Globe Life Inc. (NYSE:GL) Director Sells $339,690.00 in Stock

Globe Life Inc. (NYSE:GL) Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the sale, the director now owns 5,122 shares in the company, valued at approximately $579,964.06. This trade represents a 36.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Globe Life Trading Up 2.4 %

Globe Life stock opened at $114.19 on Thursday. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. The company has a market capitalization of $9.59 billion, a price-to-earnings ratio of 9.66 and a beta of 0.80. The business’s fifty day simple moving average is $108.72 and its two-hundred day simple moving average is $101.68. 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 announced its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.06 by $0.43. The company had revenue of $1.46 billion for 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%. Globe Life’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.71 EPS. As a group, equities analysts predict 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. Investors of record on Monday, January 6th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Monday, January 6th. Globe Life’s dividend payout ratio (DPR) is currently 8.12%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company lifted 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. Jefferies Financial Group upped their target price on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Raymond James increased their target price on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods upped their price target on Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Finally, Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $132.00 to $143.00 in a report on Wednesday. Four 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. Based on data from MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and a consensus target price of $132.80.

Hedge Funds Weigh In On Globe Life

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GL. Commonwealth Equity Services LLC boosted its holdings in shares of Globe Life by 35.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 47,482 shares of the company’s stock valued at $3,907,000 after acquiring an additional 12,401 shares during the last quarter. Arizona State Retirement System grew its position in Globe Life by 1.7% in the 2nd quarter. Arizona State Retirement System now owns 26,325 shares of the company’s stock worth $2,166,000 after purchasing an additional 438 shares during the period. Acadian Asset Management LLC grew its position in Globe Life by 132.7% in the 2nd 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 during the period. Ballentine Partners LLC raised its stake in Globe Life by 41.0% during the 2nd quarter. Ballentine Partners LLC now owns 2,491 shares of the company’s stock valued at $205,000 after buying an additional 724 shares during 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 buying an additional 36,406 shares during the period. 81.61% of the stock is owned by institutional investors.

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.