Insider Selling: Globe Life Inc. (NYSE:GL) CMO Sells 9,000 Shares of Stock

Globe Life Inc. (NYSE:GL) CMO Jennifer Allison Haworth sold 9,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the completion of the sale, the chief marketing officer now owns 13,485 shares in the company, valued at $1,522,591.35. This represents a 40.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Globe Life Stock Performance

Globe Life stock opened at $114.19 on Thursday. The company has a market cap of $9.59 billion, a PE ratio of 9.66 and a beta of 0.80. 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 1 year low of $38.95 and a 1 year high of $132.00. The company’s 50-day moving average is $108.72 and its two-hundred day moving average is $101.68.

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

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be issued a $0.24 dividend. The ex-dividend date is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.84%. Globe Life’s dividend payout ratio is presently 8.12%.

Hedge Funds Weigh In On Globe Life

Hedge funds have recently added to or reduced their stakes in the stock. Achmea Investment Management B.V. increased its stake in shares of Globe Life by 151.4% in the 2nd quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company’s stock valued at $2,443,000 after acquiring an additional 17,878 shares during the last quarter. WINTON GROUP Ltd acquired a new position in Globe Life during the second quarter valued at approximately $15,483,000. State Street Corp grew its holdings in Globe Life by 3.4% during the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after purchasing an additional 115,432 shares during the period. Principal Financial Group Inc. raised its holdings in Globe Life by 9.0% in the third quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock worth $11,154,000 after purchasing an additional 8,663 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Globe Life by 85.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company’s stock worth $2,095,000 after purchasing an additional 9,141 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GL shares. Jefferies Financial Group boosted their price target on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Raymond James raised their price target on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 15th. Truist Financial boosted their price objective on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Wells Fargo & Company raised their target price on Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $132.80.

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.