Globe Life Inc. (NYSE:GL – Get Rating) CEO Frank M. Svoboda sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $121.26, for a total value of $1,212,600.00. Following the completion of the sale, the chief executive officer now owns 3,370 shares of the company’s stock, valued at $408,646.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Globe Life Stock Performance
GL stock opened at $121.69 on Wednesday. Globe Life Inc. has a twelve month low of $87.87 and a twelve month high of $123.85. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.33. The company has a market cap of $11.74 billion, a P/E ratio of 16.29 and a beta of 0.82. The business’s fifty day moving average is $120.56 and its 200-day moving average is $112.93.
Globe Life (NYSE:GL – Get Rating) last released its earnings results on Wednesday, February 1st. The company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.07. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. Globe Life had a return on equity of 15.03% and a net margin of 14.18%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.70 earnings per share. Equities research analysts forecast that Globe Life Inc. will post 10.37 EPS for the current year.
Globe Life Increases Dividend
Hedge Funds Weigh In On Globe Life
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Globe Life by 7.2% in the 1st quarter. JPMorgan Chase & Co. now owns 93,908 shares of the company’s stock valued at $9,448,000 after buying an additional 6,299 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Globe Life by 3.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 14,549 shares of the company’s stock worth $1,464,000 after acquiring an additional 538 shares in the last quarter. American Century Companies Inc. raised its position in shares of Globe Life by 26.8% during the first quarter. American Century Companies Inc. now owns 13,456 shares of the company’s stock worth $1,354,000 after purchasing an additional 2,848 shares during the period. Cetera Advisor Networks LLC lifted its holdings in shares of Globe Life by 3.0% during the 1st quarter. Cetera Advisor Networks LLC now owns 4,740 shares of the company’s stock valued at $477,000 after purchasing an additional 137 shares in the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of Globe Life by 23.9% in the 1st quarter. MetLife Investment Management LLC now owns 25,421 shares of the company’s stock valued at $2,557,000 after purchasing an additional 4,897 shares during the period. 81.04% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on GL shares. JPMorgan Chase & Co. upped their price target on shares of Globe Life from $112.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, January 6th. Morgan Stanley lifted their price objective on shares of Globe Life from $132.00 to $133.00 and gave the company an “underweight” rating in a research note on Friday, February 24th. Piper Sandler lifted their price target on shares of Globe Life from $127.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, December 20th. Credit Suisse Group upped their target price on shares of Globe Life from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, December 19th. Finally, Raymond James raised their price target on shares of Globe Life from $138.00 to $141.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, February 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $129.57.
About Globe Life
Globe Life, Inc is a holding company, which engages in the provision of individual life and supplemental health insurance products and services. It operates through the following segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. The Life Insurance segment includes traditional and interest-sensitive whole life insurance as well as term life insurances.
Featured Stories
- Get a free copy of the StockNews.com research report on Globe Life (GL)
- Will Q4 Results Send Zoom Video Stock Higher?
- Is Amazon a Blue Chip Stock?
- Occidental Petroleum Pulls Back To The Sweet Spot
- Should You Take a Cruise in Royal Caribbean Stock?
- Is Target Stock Aiming For A Breakout In 2023?
Receive News & Ratings for Globe Life Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globe Life and related companies with MarketBeat.com's FREE daily email newsletter.
