Mark A. Blinn Sells 3,000 Shares of Globe Life Inc. (NYSE:GL) Stock

Globe Life Inc. (NYSE:GL) Director Mark A. Blinn sold 3,000 shares of Globe Life stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $113.23, for a total transaction of $339,690.00. Following the completion of the transaction, the director now owns 5,122 shares of the company’s stock, valued at $579,964.06. The trade was a 36.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Globe Life Stock Performance

NYSE:GL opened at $111.56 on Wednesday. The stock has a market cap of $9.36 billion, a P/E ratio of 9.44 and a beta of 0.80. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50. The business’s 50-day moving average price is $108.57 and its two-hundred day moving average price is $101.59. Globe Life Inc. has a twelve month low of $38.95 and a twelve month high of $132.00.

Globe Life (NYSE:GL) last announced its earnings results on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the firm posted $2.71 earnings per share. Globe Life’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities analysts predict that Globe Life Inc. will post 12.31 EPS for the current fiscal year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Monday, January 6th. Globe Life’s dividend payout ratio is currently 8.12%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of Globe Life from $110.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods raised their price target on Globe Life from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Raymond James boosted their price objective on Globe Life from $160.00 to $188.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 15th. Jefferies Financial Group increased their price objective on Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Finally, TD Cowen initiated coverage on Globe Life in a report on Wednesday, October 9th. They set a “buy” rating and a $150.00 target price for the company. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $127.10.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. D. E. Shaw & Co. Inc. lifted its stake in Globe Life by 398.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,074,628 shares of the company’s stock worth $88,420,000 after purchasing an additional 859,146 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Globe Life by 177.0% during the 2nd quarter. Millennium Management LLC now owns 1,279,818 shares of the company’s stock valued at $105,303,000 after buying an additional 817,760 shares in the last quarter. Nuance Investments LLC lifted its position in Globe Life by 155.6% in the 3rd quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock worth $120,629,000 after buying an additional 693,346 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Globe Life by 15,398.7% in the third quarter. International Assets Investment Management LLC now owns 336,631 shares of the company’s stock worth $356,530,000 after buying an additional 334,459 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Globe Life by 22.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,675 shares of the company’s stock valued at $160,949,000 after acquiring an additional 277,108 shares during the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

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.