Mark A. Blinn Sells 3,000 Shares of Globe Life Inc. (NYSE:GL) Stock

Globe Life Inc. (NYSE:GL) Director Mark A. Blinn sold 3,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the sale, the director now owns 5,122 shares in the company, valued at $579,964.06. This represents a 36.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Globe Life Trading Up 2.4 %

Shares of GL opened at $114.19 on Thursday. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The firm has a market cap of $9.59 billion, a price-to-earnings ratio of 9.66 and a beta of 0.80. The firm has a 50 day moving average price of $108.72 and a 200-day moving average price of $101.68. 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 (NYSE:GL) last posted its quarterly 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. 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 during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the firm posted $2.71 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities research analysts forecast that Globe Life Inc. will post 12.31 earnings per share for the current year.

Globe Life Dividend Announcement

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

Institutional Trading of Globe Life

Several hedge funds and other institutional investors have recently bought and sold shares of GL. 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 valued at $27,000 after buying an additional 194 shares during the last quarter. Riverview Trust Co purchased a new position in shares of Globe Life in the third quarter valued at about $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 valued at $50,000 after acquiring an additional 281 shares during the last quarter. True Wealth Design LLC purchased a new stake in shares of Globe Life during the third quarter worth about $59,000. Finally, Quarry LP grew its stake in shares of Globe Life by 47.5% in the second quarter. Quarry LP now owns 838 shares of the company’s stock worth $69,000 after purchasing an additional 270 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Wall Street Analyst Weigh In

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

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.