Insider Buying: Globe Life Inc. (NYSE:GL) Director Purchases 1,500 Shares of Stock

Globe Life Inc. (NYSE:GL) Director David A. Rodriguez bought 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was purchased at an average cost of $79.72 per share, with a total value of $119,580.00. Following the acquisition, the director now directly owns 4,192 shares in the company, valued at approximately $334,186.24. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Globe Life Trading Down 2.2 %

GL stock traded down $1.67 during midday trading on Friday, reaching $73.87. 3,092,316 shares of the company traded hands, compared to its average volume of 2,093,302. The firm has a market capitalization of $6.95 billion, a price-to-earnings ratio of 7.21 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. The business has a 50 day moving average of $107.65 and a 200-day moving average of $115.54. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.05 and a current ratio of 0.05.

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

Globe Life Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Thursday, April 4th. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s payout ratio is 9.17%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Piper Sandler cut their target price on Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday. Truist Financial cut their price objective on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Wells Fargo & Company cut their target price on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Evercore ISI decreased their price target on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a research note on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $114.33.

Institutional Investors Weigh In On Globe Life

Several hedge funds and other institutional investors have recently modified their holdings of GL. Vanguard Group Inc. lifted its holdings in Globe Life by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 10,881,775 shares of the company’s stock valued at $1,183,175,000 after buying an additional 181,824 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of 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 acquiring an additional 168,127 shares in the last quarter. Cooke & Bieler LP boosted its holdings in shares of Globe Life by 2.0% in the fourth quarter. Cooke & Bieler LP now owns 2,357,839 shares of the company’s stock valued at $286,996,000 after purchasing an additional 45,227 shares during the period. Invesco Ltd. grew its stake in Globe Life by 3.7% in the third quarter. Invesco Ltd. now owns 1,901,013 shares of the company’s stock worth $206,697,000 after purchasing an additional 67,753 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Globe Life by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,200,369 shares of the company’s stock worth $146,109,000 after purchasing an additional 29,560 shares during the period. 81.61% of the stock is currently owned by hedge funds and other 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.