Globe Life Inc. (NYSE:GL) CEO Sells $1,513,706.88 in Stock

Globe Life Inc. (NYSE:GL) CEO Frank M. Svoboda sold 13,448 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $112.56, for a total value of $1,513,706.88. Following the completion of the sale, the chief executive officer now directly owns 18,948 shares of the company’s stock, valued at approximately $2,132,786.88. This represents a 41.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Globe Life Stock Performance

Shares of GL opened at $114.19 on Friday. 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 company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. The stock has a 50 day moving average price of $108.89 and a 200 day moving average price of $101.76.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, October 23rd. The company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $0.43. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.71 earnings per share. Research analysts predict that Globe Life Inc. will post 12.31 EPS for the current fiscal year.

Globe Life Announces Dividend

The firm 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 $0.24 dividend. The ex-dividend date is Monday, January 6th. This represents a $0.96 annualized dividend and a yield of 0.84%. Globe Life’s dividend payout ratio (DPR) is 8.12%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC grew its holdings in shares of Globe Life by 35.3% during the second quarter. Commonwealth Equity Services LLC now owns 47,482 shares of the company’s stock worth $3,907,000 after buying 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 valued at $2,166,000 after buying an additional 438 shares during the last quarter. Acadian Asset Management LLC increased its stake in Globe Life by 132.7% in the 2nd quarter. Acadian Asset Management LLC now owns 2,204 shares of the company’s stock valued at $180,000 after buying an additional 1,257 shares during the period. Ballentine Partners LLC raised its position in Globe Life by 41.0% during the 2nd quarter. Ballentine Partners LLC now owns 2,491 shares of the company’s stock worth $205,000 after buying an additional 724 shares during the last quarter. Finally, Royal London Asset Management Ltd. lifted its stake in shares of Globe Life by 48.2% in the 2nd quarter. Royal London Asset Management Ltd. now owns 111,907 shares of the company’s stock worth $9,208,000 after acquiring an additional 36,406 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on GL. Keefe, Bruyette & Woods lifted their target price on Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. TD Cowen initiated coverage on Globe Life in a research report on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price for the company. Jefferies Financial Group lifted their price objective on shares of Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Morgan Stanley increased their price objective on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company boosted their target price on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $132.80.

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.