Insider Selling: Globe Life Inc. (NYSE:GL) CEO Sells 24,890 Shares of Stock

Globe Life Inc. (NYSE:GL) CEO James Matthew Darden sold 24,890 shares of the company’s 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 sale, the chief executive officer now owns 38,973 shares of the company’s stock, valued at approximately $4,735,998.96. The trade was a 38.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Globe Life Trading Up 0.0 %

GL traded up $0.06 during trading on Wednesday, hitting $121.51. The company’s stock had a trading volume of 514,679 shares, compared to its average volume of 579,946. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The stock’s fifty day moving average price is $113.67 and its 200-day moving average price is $107.57. The firm has a market capitalization of $10.20 billion, a P/E ratio of 10.17 and a beta of 0.81.

Globe Life (NYSE:GL) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 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%. Analysts anticipate that Globe Life Inc. will post 13.57 EPS for the current year.

Globe Life Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 6th were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a yield of 0.79%. Globe Life’s dividend payout ratio (DPR) is presently 8.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday. Morgan Stanley raised their price target on shares of Globe Life from $123.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $132.00 to $143.00 in a research note on Wednesday, January 8th. Raymond James increased their price target on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Piper Sandler upped their price objective on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.10.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. ExodusPoint Capital Management LP raised its holdings in shares of Globe Life by 76.3% during the 4th quarter. ExodusPoint Capital Management LP now owns 91,682 shares of the company’s stock valued at $10,224,000 after buying an additional 39,678 shares in the last quarter. World Investment Advisors grew its position in Globe Life by 3.8% during the 4th quarter. World Investment Advisors now owns 5,920 shares of the company’s stock worth $660,000 after acquiring an additional 216 shares during the last quarter. Bryce Point Capital LLC bought a new stake in shares of Globe Life in the 4th quarter worth approximately $1,779,000. Groupama Asset Managment bought a new stake in shares of Globe Life in the 4th quarter worth approximately $1,800,000. Finally, Diametric Capital LP bought a new stake in shares of Globe Life during the fourth quarter valued at approximately $373,000. 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.