Globe Life Inc. (NYSE:GL) CMO Jennifer Allison Haworth Sells 9,000 Shares

Globe Life Inc. (NYSE:GL) CMO Jennifer Allison Haworth sold 9,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $112.91, for a total transaction of $1,016,190.00. Following the completion of the sale, the chief marketing officer now directly owns 13,485 shares in the company, valued at approximately $1,522,591.35. The trade was a 40.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Globe Life Stock Up 0.3 %

Shares of NYSE:GL opened at $111.56 on Wednesday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The firm has a market cap of $9.36 billion, a P/E ratio of 9.44 and a beta of 0.80. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. The company’s 50-day moving average price is $108.57 and its two-hundred day moving average price is $101.59.

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

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.86%. Globe Life’s payout ratio is currently 8.12%.

Hedge Funds Weigh In On Globe Life

Hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its holdings in Globe Life by 388.0% during the 4th quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock worth $27,000 after purchasing an additional 194 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of Globe Life during the 3rd quarter worth approximately $32,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Globe Life by 88.4% during the second 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 acquired a new position in Globe Life in the third quarter valued at approximately $59,000. Finally, Quarry LP boosted its stake in Globe Life by 47.5% in the second quarter. Quarry LP now owns 838 shares of the company’s stock valued at $69,000 after acquiring an additional 270 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Wall Street Analyst Weigh In

GL has been the topic of a number of recent research reports. Morgan Stanley upped 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. Piper Sandler upped their price target on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods lifted their price objective on Globe Life from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Raymond James upped their target price on shares of Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 15th. Finally, TD Cowen began coverage on shares of Globe Life in a report on Wednesday, October 9th. They set a “buy” rating and a $150.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Globe Life presently has an average rating of “Moderate Buy” and a consensus target price of $127.10.

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.