Globe Life Inc. (NYSE:GL) CEO Frank M. Svoboda Sells 13,448 Shares

Globe Life Inc. (NYSE:GL) CEO Frank M. Svoboda sold 13,448 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $112.56, for a total transaction of $1,513,706.88. Following the transaction, the chief executive officer now owns 18,948 shares in the company, valued at $2,132,786.88. The trade was a 41.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Globe Life Stock Up 2.4 %

Shares of NYSE:GL opened at $114.19 on Friday. The stock has a market capitalization of $9.59 billion, a P/E ratio of 9.66 and a beta of 0.80. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00. The stock has a 50-day simple moving average of $108.89 and a 200-day simple moving average of $101.76.

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

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.84%. Globe Life’s dividend payout ratio is currently 8.12%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Jefferies Financial Group boosted their target price on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Morgan Stanley increased their target price on Globe Life from $110.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. TD Cowen started coverage on shares of Globe Life in a research note on Wednesday, October 9th. They issued a “buy” rating and a $150.00 target price for the company. Truist Financial boosted their price objective on shares of Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Finally, Piper Sandler boosted their price target on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.80.

Institutional Trading of Globe Life

Large investors have recently modified their holdings of the business. Versant Capital Management Inc raised its position in shares of Globe Life by 388.0% in the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after purchasing an additional 194 shares in the last quarter. Riverview Trust Co bought a new stake in Globe Life in the third quarter valued at about $32,000. Benjamin F. Edwards & Company Inc. lifted its holdings in Globe Life by 88.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after buying an additional 281 shares during the last quarter. True Wealth Design LLC bought a new stake in shares of Globe Life in the 3rd quarter valued at approximately $59,000. Finally, Quarry LP raised its position in shares of Globe Life by 47.5% during the 2nd quarter. Quarry LP now owns 838 shares of the company’s stock valued at $69,000 after acquiring an additional 270 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

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.