Globe Life (NYSE:GL) Stock Price Up 4.8% After Insider Buying Activity

Shares of Globe Life Inc. (NYSE:GL) traded up 4.8% on Monday following insider buying activity. The company traded as high as $79.74 and last traded at $79.42. 526,765 shares were traded during mid-day trading, a decline of 75% from the average session volume of 2,111,711 shares. The stock had previously closed at $75.75.

Specifically, EVP Rebecca E. Zorn sold 2,320 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total value of $179,336.00. Following the completion of the transaction, the executive vice president now owns 10,220 shares in the company, valued at $790,006. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director David A. Rodriguez acquired 1,500 shares of Globe Life stock in a transaction that occurred on Wednesday, April 24th. The stock was bought at an average price of $79.72 per share, for a total transaction of $119,580.00. Following the completion of the transaction, the director now owns 4,192 shares in the company, valued at $334,186.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rebecca E. Zorn sold 2,320 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $77.30, for a total value of $179,336.00. Following the sale, the executive vice president now owns 10,220 shares of the company’s stock, valued at approximately $790,006. The disclosure for this sale can be found here. Company insiders own 1.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company decreased their price objective on Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Truist Financial decreased their price objective on Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, April 24th. Piper Sandler reduced their price target on Globe Life from $130.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Evercore ISI cut their price objective on 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. Finally, Keefe, Bruyette & Woods upgraded Globe Life from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $130.00 to $110.00 in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $114.33.

Globe Life Stock Down 2.5 %

The stock has a market capitalization of $7.16 billion, a price-to-earnings ratio of 7.28 and a beta of 0.69. The business has a fifty day moving average of $105.71 and a 200 day moving average of $115.07. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.05 and a quick ratio of 0.05.

Globe Life (NYSE:GL) last released its quarterly earnings data on Monday, April 22nd. The company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Globe Life had a net margin of 18.07% and a return on equity of 23.91%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the company posted $2.53 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. As a group, equities analysts predict that Globe Life Inc. will post 11.73 earnings per share for the current year.

Globe Life Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.26%. This is a boost from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, April 4th. Globe Life’s dividend payout ratio is 9.17%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GL. Private Wealth Management Group LLC acquired a new stake in shares of Globe Life in the fourth quarter valued at $27,000. Private Trust Co. NA raised its stake in shares of Globe Life by 270.0% in the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock valued at $27,000 after acquiring an additional 162 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in shares of Globe Life in the fourth quarter valued at $28,000. Lindbrook Capital LLC raised its stake in shares of Globe Life by 62.2% in the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after acquiring an additional 92 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Globe Life by 177.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock valued at $34,000 after acquiring an additional 177 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

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.