Thomas Peter Kalmbach Purchases 500 Shares of Globe Life Inc. (NYSE:GL) Stock

Globe Life Inc. (NYSE:GLGet Free Report) CFO Thomas Peter Kalmbach purchased 500 shares of Globe Life stock in a transaction dated Friday, May 17th. The shares were purchased at an average price of $84.43 per share, with a total value of $42,215.00. Following the completion of the transaction, the chief financial officer now directly owns 18,080 shares in the company, valued at $1,526,494.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Globe Life Stock Performance

NYSE:GL opened at $83.33 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.05 and a current ratio of 0.05. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The business has a 50 day moving average price of $92.09 and a 200-day moving average price of $111.69. The firm has a market cap of $7.69 billion, a PE ratio of 7.96 and a beta of 0.78.

Globe Life (NYSE:GLGet Free Report) 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 23.01% 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 predict that Globe Life Inc. will post 11.72 earnings per share for the current year.

Globe Life Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Friday, July 5th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Wednesday, July 3rd. Globe Life’s payout ratio is 9.17%.

Institutional Investors Weigh In On Globe Life

Several institutional investors and hedge funds have recently bought and sold shares of the business. Private Trust Co. NA lifted its stake in Globe Life by 270.0% in the fourth quarter. Private Trust Co. NA now owns 222 shares of the company’s stock worth $27,000 after acquiring an additional 162 shares during the period. Private Wealth Management Group LLC purchased a new stake in shares of Globe Life in the 4th quarter worth about $27,000. BKM Wealth Management LLC bought a new stake in shares of Globe Life during the 4th quarter valued at about $28,000. Lindbrook Capital LLC increased its position in shares of Globe Life by 62.2% during the fourth quarter. Lindbrook Capital LLC now owns 240 shares of the company’s stock valued at $29,000 after buying an additional 92 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Globe Life by 177.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 277 shares of the company’s stock worth $34,000 after buying an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on GL shares. Keefe, Bruyette & Woods upgraded Globe Life from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $130.00 to $110.00 in a research note on Wednesday, April 24th. Wells Fargo & Company dropped their price objective on shares of Globe Life from $132.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Truist Financial cut their price objective on Globe Life from $125.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, April 24th. Piper Sandler decreased their price objective on Globe Life from $130.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Finally, StockNews.com lowered Globe Life from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $114.33.

Read Our Latest Stock Report on GL

About Globe Life

(Get Free Report)

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.

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