Globe Life Inc. (NYSE:GL) Director Mark A. Blinn Sells 3,000 Shares

Globe Life Inc. (NYSE:GL) Director Mark A. Blinn sold 3,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the transaction, the director now directly owns 5,122 shares in the company, valued at approximately $579,964.06. This represents a 36.94 % decrease in their ownership of the stock. 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 traded up $0.36 on Tuesday, reaching $111.56. 571,217 shares of the stock were exchanged, compared to its average volume of 667,129. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life Inc. has a one year low of $38.95 and a one year high of $132.00. The firm has a market capitalization of $9.36 billion, a PE ratio of 9.44 and a beta of 0.80. The company’s 50-day simple moving average is $108.48 and its two-hundred day simple moving average is $101.39.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.43. Globe Life had a return on equity of 22.91% and a net margin of 19.04%. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the business posted $2.71 earnings per share. The firm’s revenue was up 5.1% on a year-over-year basis. Analysts expect that Globe Life Inc. will post 12.31 EPS for the current fiscal year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Monday, January 6th. Globe Life’s payout ratio is 8.12%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Jefferies Financial Group lifted their price target on Globe Life from $107.00 to $114.00 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Raymond James raised their target price on Globe Life from $160.00 to $188.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 15th. Truist Financial upped their price target on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Morgan Stanley lifted their price objective on Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company increased their price target on Globe Life from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Five equities research 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. According to data from MarketBeat, Globe Life has an average rating of “Moderate Buy” and an average target price of $127.10.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Versant Capital Management Inc lifted its stake in shares of Globe Life by 388.0% in the 4th 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 last quarter. Riverview Trust Co bought a new stake in shares of Globe Life in the 3rd quarter worth about $32,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Globe Life by 88.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company’s stock worth $50,000 after purchasing an additional 281 shares during the period. True Wealth Design LLC bought a new position in Globe Life during the 3rd quarter valued at about $59,000. Finally, Quarry LP raised its position in Globe Life by 47.5% in the 2nd quarter. Quarry LP now owns 838 shares of the company’s stock worth $69,000 after purchasing an additional 270 shares during the period. 81.61% of the stock is owned by hedge funds and other 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.