Insider Selling: Globe Life Inc. (NYSE:GL) EVP Sells $179,336.00 in Stock

Globe Life Inc. (NYSE:GL) EVP Rebecca E. Zorn sold 2,320 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $77.30, for a total value of $179,336.00. Following the sale, the executive vice president now owns 10,220 shares in the company, valued at $790,006. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Globe Life Stock Performance

NYSE:GL traded down $1.67 on Friday, hitting $73.87. The stock had a trading volume of 3,092,316 shares, compared to its average volume of 2,093,302. The business’s 50-day simple moving average is $107.65 and its two-hundred day simple moving average is $115.54. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.36. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of 7.21 and a beta of 0.69.

Globe Life (NYSE:GL) last released its earnings results on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the firm posted $2.53 EPS. Globe Life’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, research analysts predict that Globe Life Inc. will post 11.68 earnings per share for the current year.

Globe Life Increases Dividend

The business 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. The ex-dividend date is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a yield of 1.30%. This is a boost from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s dividend payout ratio (DPR) is currently 9.17%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wells Fargo & Company cut their price target on Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday. Keefe, Bruyette & Woods raised shares of Globe Life from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $130.00 to $110.00 in a research report on Wednesday. Piper Sandler reduced their target price on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday. Truist Financial lowered their price objective on Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday. Finally, Evercore ISI dropped their target price on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Globe Life currently has an average rating of “Moderate Buy” and a consensus price target of $114.33.

Institutional Investors Weigh In On Globe Life

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. increased its stake in Globe Life by 488.6% during the fourth quarter. Pacer Advisors Inc. now owns 33,620 shares of the company’s stock worth $4,092,000 after purchasing an additional 27,908 shares during the period. Arizona State Retirement System boosted its stake in Globe Life by 5.2% during the 4th quarter. Arizona State Retirement System now owns 26,061 shares of the company’s stock worth $3,172,000 after purchasing an additional 1,295 shares during the period. AIA Group Ltd acquired a new position in shares of Globe Life in the fourth quarter valued at approximately $1,788,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Globe Life by 6.2% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 261,580 shares of the company’s stock worth $31,840,000 after purchasing an additional 15,329 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in Globe Life by 72.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,637 shares of the company’s stock worth $443,000 after buying an additional 1,526 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

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.