Insider Selling: Globe Life Inc. (NYSE:GL) EVP Sells 2,320 Shares of 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 stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the transaction, the executive vice president now directly owns 10,220 shares in the company, valued at $790,006. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Globe Life Price Performance

Shares of GL opened at $75.75 on Friday. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The business has a 50-day simple moving average of $106.65 and a two-hundred day simple moving average of $115.29. 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 $7.12 billion, a PE ratio of 7.23 and a beta of 0.69.

Globe Life (NYSE:GL) last issued its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (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 firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the company earned $2.53 EPS. Globe Life’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts anticipate that Globe Life Inc. will post 11.73 earnings per share for the current fiscal year.

Globe Life Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a $0.24 dividend. This is a boost from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, April 4th. This represents a $0.96 annualized dividend and a dividend yield of 1.27%. Globe Life’s dividend payout ratio is presently 9.17%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. StockNews.com downgraded Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Wells Fargo & Company reduced their price target on Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a research note on Wednesday. Truist Financial reduced their price target on Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, Evercore ISI reduced their price target on 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. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $114.33.

Institutional Investors Weigh In On Globe Life

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Globe Life by 13.3% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 73,496 shares of the company’s stock valued at $8,553,000 after buying an additional 8,600 shares during the period. Canvas Wealth Advisors LLC acquired a new stake in shares of Globe Life in the first quarter valued at about $419,000. Revisor Wealth Management LLC acquired a new stake in shares of Globe Life in the first quarter valued at about $314,000. Accurate Wealth Management LLC increased its stake in shares of Globe Life by 26.5% in the first quarter. Accurate Wealth Management LLC now owns 22,565 shares of the company’s stock valued at $2,626,000 after buying an additional 4,727 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of Globe Life by 128.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 169,527 shares of the company’s stock valued at $19,728,000 after buying an additional 95,273 shares during the period. Institutional investors and hedge funds own 81.61% of the company’s stock.

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.