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 purchased a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 33,954 shares of the company's stock, valued at approximately $4,472,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Amalgamated Bank grew its holdings in shares of Globe Life by 0.5% in the first quarter. Amalgamated Bank now owns 16,348 shares of the company's stock worth $2,153,000 after purchasing an additional 85 shares during the last quarter. Pinnacle Wealth Planning Services Inc. increased its stake in shares of Globe Life by 4.0% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company's stock worth $256,000 after buying an additional 88 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in shares of Globe Life by 0.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 19,776 shares of the company's stock worth $2,605,000 after buying an additional 89 shares during the period. Venturi Wealth Management LLC increased its stake in shares of Globe Life by 1.1% in the first quarter. Venturi Wealth Management LLC now owns 8,226 shares of the company's stock worth $1,084,000 after buying an additional 93 shares during the period. Finally, HighPoint Advisor Group LLC increased its stake in shares of Globe Life by 4.2% in the first quarter. HighPoint Advisor Group LLC now owns 2,366 shares of the company's stock worth $293,000 after buying an additional 95 shares during the period. 81.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Globe Life

In other news, EVP Michael Clay Majors sold 10,000 shares of the business's stock in a transaction on 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 sale, the executive vice president owned 47,066 shares in the company, valued at approximately $6,467,339.06. The trade was a 17.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 shares were sold at an average price of $135.59, for a total transaction of $4,511,079.30. Following the sale, the chief executive officer owned 49,842 shares in the company, valued at approximately $6,758,076.78. This trade represents a 40.03% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,722 shares of company stock worth $11,733,793. Corporate insiders own 1.51% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GL. Wall Street Zen raised shares of Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $149.00 target price (up from $114.00) on shares of Globe Life in a research note on Wednesday, July 30th. JPMorgan Chase & Co. lifted their target price on shares of Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Morgan Stanley lifted their target price on shares of Globe Life from $166.00 to $171.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Finally, Cfra Research raised shares of Globe Life to a "moderate buy" rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $152.45.

Globe Life Trading Down 0.2%

NYSE:GL traded down $0.24 during trading hours on Friday, hitting $142.25. The company had a trading volume of 400,575 shares, compared to its average volume of 440,235. The company has a market capitalization of $11.52 billion, a PE ratio of 11.37 and a beta of 0.56. The stock has a 50-day moving average price of $134.42 and a 200 day moving average price of $126.74. Globe Life Inc. has a 52 week low of $100.27 and a 52 week high of $144.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.06 and a quick ratio of 0.06.

Globe Life (NYSE:GL - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $3.27 EPS for the quarter, beating analysts' consensus estimates of $3.25 by $0.02. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter in the previous year, the business posted $2.97 EPS. The company's quarterly 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, equities research analysts predict that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Announces Dividend

The firm also recently announced 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 payout ratio is 8.63%.

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.