Globe Life Inc. (NYSE:GL) CMO Sells $1,016,190.00 in Stock

Globe Life Inc. (NYSE:GL) CMO Jennifer Allison Haworth sold 9,000 shares of the firm’s 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 completion of the sale, the chief marketing officer now directly owns 13,485 shares of the company’s stock, valued at approximately $1,522,591.35. This trade represents a 40.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Globe Life Stock Performance

NYSE:GL opened at $114.19 on Friday. 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 twelve month low of $38.95 and a twelve month high of $132.00. The firm has a market capitalization of $9.59 billion, a price-to-earnings ratio of 9.66 and a beta of 0.80. The firm’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 for the quarter, beating 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 analyst estimates of $1.46 billion. During the same period last year, the business earned $2.71 EPS. The business’s revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts expect that Globe Life Inc. will post 12.31 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be paid a $0.24 dividend. The ex-dividend date of this dividend 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%.

Institutional Investors Weigh In On Globe Life

A number of institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc increased its holdings in shares of Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after acquiring an additional 194 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of Globe Life in the 3rd quarter worth about $32,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Globe Life by 88.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock valued at $50,000 after purchasing an additional 281 shares during the period. True Wealth Design LLC bought a new stake in Globe Life during the 3rd quarter valued at $59,000. Finally, Quarry LP raised its stake in shares of Globe Life by 47.5% during the second quarter. Quarry LP now owns 838 shares of the company’s stock valued at $69,000 after purchasing an additional 270 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Truist Financial raised their price objective on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Jefferies Financial Group lifted their price target on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Wells Fargo & Company upped 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. TD Cowen assumed coverage on shares of Globe Life in a research note on Wednesday, October 9th. They set a “buy” rating and a $150.00 price target on the stock. Finally, Piper Sandler raised their price objective on Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average 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.