33,954 Shares in Globe Life Inc. $GL Purchased by Ellsworth Advisors LLC

Key Points

• Ellsworth Advisors LLC acquired 33,954 shares of Globe Life Inc. valued at approximately $4.47 million during the first quarter of the year.
• Analysts have increased their price targets for Globe Life, with ranges now between $150.00 and $155.00, reflecting a consensus rating of "Moderate Buy".
• Insider transactions show significant selling activity, with CFO Thomas Peter Kalmbach selling 28,952 shares and CEO James Matthew Darden selling 33,270 shares in recent trades.

Ellsworth Advisors LLC acquired a new stake in Globe Life Inc. (NYSE:GL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 33,954 shares of the company's stock, valued at approximately $4,472,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. SouthState Corp acquired a new position in Globe Life in the 1st quarter valued at approximately $43,000. Ransom Advisory Ltd acquired a new stake in Globe Life in the first quarter valued at $50,000. SVB Wealth LLC acquired a new stake in Globe Life in the first quarter valued at $63,000. Allworth Financial LP increased its holdings in Globe Life by 22.0% in the first quarter. Allworth Financial LP now owns 571 shares of the company's stock valued at $71,000 after purchasing an additional 103 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of Globe Life by 140.2% in the first quarter. Versant Capital Management Inc now owns 586 shares of the company's stock valued at $77,000 after buying an additional 342 shares during the period. Institutional investors and hedge funds own 81.61% of the company's stock.

Globe Life Stock Down 0.4%

Globe Life stock traded down $0.56 during mid-day trading on Tuesday, reaching $141.88. The stock had a trading volume of 152,379 shares, compared to its average volume of 633,878. The stock's 50-day simple moving average is $134.85 and its 200-day simple moving average is $126.86. Globe Life Inc. has a fifty-two week low of $100.27 and a fifty-two week 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 firm has a market capitalization of $11.49 billion, a PE ratio of 11.33 and a beta of 0.56.

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

Globe Life Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Michael Clay Majors sold 10,000 shares of Globe Life stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $137.41, for a total transaction of $1,374,100.00. Following the transaction, the executive vice president 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of Globe Life stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 30,665 shares in the company, valued at approximately $4,322,845.05. The trade was a 48.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 84,722 shares of company stock worth $11,733,793 over the last 90 days. Company insiders own 1.97% of the company's stock.

Wall Street Analysts Forecast Growth

GL has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods increased their target price on shares of Globe Life from $145.00 to $155.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Morgan Stanley increased their price objective on shares of Globe Life from $166.00 to $171.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. JPMorgan Chase & Co. increased their price target on Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Truist Financial began coverage on Globe Life in a report on Tuesday, July 15th. They set a "buy" rating and a $150.00 price target for the company. Finally, Cfra Research raised Globe Life to a "moderate buy" rating in a research note on Friday, July 25th. One investment 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $152.45.

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.