Globe Life Inc. (NYSE:GL) Director David A. Rodriguez Acquires 1,500 Shares

Globe Life Inc. (NYSE:GL) Director David A. Rodriguez purchased 1,500 shares of the stock in a transaction on Wednesday, April 24th. The stock was acquired at an average cost of $79.72 per share, with a total value of $119,580.00. Following the completion of the purchase, the director now directly owns 4,192 shares of the company’s stock, valued at $334,186.24. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Globe Life Stock Performance

Shares of GL opened at $75.75 on Friday. 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 business has a 50-day simple moving average of $106.65 and a two-hundred day simple moving average of $115.29. The stock has a market cap of $7.12 billion, a price-to-earnings ratio of 7.23 and a beta of 0.69. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00.

Globe Life (NYSE:GL) last issued its quarterly earnings results on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the company earned $2.53 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, analysts expect that Globe Life Inc. will post 11.73 EPS for the current year.

Globe Life Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, April 4th. This represents a $0.96 annualized dividend and a dividend yield of 1.27%. 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%.

Institutional Trading of Globe Life

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Globe Life by 1.7% during the third quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock worth $1,183,175,000 after purchasing an additional 181,824 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Globe Life by 4.1% during the third quarter. JPMorgan Chase & Co. now owns 4,247,993 shares of the company’s stock valued at $461,884,000 after buying an additional 168,127 shares during the last quarter. Cooke & Bieler LP boosted its stake in Globe Life by 2.0% during the fourth quarter. Cooke & Bieler LP now owns 2,357,839 shares of the company’s stock valued at $286,996,000 after buying an additional 45,227 shares during the last quarter. Invesco Ltd. boosted its stake in Globe Life by 3.7% during the third quarter. Invesco Ltd. now owns 1,901,013 shares of the company’s stock valued at $206,697,000 after buying an additional 67,753 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Globe Life by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,200,369 shares of the company’s stock valued at $146,109,000 after buying an additional 29,560 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on GL. JPMorgan Chase & Co. increased their price target on shares of Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Evercore ISI decreased their price target on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research note on Friday, April 12th. Truist Financial decreased their price target on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday. Piper Sandler decreased 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 note on Wednesday. Finally, StockNews.com cut Globe Life from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Globe Life currently has a consensus rating of “Moderate Buy” and an average target price of $114.33.

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.