Insider Selling: Globe Life Inc. (NYSE:GL) CEO Sells $3,024,632.80 in Stock

Globe Life Inc. (NYSE:GL) CEO James Matthew Darden sold 24,890 shares of Globe Life stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total value of $3,024,632.80. Following the sale, the chief executive officer now owns 38,973 shares of the company’s stock, valued at approximately $4,735,998.96. This trade represents a 38.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Globe Life Trading Down 1.4 %

Shares of NYSE:GL opened at $121.80 on Friday. The company has a market cap of $10.22 billion, a P/E ratio of 10.19 and a beta of 0.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00. The stock’s fifty day moving average price is $114.66 and its 200-day moving average price is $107.98.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. Sell-side analysts expect that Globe Life Inc. will post 13.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP lifted its holdings in Globe Life by 6.8% in the fourth quarter. Wellington Management Group LLP now owns 5,117,122 shares of the company’s stock valued at $570,661,000 after acquiring an additional 326,307 shares during the period. Invesco Ltd. lifted its holdings in Globe Life by 6.0% in the fourth quarter. Invesco Ltd. now owns 3,932,637 shares of the company’s stock valued at $438,568,000 after acquiring an additional 223,282 shares during the period. State Street Corp lifted its holdings in Globe Life by 3.4% in the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after acquiring an additional 115,432 shares during the period. Geode Capital Management LLC lifted its holdings in Globe Life by 3.5% in the third quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock valued at $276,994,000 after acquiring an additional 89,299 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Globe Life by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,592,734 shares of the company’s stock valued at $177,615,000 after acquiring an additional 118,054 shares during the period. 81.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GL shares. Morgan Stanley lifted their price target on Globe Life from $123.00 to $125.00 and gave the company an “equal weight” rating in a research report on Tuesday. Truist Financial lifted their price target on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Piper Sandler lifted their price objective on Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods lifted their price objective on Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Jefferies Financial Group lifted their price target on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $133.10.

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.