EP Wealth Advisors LLC Purchases New Shares in Globe Life Inc. $GL

EP Wealth Advisors LLC acquired a new position in shares of Globe Life Inc. (NYSE:GL - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,055 shares of the company's stock, valued at approximately $271,000.

Other hedge funds have also recently made changes to their positions in the company. SouthState Corp purchased a new position in shares of Globe Life during the 1st quarter worth approximately $43,000. SVB Wealth LLC purchased a new position in shares of Globe Life during the 1st quarter worth approximately $63,000. Allworth Financial LP boosted its position in shares of Globe Life by 22.0% during the 1st quarter. Allworth Financial LP now owns 571 shares of the company's stock worth $71,000 after purchasing an additional 103 shares during the period. Versant Capital Management Inc boosted its position in shares of Globe Life by 140.2% during the 1st quarter. Versant Capital Management Inc now owns 586 shares of the company's stock worth $77,000 after purchasing an additional 342 shares during the period. Finally, Brooklyn Investment Group boosted its position in shares of Globe Life by 792.7% during the 1st quarter. Brooklyn Investment Group now owns 732 shares of the company's stock worth $96,000 after purchasing an additional 650 shares during the period. Hedge funds and other institutional investors own 81.61% of the company's stock.

Globe Life Stock Performance

Globe Life stock traded down $0.24 during midday trading on Friday, hitting $142.25. 400,575 shares of the company's stock were exchanged, compared to its average volume of 440,235. Globe Life Inc. has a 12-month low of $100.27 and a 12-month high of $144.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.06 and a current ratio of 0.06. The stock has a market cap of $11.52 billion, a price-to-earnings ratio of 11.37 and a beta of 0.56. The firm's 50 day simple moving average is $134.42 and its 200 day simple moving average is $126.74.

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

Globe Life Dividend Announcement

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

Analysts Set New Price Targets

GL has been the topic of a number of research reports. Morgan Stanley increased their target price on shares of Globe Life from $166.00 to $171.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Truist Financial initiated coverage on shares of Globe Life in a report on Tuesday, July 15th. They set a "buy" rating and a $150.00 target price on the stock. Wells Fargo & Company increased their target price on shares of Globe Life from $144.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Cfra Research upgraded shares of Globe Life to a "moderate buy" rating in a report on Friday, July 25th. Finally, Wall Street Zen upgraded shares of Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $152.45.

Insider Activity at Globe Life

In other Globe Life news, CFO Thomas Peter Kalmbach sold 28,952 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $140.97, for a total value of $4,081,363.44. Following the sale, the chief financial officer owned 30,665 shares of the company's stock, valued at $4,322,845.05. This represents a 48.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Clay Majors sold 10,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $137.41, for a total transaction of $1,374,100.00. Following the completion of the sale, the executive vice president directly owned 47,066 shares in the company, valued at $6,467,339.06. This trade represents a 17.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,722 shares of company stock worth $11,733,793 in the last ninety days. Corporate insiders own 1.51% of the company's stock.

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.