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

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

Globe Life Stock Performance

Shares of GL opened at $121.80 on Friday. Globe Life Inc. has a 52 week low of $38.95 and a 52 week high of $132.00. The stock has a 50 day moving average price of $114.66 and a two-hundred day moving average price of $108.08. The firm has a market capitalization of $10.22 billion, a P/E ratio of 10.19 and a beta of 0.81. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.05 and a current ratio of 0.05.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, topping 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%. Equities analysts forecast that Globe Life Inc. will post 13.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Globe Life

Hedge funds and other institutional investors have recently modified their holdings of the business. Versant Capital Management Inc lifted its stake in 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 last quarter. Rakuten Securities Inc. purchased a new position in Globe Life in the fourth quarter valued at approximately $28,000. Albion Financial Group UT purchased a new position in Globe Life in the fourth quarter valued at approximately $28,000. Riverview Trust Co purchased a new position in Globe Life in the third quarter valued at approximately $32,000. Finally, Avalon Trust Co purchased a new position in Globe Life in the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Wall Street Analysts Forecast Growth

GL has been the subject of a number of research analyst reports. Piper Sandler boosted their target price on Globe Life from $118.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods boosted their target price on Globe Life from $137.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday. Truist Financial boosted their target price on Globe Life from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Evercore ISI raised Globe Life from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $132.00 to $143.00 in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group boosted 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. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and a consensus price target 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.