Globe Life Inc. (NYSE:GL) Director Charles E. Adair sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 10th. The shares were sold at an average price of $106.93, for a total value of $534,650.00. Following the completion of the transaction, the director now directly owns 12,699 shares in the company, valued at approximately $1,357,904.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of NYSE GL opened at $102.12 on Thursday. The firm has a fifty day moving average price of $101.48 and a 200-day moving average price of $95.62. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.07 and a quick ratio of 0.07. Globe Life Inc. has a 1 year low of $62.75 and a 1 year high of $108.22. The stock has a market cap of $10.52 billion, a PE ratio of 15.50 and a beta of 1.13.
Globe Life (NYSE:GL) last posted its earnings results on Tuesday, April 20th. The company reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.12). The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.25 billion. Globe Life had a net margin of 15.38% and a return on equity of 10.28%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.73 earnings per share.
Several institutional investors and hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue raised its stake in shares of Globe Life by 3.4% during the 4th quarter. State of Alaska Department of Revenue now owns 59,776 shares of the company’s stock worth $5,675,000 after buying an additional 1,958 shares during the last quarter. Pensionfund DSM Netherlands raised its stake in shares of Globe Life by 30.2% during the 1st quarter. Pensionfund DSM Netherlands now owns 30,200 shares of the company’s stock worth $2,918,000 after buying an additional 7,000 shares during the last quarter. IFM Investors Pty Ltd increased its position in Globe Life by 20.0% during the 4th quarter. IFM Investors Pty Ltd now owns 10,390 shares of the company’s stock worth $987,000 after purchasing an additional 1,734 shares in the last quarter. State of Michigan Retirement System grew its holdings in Globe Life by 6.8% in the 4th quarter. State of Michigan Retirement System now owns 26,658 shares of the company’s stock valued at $2,531,000 after buying an additional 1,700 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Globe Life by 4.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 91,193 shares of the company’s stock worth $8,660,000 after purchasing an additional 4,255 shares during the period. Institutional investors and hedge funds own 72.47% of the company’s stock.
Several research firms have weighed in on GL. Morgan Stanley upped their target price on Globe Life from $95.00 to $100.00 and gave the stock an “underweight” rating in a research note on Thursday, April 1st. JPMorgan Chase & Co. upped their price target on shares of Globe Life from $99.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, April 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $101.20.
Globe Life Company Profile
Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.
Further Reading: Special Dividends
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