Globe Life Inc. (NYSE:GL) EVP Rebecca E. Zorn Sells 2,320 Shares of Stock

Globe Life Inc. (NYSE:GL) EVP Rebecca E. Zorn sold 2,320 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total transaction of $179,336.00. Following the transaction, the executive vice president now owns 10,220 shares of the company’s stock, valued at approximately $790,006. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Globe Life Stock Up 0.3 %

GL stock opened at $75.75 on Friday. The company has a fifty day moving average price of $106.65 and a 200 day moving average price of $115.29. Globe Life Inc. has a 12 month low of $38.95 and a 12 month high of $132.00. The company has a market cap of $7.12 billion, a price-to-earnings ratio of 7.23 and a beta of 0.69. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL) last announced its quarterly earnings data on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Globe Life had a return on equity of 23.91% and a net margin of 18.07%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.53 EPS. Sell-side analysts expect that Globe Life Inc. will post 11.73 earnings per share for the current year.

Globe Life Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a yield of 1.27%. This is an increase from Globe Life’s previous quarterly dividend of $0.23. Globe Life’s dividend payout ratio is presently 9.17%.

Wall Street Analysts Forecast Growth

GL has been the subject of several research analyst reports. Wells Fargo & Company lowered their target price on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday. Piper Sandler lowered their target price on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday. StockNews.com cut shares of Globe Life from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Truist Financial lowered their target price on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. upped their target price on shares of Globe Life from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Globe Life currently has a consensus rating of “Moderate Buy” and an average price target of $114.33.

Hedge Funds Weigh In On Globe Life

A number of large investors have recently bought and sold shares of GL. Norges Bank purchased a new position in Globe Life during the 4th quarter worth $123,682,000. Corient Private Wealth LLC increased its holdings in shares of Globe Life by 1,367.8% in the 4th quarter. Corient Private Wealth LLC now owns 362,535 shares of the company’s stock valued at $44,128,000 after purchasing an additional 337,836 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Globe Life by 169.4% in the 4th quarter. California Public Employees Retirement System now owns 484,982 shares of the company’s stock valued at $59,032,000 after purchasing an additional 304,942 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of Globe Life by 141.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 466,896 shares of the company’s stock valued at $50,766,000 after purchasing an additional 273,515 shares in the last quarter. Finally, Nuance Investments LLC purchased a new position in shares of Globe Life in the 4th quarter valued at about $30,560,000. 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.