Frank M. Svoboda Sells 13,448 Shares of Globe Life Inc. (NYSE:GL) Stock

Globe Life Inc. (NYSE:GL) CEO Frank M. Svoboda sold 13,448 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $112.56, for a total value of $1,513,706.88. Following the transaction, the chief executive officer now owns 18,948 shares in the company, valued at approximately $2,132,786.88. This represents a 41.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Globe Life Stock Performance

GL stock traded up $0.36 during trading hours on Tuesday, hitting $111.56. 571,217 shares of the stock were exchanged, compared to its average volume of 667,129. The company has a 50-day simple moving average of $108.48 and a two-hundred day simple moving average of $101.39. The firm has a market capitalization of $9.36 billion, a P/E ratio of 9.44 and a beta of 0.80. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. 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 (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. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.71 earnings per share. On average, analysts forecast that Globe Life Inc. will post 12.31 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s payout ratio is 8.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GL shares. Morgan Stanley increased their target price on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Truist Financial increased 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. Wells Fargo & Company raised their target price on shares of Globe Life from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Piper Sandler boosted their target price on Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods boosted their price objective on Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and a consensus price target of $127.10.

Hedge Funds Weigh In On Globe Life

Several institutional investors and hedge funds have recently added to or reduced their stakes in GL. Achmea Investment Management B.V. boosted its holdings in Globe Life by 151.4% in the second quarter. Achmea Investment Management B.V. now owns 29,684 shares of the company’s stock valued at $2,443,000 after acquiring an additional 17,878 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Globe Life during the second quarter worth $15,483,000. State Street Corp increased its position in shares of Globe Life by 3.4% during the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after buying an additional 115,432 shares during the period. Principal Financial Group Inc. raised its stake in Globe Life by 9.0% during the third quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock worth $11,154,000 after buying an additional 8,663 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Globe Life by 85.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company’s stock valued at $2,095,000 after buying an additional 9,141 shares during the period. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Company Profile

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.