Globe Life Inc. (NYSE:GL) CEO Frank M. Svoboda Sells 9,500 Shares

Globe Life Inc. (NYSE:GL) CEO Frank M. Svoboda sold 9,500 shares of Globe Life stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $118.22, for a total transaction of $1,123,090.00. Following the completion of the sale, the chief executive officer now directly owns 3,370 shares in the company, valued at approximately $398,401.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Globe Life Price Performance

Shares of GL stock traded down $0.24 on Monday, reaching $118.06. The company’s stock had a trading volume of 69,705 shares, compared to its average volume of 518,555. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.39. Globe Life Inc. has a 12-month low of $102.23 and a 12-month high of $123.85. The company has a market capitalization of $11.11 billion, a P/E ratio of 12.67 and a beta of 0.78. The stock’s 50 day simple moving average is $112.81 and its 200-day simple moving average is $110.90.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, October 25th. The company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.06. Globe Life had a return on equity of 22.60% and a net margin of 16.95%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the business posted $2.15 earnings per share. The firm’s revenue was up 6.7% compared to the same quarter last year. As a group, equities analysts predict that Globe Life Inc. will post 10.6 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Friday, January 5th will be given a $0.225 dividend. The ex-dividend date is Thursday, January 4th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 0.76%. Globe Life’s dividend payout ratio (DPR) is presently 9.64%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Morgan Stanley lifted their price target on shares of Globe Life from $131.00 to $132.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 15th. JPMorgan Chase & Co. increased their target price on Globe Life from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Friday, October 6th. Piper Sandler increased their target price on Globe Life from $130.00 to $131.00 in a research report on Friday, July 28th. Jefferies Financial Group increased their target price on Globe Life from $115.00 to $118.00 and gave the stock a “hold” rating in a research report on Thursday, September 14th. Finally, StockNews.com started coverage on Globe Life in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Globe Life presently has a consensus rating of “Moderate Buy” and an average target price of $134.38.

Institutional Investors Weigh In On Globe Life

A number of institutional investors and hedge funds have recently made changes to their positions in GL. Sunbelt Securities Inc. bought a new position in Globe Life in the first quarter valued at $29,000. Allworth Financial LP increased its stake in Globe Life by 144.7% in the second quarter. Allworth Financial LP now owns 301 shares of the company’s stock valued at $33,000 after acquiring an additional 178 shares during the last quarter. AM Squared Ltd bought a new position in Globe Life in the first quarter valued at $44,000. Householder Group Estate & Retirement Specialist LLC bought a new position in Globe Life in the third quarter valued at $48,000. Finally, ZRC Wealth Management LLC bought a new position in Globe Life in the first quarter valued at $55,000. Hedge funds and other institutional investors own 80.04% of the company’s stock.

Globe Life Company Profile

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.