Rebecca E. Zorn Sells 2,320 Shares of Globe Life Inc. (NYSE:GL) Stock

Globe Life Inc. (NYSE:GL) EVP Rebecca E. Zorn sold 2,320 shares of Globe Life stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $77.30, for a total transaction of $179,336.00. Following the sale, the executive vice president now directly owns 10,220 shares of the company’s stock, valued at $790,006. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Globe Life Stock Up 0.3 %

Shares of Globe Life stock opened at $75.75 on Friday. The company’s 50 day moving average price is $106.65 and its 200-day moving average price is $115.30. Globe Life Inc. has a 52-week low of $38.95 and a 52-week high of $132.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a market capitalization of $7.12 billion, a price-to-earnings ratio of 7.23 and a beta of 0.69.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Monday, April 22nd. The company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.42 billion. Globe Life had a return on equity of 23.91% and a net margin of 18.07%. Globe Life’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the business earned $2.53 EPS. Equities research analysts forecast that Globe Life Inc. will post 11.73 EPS for the current year.

Globe Life Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a dividend of $0.24 per share. This is a positive change from Globe Life’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.96 dividend on an annualized basis and a yield of 1.27%. Globe Life’s dividend payout ratio is presently 9.17%.

Institutional Investors Weigh In On Globe Life

Large investors have recently made changes to their positions in the business. Private Wealth Management Group LLC purchased a new stake in Globe Life in the fourth quarter worth $27,000. Private Trust Co. NA lifted its position 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 worth $27,000 after purchasing an additional 162 shares during the period. BKM Wealth Management LLC purchased a new stake in shares of Globe Life in the 4th quarter worth about $28,000. Lindbrook Capital LLC boosted its stake in shares of Globe Life by 62.2% during 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 in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Globe Life by 177.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock valued at $34,000 after buying an additional 177 shares during the period. 81.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on GL. StockNews.com lowered Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Wells Fargo & Company dropped their target price on Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a research report on Wednesday. Piper Sandler reduced their price target on shares of Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday. 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 report on Thursday, February 8th. Finally, Evercore ISI reduced their target price on shares of Globe Life from $125.00 to $75.00 and set an “in-line” rating on the stock in a report on Friday, April 12th. 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. Based on data from MarketBeat.com, the stock currently 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.