Globe Life Inc. (NYSE:GL) CEO James Matthew Darden Sells 24,890 Shares of Stock

Globe Life Inc. (NYSE:GL) CEO James Matthew Darden sold 24,890 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $121.52, for a total value of $3,024,632.80. Following the sale, the chief executive officer now owns 38,973 shares of the company’s stock, valued at approximately $4,735,998.96. The trade was a 38.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Globe Life Trading Up 0.0 %

GL stock opened at $121.51 on Thursday. Globe Life Inc. has a 1-year low of $38.95 and a 1-year 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. The business’s 50 day moving average is $113.98 and its 200-day moving average is $107.66. The firm has a market cap of $10.20 billion, a P/E ratio of 10.17 and a beta of 0.81.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 EPS for the quarter, beating the consensus estimate of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. Equities analysts anticipate that Globe Life Inc. will post 13.57 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Monday, January 6th. Globe Life’s dividend payout ratio (DPR) is currently 8.03%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GL shares. Piper Sandler increased their price objective on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Jefferies Financial Group increased their price target 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. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. BMO Capital Markets began coverage on shares of Globe Life in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 target price for the company. Finally, Keefe, Bruyette & Woods boosted their price target on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Globe Life presently has a consensus rating of “Moderate Buy” and an average price target of $133.10.

Hedge Funds Weigh In On Globe Life

Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its stake in Globe Life by 3.4% in the third quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after purchasing an additional 115,432 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Globe Life by 9.0% in the third quarter. Principal Financial Group Inc. now owns 105,315 shares of the company’s stock valued at $11,154,000 after buying an additional 8,663 shares during the last quarter. Merit Financial Group LLC acquired a new position in Globe Life during the 4th quarter worth about $487,000. Wealth Enhancement Advisory Services LLC lifted its position in Globe Life by 85.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company’s stock worth $2,095,000 after buying an additional 9,141 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in Globe Life by 56.0% during the 4th quarter. Pacer Advisors Inc. now owns 10,199 shares of the company’s stock worth $1,137,000 after acquiring an additional 3,662 shares during the last quarter. 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.