Globe Life Inc. (NYSE:GL) CFO Frank M. Svoboda sold 8,050 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $80.25, for a total value of $646,012.50. Following the completion of the transaction, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $802,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of GL opened at $79.60 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.07 and a current ratio of 0.07. The stock has a 50 day simple moving average of $75.06 and a 200 day simple moving average of $83.01. Globe Life Inc. has a 52-week low of $56.74 and a 52-week high of $111.43. The firm has a market capitalization of $8.47 billion, a PE ratio of 11.71 and a beta of 1.10.
Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.12. Globe Life had a return on equity of 10.60% and a net margin of 15.84%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the firm earned $1.67 EPS. Equities research analysts predict that Globe Life Inc. will post 6.88 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, July 6th were given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date was Thursday, July 2nd. Globe Life’s dividend payout ratio (DPR) is currently 11.11%.
Large investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. acquired a new position in Globe Life during the 1st quarter worth approximately $25,000. HHM Wealth Advisors LLC acquired a new position in Globe Life during the 1st quarter worth approximately $27,000. Ropes Wealth Advisors LLC acquired a new position in Globe Life during the 2nd quarter worth approximately $33,000. Whittier Trust Co. boosted its position in Globe Life by 100.4% during the 1st quarter. Whittier Trust Co. now owns 477 shares of the company’s stock worth $34,000 after acquiring an additional 239 shares during the last quarter. Finally, Citizens Financial Group Inc RI boosted its position in Globe Life by 128.3% during the 1st quarter. Citizens Financial Group Inc RI now owns 484 shares of the company’s stock worth $35,000 after acquiring an additional 272 shares during the last quarter. 74.04% of the stock is owned by hedge funds and other institutional investors.
Several research firms have weighed in on GL. Piper Sandler cut their target price on Globe Life from $87.00 to $77.00 and set a “neutral” rating on the stock in a research note on Thursday, July 2nd. Morgan Stanley increased their target price on Globe Life from $78.00 to $80.00 and gave the company an “underweight” rating in a research note on Thursday, July 23rd. SunTrust Banks cut their target price on Globe Life from $108.00 to $79.00 and set a “hold” rating on the stock in a research note on Friday, April 24th. Zacks Investment Research lowered Globe Life from a “hold” rating to a “sell” rating and set a $76.00 target price on the stock. in a research note on Friday, June 26th. Finally, Credit Suisse Group reissued a “buy” rating on shares of Globe Life in a research note on Thursday, July 23rd. Five research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $84.86.
About Globe Life
Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.
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