Globe Life Inc. (NYSE:GL) CEO Frank M. Svoboda Sells 11,000 Shares of Stock

Globe Life Inc. (NYSE:GL) CEO Frank M. Svoboda sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the completion of the transaction, the chief executive officer now owns 18,948 shares of the company’s stock, valued at $2,317,529.88. This trade represents a 36.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Globe Life Stock Performance

NYSE GL opened at $121.80 on Friday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. The firm’s fifty day moving average price is $114.66 and its two-hundred day moving average price is $107.98. Globe Life Inc. has a 1 year low of $38.95 and a 1 year high of $132.00. The firm has a market capitalization of $10.22 billion, a P/E ratio of 10.19 and a beta of 0.81.

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

Analysts Set New Price Targets

Several brokerages recently commented on GL. Truist Financial increased their target price on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods increased their target price on shares of Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday. Morgan Stanley increased their target price on shares of Globe Life from $123.00 to $125.00 and gave the stock an “equal weight” rating in a report on Tuesday. Evercore ISI upgraded shares of Globe Life from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Finally, Piper Sandler increased their target price on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Globe Life currently has an average rating of “Moderate Buy” and an average price target of $133.10.

Hedge Funds Weigh In On Globe Life

Several large investors have recently modified their holdings of GL. Versant Capital Management Inc raised its position in shares of Globe Life by 388.0% in the fourth quarter. Versant Capital Management Inc now owns 244 shares of the company’s stock valued at $27,000 after purchasing an additional 194 shares during the period. Albion Financial Group UT bought a new position in shares of Globe Life in the fourth quarter valued at about $28,000. Rakuten Securities Inc. bought a new position in shares of Globe Life in the fourth quarter valued at about $28,000. Riverview Trust Co bought a new position in shares of Globe Life in the third quarter valued at about $32,000. Finally, Avalon Trust Co bought a new position in shares of Globe Life in the fourth quarter valued at about $41,000. 81.61% of the stock is owned by institutional investors.

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.