Globe Life Inc. (NYSE:GL) CEO Sells $953,160.00 in Stock

Globe Life Inc. (NYSE:GL) CEO Larry M. Hutchison sold 12,000 shares of Globe Life stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $79.43, for a total value of $953,160.00. Following the completion of the sale, the chief executive officer now directly owns 678,200 shares in the company, valued at $53,869,426. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of NYSE:GL opened at $79.74 on Friday. Globe Life Inc. has a 1 year low of $56.74 and a 1 year high of $111.43. The business has a 50 day simple moving average of $75.17 and a two-hundred day simple moving average of $83.14. The firm has a market capitalization of $8.49 billion, a PE ratio of 11.99 and a beta of 1.10. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.07 and a quick ratio of 0.07.

Globe Life (NYSE:GL) last announced its earnings results 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 quarter in the previous year, the business earned $1.67 earnings per share. Equities research analysts expect that Globe Life Inc. will post 6.87 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $0.75 annualized dividend and a dividend yield of 0.94%. Globe Life’s dividend payout ratio (DPR) is presently 11.11%.

Several brokerages have recently issued reports on GL. SunTrust Banks reduced their target price on Globe Life from $108.00 to $79.00 and set a “hold” rating on the stock in a report on Friday, April 24th. Zacks Investment Research cut Globe Life from a “hold” rating to a “sell” rating and set a $76.00 target price on the stock. in a report on Friday, June 26th. Morgan Stanley lifted their target price on Globe Life from $78.00 to $80.00 and gave the stock an “underweight” rating in a report on Thursday, July 23rd. Piper Sandler dropped their price target on Globe Life from $87.00 to $77.00 and set a “neutral” rating for the company in a research report on Thursday, July 2nd. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Globe Life in a research report on Thursday, July 23rd. Five research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $84.86.

Large investors have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. purchased a new position in shares of Globe Life during the first quarter valued at approximately $25,000. HHM Wealth Advisors LLC purchased a new position in shares of Globe Life during the first quarter valued at approximately $27,000. Ropes Wealth Advisors LLC purchased a new position in shares of Globe Life during the second quarter valued at approximately $33,000. Whittier Trust Co. boosted its position in shares of Globe Life by 100.4% during the first quarter. Whittier Trust Co. now owns 477 shares of the company’s stock valued at $34,000 after buying an additional 239 shares during the period. Finally, Citizens Financial Group Inc RI boosted its holdings in shares of Globe Life by 128.3% in the first quarter. Citizens Financial Group Inc RI now owns 484 shares of the company’s stock valued at $35,000 after purchasing an additional 272 shares during the period. Institutional investors and hedge funds own 74.04% of the company’s stock.

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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Insider Buying and Selling by Quarter for Globe Life (NYSE:GL)

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