Globe Life Inc. (NYSE:GL) CEO Frank M. Svoboda Sells 12,500 Shares

Key Points

• CEO Frank M. Svoboda sold 12,500 shares of Globe Life at an average price of $141.38, resulting in a total transaction of approximately $1.77 million. This sale represents a 27.63% reduction in his ownership of the stock.
• Globe Life's stock price decreased by 0.5% to $140.41 following the CEO's stock sale, while the company reported Q2 earnings per share of $3.27, beating estimates but slightly missing revenue expectations.
• Several analysts have upgraded Globe Life's rating recently, with Wells Fargo increasing its price target to $150.00 and JPMorgan raising their target to $160.00, indicating a generally positive outlook among investment firms.

Globe Life Inc. (NYSE:GL - Get Free Report) CEO Frank M. Svoboda sold 12,500 shares of the stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $141.38, for a total transaction of $1,767,250.00. Following the completion of the transaction, the chief executive officer directly owned 32,747 shares of the company's stock, valued at $4,629,770.86. This trade represents a 27.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Globe Life Stock Down 0.5%

Globe Life stock traded down $0.64 during midday trading on Thursday, reaching $140.41. The stock had a trading volume of 617,849 shares, compared to its average volume of 754,857. The stock has a market capitalization of $11.59 billion, a P/E ratio of 10.88 and a beta of 0.56. Globe Life Inc. has a 1-year low of $86.10 and a 1-year high of $144.00. The firm's fifty day simple moving average is $122.58 and its 200-day simple moving average is $122.57. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $3.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.25 by $0.02. The company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.50 billion. Globe Life had a return on equity of 21.55% and a net margin of 18.11%. The business's revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.97 EPS. As a group, analysts expect that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on GL. Wall Street Zen upgraded Globe Life from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Wells Fargo & Company increased their price target on shares of Globe Life from $144.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. lifted their price objective on Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Morgan Stanley upped their target price on shares of Globe Life from $127.00 to $135.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Globe Life from $145.00 to $155.00 and gave the company an "outperform" rating in a research report on Monday. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $149.18.

Institutional Investors Weigh In On Globe Life

Several hedge funds have recently added to or reduced their stakes in GL. Global Assets Advisory LLC acquired a new position in shares of Globe Life during the 2nd quarter worth approximately $25,000. AdvisorNet Financial Inc boosted its stake in shares of Globe Life by 60.0% in the second quarter. AdvisorNet Financial Inc now owns 224 shares of the company's stock valued at $28,000 after buying an additional 84 shares during the period. TD Private Client Wealth LLC acquired a new stake in Globe Life during the second quarter worth approximately $39,000. SouthState Corp bought a new position in Globe Life during the 1st quarter worth $43,000. Finally, Ransom Advisory Ltd acquired a new position in Globe Life in the 1st quarter valued at $50,000. 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.

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