Globe Life Inc. (NYSE:GL) Insider Jason A. Harvey Sells 12,000 Shares

Globe Life Inc. (NYSE:GLGet Rating) insider Jason A. Harvey sold 12,000 shares of the stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $103.34, for a total transaction of $1,240,080.00. Following the sale, the insider now owns 460 shares of the company’s stock, valued at $47,536.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Globe Life Price Performance

Shares of GL opened at $102.80 on Friday. The business’s fifty day moving average is $100.57 and its 200 day moving average is $99.14. Globe Life Inc. has a 12-month low of $85.25 and a 12-month high of $108.61. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.31. The stock has a market cap of $10.02 billion, a P/E ratio of 14.62 and a beta of 0.88.

Globe Life (NYSE:GLGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.03. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.33 billion. Globe Life had a net margin of 13.68% and a return on equity of 9.90%. The business’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.85 earnings per share.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be paid a $0.2075 dividend. This represents a $0.83 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Thursday, October 6th. Globe Life’s dividend payout ratio (DPR) is presently 11.81%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GL. Charles Schwab Investment Management Inc. lifted its position in shares of Globe Life by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 692,697 shares of the company’s stock valued at $64,920,000 after purchasing an additional 18,136 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Globe Life by 30.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 4,162 shares of the company’s stock worth $390,000 after buying an additional 960 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Globe Life by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 1,728,388 shares of the company’s stock valued at $161,561,000 after acquiring an additional 29,648 shares in the last quarter. Invesco Ltd. increased its position in shares of Globe Life by 19.1% during the fourth quarter. Invesco Ltd. now owns 1,400,309 shares of the company’s stock valued at $131,237,000 after acquiring an additional 224,803 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in Globe Life by 9.2% during the fourth quarter. Schroder Investment Management Group now owns 591,249 shares of the company’s stock worth $55,412,000 after acquiring an additional 50,003 shares during the period. Institutional investors own 81.82% of the company’s stock.

Analyst Ratings Changes

GL has been the subject of a number of recent analyst reports. Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $105.00 to $112.00 in a report on Wednesday, June 15th. JPMorgan Chase & Co. lifted their target price on Globe Life from $108.00 to $112.00 in a report on Monday, July 11th. Morgan Stanley boosted their price target on Globe Life from $109.00 to $110.00 and gave the company an “underweight” rating in a research note on Wednesday, August 17th. Piper Sandler raised their price objective on shares of Globe Life from $119.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, July 8th. Finally, Raymond James began coverage on shares of Globe Life in a research report on Wednesday. They set a “strong-buy” rating and a $138.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Globe Life has an average rating of “Hold” and a consensus price target of $114.25.

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.

Further Reading

Insider Buying and Selling by Quarter for Globe Life (NYSE:GL)

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