1,790 Shares in Globe Life Inc. $GL Bought by Patton Fund Management Inc.

Key Points

• Patton Fund Management Inc. has acquired a new position in Globe Life Inc., purchasing 1,790 shares valued at approximately $222,000 in the second quarter.
• Several institutional investors have increased their stakes in Globe Life, with 81.61% of the stock currently owned by institutional investors.
• Globe Life recently announced a quarterly dividend of $0.27 per share, payable on October 31st, indicating a 0.8% annual yield.

Patton Fund Management Inc. purchased a new position in Globe Life Inc. (NYSE:GL - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,790 shares of the company's stock, valued at approximately $222,000.

Several other institutional investors and hedge funds have also made changes to their positions in GL. Wealth Enhancement Advisory Services LLC lifted its position in shares of Globe Life by 5.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 20,938 shares of the company's stock worth $2,335,000 after purchasing an additional 1,159 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Globe Life by 140.2% during the first quarter. Versant Capital Management Inc now owns 586 shares of the company's stock worth $77,000 after acquiring an additional 342 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Globe Life by 15,553.5% during the first quarter. GAMMA Investing LLC now owns 781,890 shares of the company's stock worth $102,991,000 after acquiring an additional 776,895 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Globe Life by 7.3% during the first quarter. Parallel Advisors LLC now owns 1,553 shares of the company's stock worth $205,000 after acquiring an additional 106 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Globe Life by 4.3% during the first quarter. Rhumbline Advisers now owns 209,018 shares of the company's stock worth $27,532,000 after acquiring an additional 8,531 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GL shares. BMO Capital Markets reiterated a "market perform" rating and issued a $149.00 target price (up previously from $114.00) on shares of Globe Life in a research report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price target on shares of Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Morgan Stanley increased their price objective on Globe Life from $166.00 to $171.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Cfra Research raised Globe Life to a "moderate buy" rating in a research note on Friday, July 25th. Finally, Truist Financial initiated coverage on Globe Life in a research note on Tuesday, July 15th. They issued a "buy" rating and a $150.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Globe Life currently has a consensus rating of "Moderate Buy" and a consensus target price of $152.45.

Globe Life Trading Down 0.8%

GL opened at $143.41 on Tuesday. The firm has a market cap of $11.62 billion, a price-to-earnings ratio of 11.46 and a beta of 0.56. Globe Life Inc. has a 52 week low of $100.27 and a 52 week high of $147.83. The business's 50 day moving average is $139.64 and its two-hundred day moving average is $128.20. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.43.

Globe Life (NYSE:GL - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share for the quarter, beating the consensus estimate of $3.25 by $0.02. Globe Life had a return on equity of 21.24% and a net margin of 18.11%.The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the business posted $2.97 EPS. The company's revenue was up 2.9% on a year-over-year basis. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. On average, research analysts predict that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, October 3rd. Globe Life's payout ratio is presently 8.63%.

Insider Buying and Selling

In other news, EVP Michael Clay Majors sold 10,000 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $137.41, for a total value of $1,374,100.00. Following the completion of the transaction, the executive vice president directly owned 47,066 shares of the company's stock, valued at $6,467,339.06. The trade was a 17.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO James Matthew Darden sold 33,270 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $135.59, for a total value of $4,511,079.30. Following the completion of the transaction, the chief executive officer directly owned 49,842 shares of the company's stock, valued at approximately $6,758,076.78. This trade represents a 40.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,722 shares of company stock valued at $11,733,793. 1.97% of the stock is owned by insiders.

Globe Life 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.