Globe Life Inc. (NYSE:GL) Director Sells $339,690.00 in Stock

Globe Life Inc. (NYSE:GL) Director Mark A. Blinn sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $113.23, for a total value of $339,690.00. Following the completion of the transaction, the director now directly owns 5,122 shares in the company, valued at $579,964.06. This trade represents a 36.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Globe Life Trading Up 2.4 %

Shares of Globe Life stock opened at $114.19 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a market capitalization of $9.59 billion, a PE ratio of 9.66 and a beta of 0.80. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The company’s fifty day simple moving average is $108.89 and its 200-day simple moving average is $101.76.

Globe Life (NYSE:GL) last released its quarterly 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 business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. Globe Life’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.71 earnings per share. As a group, equities analysts anticipate that Globe Life Inc. will post 12.31 earnings per share for the current year.

Globe Life Announces Dividend

The company 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. This represents a $0.96 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s payout ratio is 8.12%.

Wall Street Analyst Weigh In

GL has been the topic of several recent analyst reports. Raymond James increased their price objective on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 15th. Wells Fargo & Company raised their price target on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. TD Cowen started coverage on shares of Globe Life in a report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price objective for the company. Piper Sandler raised their target price on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Jefferies Financial Group boosted their target price on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Globe Life presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.80.

Hedge Funds Weigh In On Globe Life

Hedge funds have recently modified their holdings of the company. D. E. Shaw & Co. Inc. raised its position in shares of Globe Life by 398.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company’s stock valued at $88,420,000 after purchasing an additional 859,146 shares during the period. Millennium Management LLC raised 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 acquiring an additional 817,760 shares during the period. Nuance Investments LLC lifted 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 acquiring an additional 693,346 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Globe Life by 15,398.7% in the third quarter. International Assets Investment Management LLC now owns 336,631 shares of the company’s stock worth $356,530,000 after acquiring an additional 334,459 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of 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 purchasing an additional 277,108 shares in the last quarter. 81.61% of the stock is currently owned by 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.