Globe Life (NYSE:GL) Stock Price Up 4.8% After Insider Buying Activity

Globe Life Inc. (NYSE:GL) rose 4.8% during mid-day trading on Monday following insider buying activity. The company traded as high as $79.74 and last traded at $79.42. Approximately 526,765 shares were traded during trading, a decline of 75% from the average daily volume of 2,111,711 shares. The stock had previously closed at $75.75.

Specifically, Director David A. Rodriguez purchased 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were bought at an average cost of $79.72 per share, with a total value of $119,580.00. Following the acquisition, the director now owns 4,192 shares of the company’s stock, valued at $334,186.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director David A. Rodriguez purchased 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were bought at an average cost of $79.72 per share, with a total value of $119,580.00. Following the acquisition, the director now owns 4,192 shares of the company’s stock, valued at $334,186.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Rebecca E. Zorn sold 2,320 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $77.30, for a total transaction of $179,336.00. Following the completion of the transaction, the executive vice president now directly owns 10,220 shares in the company, valued at $790,006. The disclosure for this sale can be found here. 1.51% of the stock is owned by insiders.

Analyst Ratings Changes

GL has been the topic of a number of research reports. Wells Fargo & Company lowered their price objective on Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. JPMorgan Chase & Co. upped their price target on Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Keefe, Bruyette & Woods upgraded Globe Life from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $130.00 to $110.00 in a research report on Wednesday, April 24th. Truist Financial decreased their price target on Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. Finally, Evercore ISI decreased their price objective on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a research report on Friday, April 12th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and an average target price of $114.33.

Globe Life Price Performance

The business has a 50 day moving average of $105.71 and a 200 day moving average of $115.07. The company has a market cap of $7.16 billion, a PE ratio of 7.28 and a beta of 0.69. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the business earned $2.53 EPS. The business’s revenue was up 7.2% compared to the same quarter last year. As a group, research analysts predict that Globe Life Inc. will post 11.73 EPS for the current year.

Globe Life Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid a $0.24 dividend. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a yield of 1.26%. Globe Life’s dividend payout ratio (DPR) is presently 9.17%.

Institutional Trading of Globe Life

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lindbrook Capital LLC raised its holdings in Globe Life by 62.2% in the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after purchasing an additional 92 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in Globe Life by 4.9% in the third quarter. Sequoia Financial Advisors LLC now owns 2,111 shares of the company’s stock worth $230,000 after purchasing an additional 99 shares in the last quarter. Stonegate Investment Group LLC raised its holdings in Globe Life by 0.3% in the fourth quarter. Stonegate Investment Group LLC now owns 34,123 shares of the company’s stock worth $4,153,000 after purchasing an additional 116 shares in the last quarter. Brown Advisory Inc. raised its holdings in Globe Life by 3.0% in the third quarter. Brown Advisory Inc. now owns 4,127 shares of the company’s stock worth $449,000 after purchasing an additional 121 shares in the last quarter. Finally, Tectonic Advisors LLC raised its holdings in Globe Life by 5.3% in the fourth quarter. Tectonic Advisors LLC now owns 2,960 shares of the company’s stock worth $360,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

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.