Globe Life Inc. (NYSE:GL - Get Free Report) CEO Frank M. Svoboda sold 11,000 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $122.31, for a total transaction of $1,345,410.00. Following the transaction, the chief executive officer now directly owns 18,948 shares in the company, valued at approximately $2,317,529.88. This represents a 36.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Globe Life Trading Down 1.4 %
Shares of Globe Life stock opened at $121.80 on Friday. The company has a market capitalization of $10.22 billion, a price-to-earnings ratio of 10.19 and a beta of 0.81. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The firm's 50-day moving average price is $114.66 and its two-hundred day moving average price is $107.98.
Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share for the quarter, beating analysts' consensus estimates of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. On average, analysts forecast that Globe Life Inc. will post 13.57 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
GL has been the topic of a number of recent research reports. Truist Financial raised their price target 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. Jefferies Financial Group raised their price target on shares of Globe Life from $107.00 to $114.00 and gave the stock a "hold" rating in a research report on Tuesday, December 10th. Evercore ISI raised shares of Globe Life from an "in-line" rating to an "outperform" rating and raised their price target for the stock from $132.00 to $143.00 in a research report on Wednesday, January 8th. BMO Capital Markets initiated coverage on shares of Globe Life in a research report on Thursday, January 23rd. They set a "market perform" rating and a $114.00 price target on the stock. Finally, 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 note on Tuesday. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Globe Life has a consensus rating of "Moderate Buy" and an average price target of $133.10.
View Our Latest Analysis on Globe Life
Institutional Investors Weigh In On Globe Life
Hedge funds have recently made changes to their positions in the stock. State Street Corp raised its holdings in Globe Life by 3.4% in the 3rd quarter. State Street Corp now owns 3,545,272 shares of the company's stock valued at $375,480,000 after buying an additional 115,432 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Globe Life by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 105,315 shares of the company's stock valued at $11,154,000 after buying an additional 8,663 shares during the last quarter. Merit Financial Group LLC bought a new position in Globe Life in the 4th quarter valued at approximately $487,000. Wealth Enhancement Advisory Services LLC raised its holdings in Globe Life by 85.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,779 shares of the company's stock valued at $2,095,000 after buying an additional 9,141 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in Globe Life by 56.0% in the 4th quarter. Pacer Advisors Inc. now owns 10,199 shares of the company's stock valued at $1,137,000 after buying an additional 3,662 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.
About Globe Life
(
Get Free Report)
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.
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