Globe Life Inc. (NYSE:GL) Director Acquires $270,600.00 in Stock

Globe Life Inc. (NYSE:GL) Director Mary E. Thigpen bought 3,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was purchased at an average price of $90.20 per share, for a total transaction of $270,600.00. Following the acquisition, the director now directly owns 15,605 shares of the company’s stock, valued at approximately $1,407,571. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Globe Life Stock Performance

Shares of Globe Life stock opened at $90.69 on Monday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $8.17 billion, a P/E ratio of 8.66 and a beta of 0.81. The business has a fifty day simple moving average of $83.59 and a two-hundred day simple moving average of $99.12. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.90 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. Globe Life had a return on equity of 22.53% and a net margin of 18.47%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.61 earnings per share. On average, equities analysts forecast that Globe Life Inc. will post 11.92 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, July 5th. This represents a $0.96 annualized dividend and a dividend yield of 1.06%. Globe Life’s payout ratio is presently 9.17%.

Hedge Funds Weigh In On Globe Life

Institutional investors and hedge funds have recently modified their holdings of the stock. Private Wealth Management Group LLC bought a new position in shares of Globe Life during the fourth quarter valued at $27,000. Private Trust Co. NA increased its holdings in shares of Globe Life by 270.0% during the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after acquiring an additional 162 shares in the last quarter. Lindbrook Capital LLC increased 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 acquiring an additional 92 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Globe Life by 177.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock valued at $34,000 after acquiring an additional 177 shares in the last quarter. Finally, Keener Financial Planning LLC bought a new position in shares of Globe Life during the first quarter valued at $49,000. 81.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GL has been the subject of a number of research analyst reports. Truist Financial raised their price target on Globe Life from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday. Piper Sandler raised their price target on Globe Life from $105.00 to $106.00 and gave the stock an “overweight” rating in a research note on Friday. Raymond James reaffirmed a “strong-buy” rating on shares of Globe Life in a research note on Tuesday, May 21st. Keefe, Bruyette & Woods raised Globe Life from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $130.00 to $110.00 in a research note on Wednesday, April 24th. Finally, Wells Fargo & Company raised their price target on Globe Life from $105.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $105.44.

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.