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 that occurred on Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the transaction, the chief executive officer now directly owns 38,973 shares of the company’s stock, valued at $4,735,998.96. This trade represents a 38.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Globe Life Price Performance

Shares of GL stock opened at $123.58 on Friday. The company has a market capitalization of $10.37 billion, a PE ratio of 10.34 and a beta of 0.81. The firm has a fifty day simple moving average of $114.32 and a 200-day simple moving average of $107.77. 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 twelve month low of $38.95 and a twelve month high of $132.00.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GL. Norges Bank purchased a new position in shares of Globe Life in the fourth quarter valued at $112,454,000. Nuance Investments LLC boosted its stake in shares of Globe Life by 155.6% in the third quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock valued at $120,629,000 after purchasing an additional 693,346 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Globe Life in the fourth quarter valued at $61,238,000. Swedbank AB purchased a new position in shares of Globe Life in the fourth quarter valued at $52,414,000. Finally, Marshall Wace LLP boosted its stake in Globe Life by 1,702.5% during the 4th quarter. Marshall Wace LLP now owns 484,692 shares of the company’s stock valued at $54,053,000 after acquiring an additional 457,802 shares during the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GL shares. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. Piper Sandler upped their price target on shares of Globe Life from $118.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Truist Financial increased their price objective on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Morgan Stanley increased their price objective 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. Finally, BMO Capital Markets assumed coverage on shares of Globe Life in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $114.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Globe Life presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.10.

Globe Life Company Profile

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.