Globe Life Inc. (NYSE:GL) CAO Michael Shane Henrie Sells 800 Shares

Globe Life Inc. (NYSE:GLGet Rating) CAO Michael Shane Henrie sold 800 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $100.64, for a total transaction of $80,512.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Globe Life Price Performance

Globe Life stock opened at $99.09 on Tuesday. Globe Life Inc. has a 12-month low of $85.25 and a 12-month high of $108.61. The stock has a market cap of $9.77 billion, a P/E ratio of 14.10 and a beta of 0.88. The company has a 50-day moving average price of $97.27 and a 200 day moving average price of $99.71. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.22.

Globe Life (NYSE:GLGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.03. Globe Life had a net margin of 13.68% and a return on equity of 9.06%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the business earned $1.85 earnings per share. Globe Life’s revenue was up 1.7% compared to the same quarter last year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Tuesday, July 5th were given a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date was Friday, July 1st. Globe Life’s dividend payout ratio is presently 11.81%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GL. JPMorgan Chase & Co. raised their price target on shares of Globe Life from $108.00 to $112.00 in a research note on Monday, July 11th. Piper Sandler raised their price target on shares of Globe Life from $119.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, July 8th. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $105.00 to $112.00 in a research note on Wednesday, June 15th. Finally, Morgan Stanley reissued a “maintains” rating and issued a $109.00 price target (up from $107.00) on shares of Globe Life in a research note on Thursday, July 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $110.71.

Institutional Investors Weigh In On Globe Life

A number of institutional investors have recently made changes to their positions in the stock. US Bancorp DE increased its position in shares of Globe Life by 1.9% during the second quarter. US Bancorp DE now owns 39,408 shares of the company’s stock valued at $3,840,000 after acquiring an additional 745 shares during the last quarter. Busey Wealth Management increased its position in shares of Globe Life by 0.7% during the second quarter. Busey Wealth Management now owns 105,954 shares of the company’s stock valued at $10,327,000 after acquiring an additional 727 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Globe Life by 7.4% in the second quarter. Victory Capital Management Inc. now owns 355,052 shares of the company’s stock valued at $34,607,000 after purchasing an additional 24,382 shares in the last quarter. Parsons Capital Management Inc. RI grew its holdings in shares of Globe Life by 5.1% in the second quarter. Parsons Capital Management Inc. RI now owns 24,233 shares of the company’s stock valued at $2,362,000 after purchasing an additional 1,183 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Globe Life by 64.3% in the second quarter. Russell Investments Group Ltd. now owns 222,658 shares of the company’s stock valued at $21,700,000 after purchasing an additional 87,165 shares in the last quarter. 75.72% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Company Profile

(Get Rating)

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.

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