James Matthew Darden Sells 24,890 Shares of Globe Life Inc. (NYSE:GL) Stock

Globe Life Inc. (NYSE:GL) CEO James Matthew Darden sold 24,890 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $121.52, for a total transaction of $3,024,632.80. Following the transaction, the chief executive officer now owns 38,973 shares in the company, valued at approximately $4,735,998.96. This trade represents a 38.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Globe Life Stock Up 1.7 %

Shares of NYSE GL opened at $123.58 on Friday. Globe Life Inc. has a 12-month low of $38.95 and a 12-month high of $132.00. The company has a market capitalization of $10.37 billion, a PE ratio of 10.34 and a beta of 0.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.05 and a quick ratio of 0.05. The firm’s 50-day moving average is $114.32 and its two-hundred day moving average is $107.77.

Globe Life (NYSE:GL) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.12 by $0.02. Globe Life had a net margin of 18.53% and a return on equity of 22.32%. Equities analysts anticipate that Globe Life Inc. will post 13.57 EPS for the current fiscal year.

Analysts Set New Price Targets

GL has been the topic of a number of research analyst reports. Truist Financial boosted their price objective on shares of Globe Life from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods boosted their price objective on shares of Globe Life from $137.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday. Evercore ISI raised shares of Globe Life from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $132.00 to $143.00 in a report on Wednesday, January 8th. Jefferies Financial Group boosted their price objective on shares of Globe Life from $107.00 to $114.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Finally, Morgan Stanley boosted their price objective on shares of Globe Life from $123.00 to $125.00 and gave the stock an “equal weight” rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $133.10.

Hedge Funds Weigh In On Globe Life

A number of institutional investors have recently modified their holdings of GL. Norges Bank acquired a new position in shares of Globe Life in the fourth quarter valued at approximately $112,454,000. Nuance Investments LLC raised its position in shares of Globe Life by 155.6% in the third quarter. Nuance Investments LLC now owns 1,138,978 shares of the company’s stock valued at $120,629,000 after buying an additional 693,346 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Globe Life in the fourth quarter valued at approximately $61,238,000. Swedbank AB acquired a new position in shares of Globe Life in the fourth quarter valued at approximately $52,414,000. Finally, Marshall Wace LLP raised its position in shares of Globe Life by 1,702.5% in the fourth quarter. Marshall Wace LLP now owns 484,692 shares of the company’s stock valued at $54,053,000 after buying an additional 457,802 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

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.