Globe Life (NYSE:GL) Stock: Insider Michael Clay Majors Sells 14,377 Shares

Globe Life Inc. (NYSE:GL) EVP Michael Majors sold 14,377 shares of the company’s stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $154.48, for a total value of $2,220,958.96. Following the completion of the sale, the executive vice president owned 39,141 shares in the company, valued at $6,046,501.68. This represents a 26.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Michael Clay Majors also recently made the following trade(s):

• On Wednesday, July 29th, Michael Majors sold 37,000 shares of Globe Life stock. The shares were sold at an average price of $178.64, for a total value of $6,609,680.00.

Globe Life Price Performance

Globe Life stock traded up $2.08 during midday trading on Monday, reaching $156.87. 949,403 shares of the company were exchanged, compared to its average volume of 550,744. The company has a market capitalization of $12.06 billion, a price-to-earnings ratio of 10.49 and a beta of 0.44. The firm’s 50-day simple moving average is $169.95 and its 200-day simple moving average is $167.33. Globe Life Inc. has a 1 year low of $127.85 and a 1 year high of $191.55. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, October 21st. The company reported $4.84 earnings per share for the quarter, missing the consensus estimate of $4.90 by ($0.06). The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.56 billion. Globe Life had a net margin of 18.89% and a return on equity of 19.95%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.81 EPS. On average, analysts anticipate that Globe Life Inc. will post 15.61 EPS for the current year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be given a dividend of $0.33 per share. The ex-dividend date is Monday, October 5th. This represents a $1.32 dividend on an annualized basis and a yield of 0.8%. Globe Life’s dividend payout ratio (DPR) is 8.83%.

Globe Life announced that its Board of Directors has initiated a share buyback program on Monday, August 10th that permits the company to buy back $2.50 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 17.7% of its shares through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Globe Life

Institutional investors and hedge funds have recently made changes to their positions in the company. Mather Group LLC. grew its position in shares of Globe Life by 9.5% in the 3rd quarter. Mather Group LLC. now owns 773 shares of the company’s stock valued at $128,000 after acquiring an additional 67 shares during the period. NewEdge Advisors LLC increased its stake in shares of Globe Life by 2.7% during the 2nd quarter. NewEdge Advisors LLC now owns 2,562 shares of the company’s stock worth $458,000 after purchasing an additional 68 shares during the last quarter. Root Financial Partners LLC raised its holdings in shares of Globe Life by 23.3% in the 1st quarter. Root Financial Partners LLC now owns 439 shares of the company’s stock valued at $61,000 after purchasing an additional 83 shares during the period. Empirical Finance LLC raised its holdings in shares of Globe Life by 2.8% in the 2nd quarter. Empirical Finance LLC now owns 3,228 shares of the company’s stock valued at $577,000 after purchasing an additional 87 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Globe Life by 4.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,366 shares of the company’s stock valued at $329,000 after purchasing an additional 91 shares during the period. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GL. JPMorgan Chase & Co. boosted their price target on Globe Life from $193.00 to $195.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. Morgan Stanley lowered their price objective on Globe Life from $208.00 to $197.00 and set an “overweight” rating for the company in a research report on Monday, October 5th. UBS Group set a $165.00 price objective on Globe Life in a research report on Friday. TD Cowen dropped their target price on Globe Life from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday. Finally, Keefe, Bruyette & Woods reduced their target price on Globe Life from $192.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $181.50.

Globe Life Company Profile

Globe Life Inc (NYSE: GL) is an insurance holding company that provides individual life and supplemental health insurance products through a network of wholly owned subsidiaries. Its offerings are designed primarily for middle-income households and include term and whole life insurance, mortgage protection coverage, accident and supplemental health insurance, Medicare supplement policies, and annuities.

The company markets its products through several distribution channels, including exclusive and independent agency networks, direct-to-consumer sales, and workplace or union-affiliated programs.