Globe Life Inc. (NYSE:GL) CEO Frank M. Svoboda Sells 13,448 Shares

Globe Life Inc. (NYSE:GL) CEO Frank M. Svoboda sold 13,448 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 18,948 shares in the company, valued at approximately $2,132,786.88. This trade represents a 41.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Globe Life Stock Up 0.3 %

Shares of NYSE GL traded up $0.36 during mid-day trading on Tuesday, hitting $111.56. 571,217 shares of the stock traded hands, compared to its average volume of 667,129. The company has a market cap of $9.36 billion, a price-to-earnings ratio of 9.44 and a beta of 0.80. The stock has a fifty day moving average price of $108.48 and a 200-day moving average price of $101.39. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.71 earnings per share. Research analysts anticipate that Globe Life Inc. will post 12.31 EPS for the current year.

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.86%. Globe Life’s dividend payout ratio is presently 8.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on GL shares. Jefferies Financial Group boosted their price target on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Wells Fargo & Company lifted their price objective on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Raymond James increased their target price on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods lifted their price target on shares of Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Finally, Piper Sandler increased their price objective on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Globe Life presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.10.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. UMB Bank n.a. grew its holdings in Globe Life by 7.7% in the third quarter. UMB Bank n.a. now owns 1,357 shares of the company’s stock valued at $144,000 after purchasing an additional 97 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of Globe Life by 4.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 3,524 shares of the company’s stock valued at $373,000 after purchasing an additional 136 shares during the last quarter. Fiduciary Trust Co grew its stake in shares of Globe Life by 2.3% during the 3rd quarter. Fiduciary Trust Co now owns 6,329 shares of the company’s stock valued at $670,000 after buying an additional 144 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Globe Life by 4.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,607 shares of the company’s stock worth $382,000 after buying an additional 166 shares during the last quarter. Finally, TrueWealth Advisors LLC increased its holdings in shares of Globe Life by 1.3% during the 3rd quarter. TrueWealth Advisors LLC now owns 13,141 shares of the company’s stock worth $1,392,000 after buying an additional 170 shares during the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.

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.