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

Globe Life Inc. (NYSE:GL) CEO Frank M. Svoboda sold 13,448 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $112.56, for a total value of $1,513,706.88. Following the sale, the chief executive officer now owns 18,948 shares in the company, valued at approximately $2,132,786.88. This trade represents a 41.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Globe Life Price Performance

Shares of GL stock opened at $114.19 on Thursday. Globe Life Inc. has a twelve month low of $38.95 and a twelve month 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 stock has a fifty day simple moving average of $108.72 and a two-hundred day simple moving average of $101.68. The stock has a market capitalization of $9.59 billion, a price-to-earnings ratio of 9.66 and a beta of 0.80.

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

Globe Life Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GL. Raymond James raised their price target on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 15th. Jefferies Financial Group lifted their price target on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and upped their price target for the company from $132.00 to $143.00 in a report on Wednesday. Piper Sandler boosted their target price on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Truist Financial increased their price target on Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $132.80.

Institutional Trading of Globe Life

A number of hedge funds have recently bought and sold shares of GL. State Street Corp increased its holdings in shares of Globe Life by 3.4% in the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company’s stock valued at $375,480,000 after acquiring an additional 115,432 shares during the period. Geode Capital Management LLC boosted its position in Globe Life by 3.5% during the third quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock valued at $276,994,000 after purchasing an additional 89,299 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Globe Life by 22.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock valued at $160,949,000 after purchasing an additional 277,108 shares during the last quarter. Millennium Management LLC raised its holdings in Globe Life by 177.0% in the second quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock worth $105,303,000 after purchasing an additional 817,760 shares in the last quarter. Finally, Nuance Investments LLC raised its holdings in Globe Life by 155.6% in the third quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock worth $120,629,000 after purchasing an additional 693,346 shares in the last quarter. Hedge funds and other institutional investors 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.