analysts anticipate that Globe Life Inc. will post 11.72 earnings per share for the current year.

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $0.96 dividend on an annualized basis and a yield of 1.12%. Globe Life’s payout ratio is 9.17%.

Institutional Investors Weigh In On Globe Life

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Private Trust Co. NA grew its position in shares of Globe Life by 270.0% during the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after purchasing an additional 162 shares in the last quarter. Private Wealth Management Group LLC purchased a new position in shares of Globe Life during the 4th quarter valued at $27,000. BKM Wealth Management LLC purchased a new position in shares of Globe Life during the 4th quarter valued at $28,000. Lindbrook Capital LLC grew its position in shares of Globe Life by 62.2% during the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after purchasing an additional 92 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in Globe Life by 177.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock worth $34,000 after acquiring an additional 177 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.

Analysts Set New Price Targets

GL has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised shares of Globe Life from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $130.00 to $110.00 in a research report on Wednesday, April 24th. Raymond James reissued a “strong-buy” rating on shares of Globe Life in a research report on Tuesday. Truist Financial dropped their target price on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. StockNews.com cut shares of Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Finally, Piper Sandler dropped their target price on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.