Globe Life Inc. (NYSE: GL – Get a rating) CEO Michel Shane Henrie sold 800 shares in a trade dated Friday, July 29. The shares were sold at an average price of $100.64, for a total transaction of $80,512.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available via the SEC website.
Globe Life is trading down 1.6%
GL opened at $99.09 on Tuesday. The company has a market capitalization of $9.77 billion, a P/E ratio of 14.10 and a beta of 0.88. The company’s 50-day moving average is $97.27 and its 200-day moving average is $99.71. Globe Life Inc. has a 52-week low of $85.25 and a 52-week high of $108.61. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt ratio of 0.22.
Globe Life (NYSE: GL – Get a rating) last released its quarterly earnings data on Wednesday, July 27. The company reported EPS of $2.07 for the quarter, beating analysts’ consensus estimate of $2.04 by $0.03. Globe Life had a return on equity of 9.06% and a net margin of 13.68%. The company posted revenue of $1.29 billion in the quarter, versus a consensus estimate of $1.33 billion. During the same period of the previous year, the company achieved EPS of $1.85. The company’s revenue increased 1.7% year over year.
Globe Life Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, August 1. Investors of record on Tuesday, July 5 received a dividend of $0.2075 per share. This represents an annualized dividend of $0.83 and a dividend yield of 0.84%. The ex-dividend date was Friday, July 1. Globe Life’s dividend payout ratio is currently 11.81%.
A Wall Street analyst gives his opinion
Several research companies have published reports on GL. JPMorgan Chase & Co. raised its price target on Globe Life shares from $108.00 to $112.00 in a Monday, July 11 research note. Piper Sandler raised her price target on Globe Life shares from $119.00 to $121.00 and gave the stock an “overweight” rating in a Friday, July 8 research note. Morgan Stanley reaffirmed a “holds” rating and set a price target of $109.00 (vs. $107.00) on Globe Life shares in a Thursday, July 28 research note. Finally, Evercore ISI upgraded Globe Life shares from an “in line” rating to an “outperforming” rating and raised its price target for the stock from $105.00 to $112.00 in a report from the Wednesday, June 15. One financial analyst has assigned the stock a sell rating, two have assigned a hold rating and three have assigned the stock a buy rating. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $110.71.
Hedge funds weigh on Globe Life
Hedge funds and other institutional investors have recently increased or reduced their stakes in the company. Wellington Management Group LLP increased its stake in Globe Life by 37.0% during the first quarter. Wellington Management Group LLP now owns 7,308,014 shares of the company valued at $735,187,000 after purchasing an additional 1,973,186 shares last quarter. Cooke & Bieler LP increased its position in Globe Life shares by 56.1% during the fourth quarter. Cooke & Bieler LP now owns 1,756,271 shares of the company valued at $164,598,000 after acquiring an additional 630,881 shares in the last quarter. Invesco Ltd. increased its position in Globe Life shares by 36.3% during the first quarter. Invesco Ltd. now owns 1,908,373 shares of the company valued at $191,981,000 after acquiring an additional 508,064 shares in the last quarter. Equity Investment Corp increased its position in Globe Life shares by 34.7% during the fourth quarter. Equity Investment Corp now owns 897,845 shares of the company valued at $84,146,000 after acquiring an additional 231,325 shares in the last quarter. Finally, Truist Financial Corp increased its position in Globe Life shares by 555.1% during the second quarter. Truist Financial Corp now owns 269,493 shares of the company valued at $26,267,000 after acquiring an additional 228,355 shares in the last quarter. Institutional investors hold 75.72% of the company’s shares.
Globe Life Company Profile
Globe Life Inc, through its subsidiaries, provides a variety of life and supplemental health insurance products and annuities to lower to middle income households in the United States. The Company operates through four segments: life insurance, supplementary health insurance, annuities and investments.
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