Globe Life Inc. (NYSE:GL) CEO James Matthew Darden Sells 24,890 Shares

Globe Life Inc. (NYSE:GL) CEO James Matthew Darden sold 24,890 shares of Globe Life stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total value of $3,024,632.80. Following the completion of the sale, the chief executive officer now directly owns 38,973 shares of the company’s stock, valued at $4,735,998.96. The trade was a 38.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Globe Life Stock Performance

GL stock traded up $0.06 during trading on Wednesday, hitting $121.51. The company had a trading volume of 514,679 shares, compared to its average volume of 579,946. The firm has a market cap of $10.20 billion, a PE ratio of 10.17 and a beta of 0.81. Globe Life Inc. has a 1-year low of $38.95 and a 1-year high of $132.00. The firm has a 50-day moving average price of $113.67 and a 200-day moving average price of $107.57. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL) last posted its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.12 by $0.02. Globe Life had a return on equity of 22.32% and a net margin of 18.53%. On average, analysts expect that Globe Life Inc. will post 13.57 earnings per share for the current year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, January 6th. This represents a $0.96 annualized dividend and a yield of 0.79%. Globe Life’s dividend payout ratio is currently 8.03%.

Hedge Funds Weigh In On Globe Life

Several large investors have recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in Globe Life by 6.8% during the 4th quarter. Wellington Management Group LLP now owns 5,117,122 shares of the company’s stock valued at $570,661,000 after purchasing an additional 326,307 shares during the period. State Street Corp boosted its stake in shares of Globe Life by 3.4% during the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company’s stock worth $375,480,000 after acquiring an additional 115,432 shares in the last quarter. Geode Capital Management LLC grew its holdings in Globe Life by 3.5% during the third quarter. Geode Capital Management LLC now owns 2,618,764 shares of the company’s stock valued at $276,994,000 after purchasing an additional 89,299 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Globe Life by 22.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock worth $160,949,000 after acquiring an additional 277,108 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Globe Life by 2.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,284,322 shares of the company’s stock valued at $143,228,000 after buying an additional 36,051 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Analysts Set New Price Targets

GL has been the topic of a number of recent research reports. Evercore ISI upgraded Globe Life from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. Raymond James increased their price objective on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 15th. Piper Sandler increased their price objective on Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Jefferies Financial Group increased their target price on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods increased their price objective on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.10.

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.