Globe Life Inc. (NYSE:GL) CEO Sells $1,513,706.88 in Stock

Globe Life Inc. (NYSE:GL) CEO Frank M. Svoboda sold 13,448 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $112.56, for a total value of $1,513,706.88. Following the completion of the sale, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at $2,132,786.88. The trade was a 41.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Globe Life Stock Up 2.4 %

Shares of GL stock opened at $114.19 on Thursday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The stock has a 50 day moving average of $108.72 and a 200 day moving average of $101.68. The stock has a market cap of $9.59 billion, a P/E ratio of 9.66 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 the consensus estimate of $3.06 by $0.43. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.71 EPS. As a group, sell-side analysts expect that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Announces Dividend

The firm also recently announced 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. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s dividend payout ratio (DPR) is presently 8.12%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. TD Cowen began coverage on Globe Life in a research note on Wednesday, October 9th. They set a “buy” rating and a $150.00 price target on the stock. Morgan Stanley upped their price target 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. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $132.00 to $143.00 in a research note on Wednesday. Truist Financial upped their target price on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods lifted 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. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $132.80.

Hedge Funds Weigh In On Globe Life

A number of large investors have recently bought and sold shares of the business. State Street Corp increased its position in shares of Globe Life by 3.4% in the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after buying an additional 115,432 shares in the last quarter. Geode Capital Management LLC increased its holdings in Globe Life by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock worth $276,994,000 after acquiring an additional 89,299 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Globe Life by 22.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock worth $160,949,000 after acquiring an additional 277,108 shares during the period. Millennium Management LLC lifted its holdings in Globe Life by 177.0% during the second quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock valued at $105,303,000 after purchasing an additional 817,760 shares in the last quarter. Finally, Nuance Investments LLC grew its position in shares of Globe Life by 155.6% in the third quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock valued at $120,629,000 after purchasing an additional 693,346 shares during the period. 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.