Globe Life Inc. (NYSE:GL) CEO Purchases $169,640.00 in Stock

Globe Life Inc. (NYSE:GL) CEO James Matthew Darden purchased 2,000 shares of Globe Life stock in a transaction dated Thursday, May 16th. The stock was acquired at an average price of $84.82 per share, with a total value of $169,640.00. Following the acquisition, the chief executive officer now owns 37,973 shares in the company, valued at approximately $3,220,869.86. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Globe Life Stock Up 2.7 %

NYSE:GL opened at $85.62 on Thursday. The company has a market cap of $7.90 billion, a PE ratio of 8.18 and a beta of 0.78. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $91.42 and its two-hundred day moving average is $111.51.

Globe Life (NYSE:GL) last released its earnings results on Monday, April 22nd. The company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Globe Life had a return on equity of 23.01% and a net margin of 18.07%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.53 EPS. Analysts anticipate that Globe Life Inc. will post 11.72 EPS for the current year.

Globe Life Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Friday, July 5th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Wednesday, July 3rd. Globe Life’s dividend payout ratio (DPR) is currently 9.17%.

Institutional Trading of Globe Life

Several large investors have recently made changes to their positions in GL. Private Trust Co. NA boosted its holdings in shares of Globe Life by 270.0% in the 4th quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after acquiring an additional 162 shares during the last quarter. Private Wealth Management Group LLC acquired a new position in shares of Globe Life in the 4th quarter valued at $27,000. BKM Wealth Management LLC acquired a new position in shares of Globe Life in the 4th quarter valued at $28,000. Lindbrook Capital LLC lifted its stake in shares of Globe Life by 62.2% in the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after purchasing an additional 92 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Globe Life by 177.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock valued at $34,000 after purchasing an additional 177 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GL has been the subject of several recent analyst reports. StockNews.com lowered shares of Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Raymond James reiterated a “strong-buy” rating on shares of Globe Life in a research note on Tuesday. Piper Sandler reduced their price objective on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. JPMorgan Chase & Co. boosted their price objective on shares of Globe Life from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Finally, Evercore ISI reduced their price objective on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating for the company in a research note on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $114.33.

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.