Globe Life Inc. (NYSE:GL) CFO Thomas Peter Kalmbach Sells 28,952 Shares

Key Points

• CFO Thomas Peter Kalmbach of Globe Life Inc. sold 28,952 shares at an average price of $140.97, totaling over $4 million, marking a 48.56% decrease in his ownership of the company.
• Globe Life reported an EPS of $3.27 for the last quarter, slightly exceeding analysts' expectations, while revenues were up 2.9% year-over-year but below estimates.
• Analysts recently adjusted their price targets for Globe Life, with BMO Capital Markets raising its target to $149.00, indicating a consensus rating of "Moderate Buy" among analysts.

Globe Life Inc. (NYSE:GL - Get Free Report) CFO Thomas Peter Kalmbach sold 28,952 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $140.97, for a total value of $4,081,363.44. Following the completion of the sale, the chief financial officer directly owned 30,665 shares of the company's stock, valued at $4,322,845.05. This trade represents a 48.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Globe Life Stock Down 0.1%

Shares of GL traded down $0.08 during midday trading on Thursday, hitting $140.98. The company had a trading volume of 272,188 shares, compared to its average volume of 654,202. The firm has a market capitalization of $11.64 billion, a P/E ratio of 11.27 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 company's 50-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 released its quarterly earnings results on Wednesday, July 23rd. The company reported $3.27 EPS for the quarter, topping the consensus estimate of $3.25 by $0.02. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.50 billion. Globe Life had a return on equity of 21.55% and a net margin of 18.11%. The firm's revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.97 earnings per share. As a group, sell-side analysts expect that Globe Life Inc. will post 13.87 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. grew its holdings in Globe Life by 4.1% during the first quarter. Principal Financial Group Inc. now owns 101,679 shares of the company's stock worth $13,393,000 after acquiring an additional 3,960 shares during the period. DAVENPORT & Co LLC acquired a new position in Globe Life during the first quarter worth $493,000. Sequoia Financial Advisors LLC boosted its position in Globe Life by 693.4% during the first quarter. Sequoia Financial Advisors LLC now owns 24,184 shares of the company's stock worth $3,185,000 after purchasing an additional 21,136 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Globe Life by 8.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,711 shares of the company's stock worth $1,260,000 after purchasing an additional 723 shares in the last quarter. Finally, Lighthouse Investment Partners LLC boosted its position in Globe Life by 914.9% during the fourth quarter. Lighthouse Investment Partners LLC now owns 128,266 shares of the company's stock worth $14,304,000 after purchasing an additional 115,628 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on GL shares. BMO Capital Markets reissued a "market perform" rating and set a $149.00 price objective (up from $114.00) on shares of Globe Life in a research report on Wednesday. Morgan Stanley raised their price objective on Globe Life from $127.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. Wall Street Zen raised Globe Life from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Keefe, Bruyette & Woods raised their price objective on Globe Life from $145.00 to $155.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, JPMorgan Chase & Co. raised 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. Three research 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's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $149.18.

About Globe Life

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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