Globe Life Inc. (NYSE:GL) Director Purchases $119,580.00 in Stock

Globe Life Inc. (NYSE:GL) Director David A. Rodriguez bought 1,500 shares of the stock in a transaction on Wednesday, April 24th. The shares were bought at an average cost of $79.72 per share, with a total value of $119,580.00. Following the purchase, the director now owns 4,192 shares of the company’s stock, valued at $334,186.24. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Globe Life Stock Performance

Shares of GL opened at $75.75 on Monday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.36. The firm has a market cap of $7.12 billion, a PE ratio of 7.23 and a beta of 0.69. The company’s 50 day simple moving average is $106.65 and its 200-day simple moving average is $115.32. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00.

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

Globe Life Increases Dividend

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

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Piper Sandler reduced their price target on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods raised shares of Globe Life from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $130.00 to $110.00 in a research report on Wednesday, April 24th. Truist Financial reduced their price target on shares of Globe Life from $125.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. Evercore ISI reduced their target price on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a report on Friday, April 12th. Finally, Wells Fargo & Company dropped their price target on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.33.

Institutional Investors Weigh In On Globe Life

Hedge funds and other institutional investors have recently bought and sold shares of the business. Private Trust Co. NA lifted its holdings in Globe Life by 270.0% in the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after acquiring an additional 162 shares during the period. Private Wealth Management Group LLC acquired a new stake in Globe Life in the fourth quarter valued at $27,000. BKM Wealth Management LLC acquired a new position in shares of Globe Life during the 4th quarter worth $28,000. Lindbrook Capital LLC raised its stake in shares of Globe Life by 62.2% during the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock worth $29,000 after buying an additional 92 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Globe Life by 177.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock worth $34,000 after buying an additional 177 shares during the last quarter. Institutional investors and hedge funds own 81.61% 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- and middle-income families in the United States. The company operates in four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.