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Michael Shane Henrie, Senior Vice President and Chief Accounting Officer at Globe Life Inc. (NYSE:GL), recently executed a series of stock transactions involving the company’s common stock. On March 19, Henrie exercised options to acquire 2,750 shares at a price of $103.23 per share, amounting to a total of $283,882. Subsequently, he sold the same number of shares at prices ranging from $126.27 to $126.74 per share, resulting in a total sale value of $347,640. The transaction comes as Globe Life, currently valued at $10.77 billion, trades near its 52-week high with a P/E ratio of 10.66. According to InvestingPro analysis, the stock shows signs of being undervalued based on its Fair Value metrics.
Following these transactions, Henrie holds 3,040 shares directly. Additionally, he maintains an indirect ownership of 149.210 shares through a 401(k) plan. Globe Life maintains a "GREAT" financial health score of 3.13 on InvestingPro, which offers comprehensive analysis through its Pro Research Report, available for over 1,400 US stocks including GL.
In other recent news, Globe Life Inc. has reported its fourth-quarter 2024 earnings, revealing an earnings per share (EPS) of $3.14, surpassing analysts’ expectations of $3.12. However, the company reported a slight revenue shortfall, with $1.47 billion compared to the anticipated $1.48 billion. Despite this, Globe Life’s overall financial performance was strong, with a 12% year-over-year increase in net operating income to $266 million. In another development, CFRA analyst Catherine Seifert raised the price target for Globe Life to $130, maintaining a Hold rating, following the company’s robust fourth-quarter earnings performance. The company also announced the expansion of its board of directors, appointing two new independent directors, Matthew J. Adams and Philip M. Jacobs, to enhance its governance structure. Meanwhile, TD Cowen analysts reiterated their Buy rating for Globe Life with a price target of $168, expressing confidence in the company’s business momentum and growth prospects. Globe Life’s management has shown optimism, citing an increase in agent counts and positive sales trends as key growth indicators.
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