Globe Life Inc. (NYSE:GL) CMO Jennifer Allison Haworth Sells 9,000 Shares

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

Globe Life Stock Performance

NYSE GL opened at $114.19 on Friday. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The company’s 50-day simple moving average is $108.89 and its 200 day simple moving average is $101.76. The stock has a market cap of $9.59 billion, a P/E ratio of 9.66 and a beta of 0.80.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the company posted $2.71 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, research analysts forecast that Globe Life Inc. will post 12.31 earnings per share for the current fiscal year.

Globe Life Announces Dividend

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

Hedge Funds Weigh In On Globe Life

A number of large investors have recently modified their holdings of GL. Commonwealth Equity Services LLC raised its position in shares of Globe Life by 35.3% during the second quarter. Commonwealth Equity Services LLC now owns 47,482 shares of the company’s stock worth $3,907,000 after acquiring an additional 12,401 shares during the last quarter. Arizona State Retirement System raised its position in shares of Globe Life by 1.7% in the 2nd quarter. Arizona State Retirement System now owns 26,325 shares of the company’s stock valued at $2,166,000 after acquiring an additional 438 shares during the period. Acadian Asset Management LLC boosted its position in shares of Globe Life by 132.7% during the second quarter. Acadian Asset Management LLC now owns 2,204 shares of the company’s stock worth $180,000 after purchasing an additional 1,257 shares in the last quarter. Ballentine Partners LLC lifted its holdings in Globe Life by 41.0% during the second quarter. Ballentine Partners LLC now owns 2,491 shares of the company’s stock worth $205,000 after acquiring an additional 724 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its holdings in shares of Globe Life by 48.2% during the 2nd quarter. Royal London Asset Management Ltd. now owns 111,907 shares of the company’s stock valued at $9,208,000 after purchasing an additional 36,406 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GL. Truist Financial upped their price target on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Piper Sandler lifted their price target on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Raymond James upped their price objective on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 15th. Morgan Stanley increased their price target on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Finally, Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and raised their price target for the company from $132.00 to $143.00 in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $132.80.

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.