Financiere des Professionnels Fonds d investissement inc. Acquires New Shares in Globe Life Inc. $GL

Key Points

• Financiere des Professionnels Fonds d'investissement inc. has acquired 5,904 shares of Globe Life Inc., valued at approximately $734,000, according to a recent 13F filing with the SEC.
• Globe Life reported a quarterly earnings per share of $3.27, exceeding analysts' estimates, while revenue for the quarter was $1.48 billion, slightly below expectations.
• The company declared a quarterly dividend of $0.27, set to be paid on October 31st, which represents an annualized yield of 0.8% and a payout ratio of 8.63%.

Financiere des Professionnels Fonds d investissement inc. bought a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,904 shares of the company's stock, valued at approximately $734,000.

A number of other hedge funds have also recently modified their holdings of the business. Nuveen LLC bought a new position in Globe Life in the 1st quarter worth about $131,608,000. GAMMA Investing LLC boosted its stake in Globe Life by 15,553.5% in the 1st quarter. GAMMA Investing LLC now owns 781,890 shares of the company's stock worth $102,991,000 after purchasing an additional 776,895 shares in the last quarter. Swedbank AB boosted its stake in Globe Life by 77.0% in the 1st quarter. Swedbank AB now owns 832,000 shares of the company's stock worth $109,591,000 after purchasing an additional 362,000 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Globe Life by 35.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,025,984 shares of the company's stock worth $135,143,000 after purchasing an additional 271,253 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Globe Life by 1,270.8% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 233,030 shares of the company's stock worth $28,963,000 after purchasing an additional 216,030 shares in the last quarter. Institutional investors own 81.61% of the company's stock.

Insider Activity

In other Globe Life news, EVP Michael Clay Majors sold 10,000 shares of Globe Life 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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of Globe Life stock in a transaction on Tuesday, July 29th. The stock was 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 approximately $4,322,845.05. This trade represents a 48.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 84,722 shares of company stock valued at $11,733,793 over the last ninety days. 1.51% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GL. Keefe, Bruyette & Woods upped their price target on shares of Globe Life from $145.00 to $155.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Cfra Research upgraded shares of Globe Life to a "moderate buy" rating in a research note on Friday, July 25th. Morgan Stanley upped their target price on shares of Globe Life from $166.00 to $171.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. BMO Capital Markets restated a "market perform" rating and set a $149.00 target price (up previously from $114.00) on shares of Globe Life in a research note on Wednesday, July 30th. Finally, Truist Financial started coverage on shares of Globe Life in a research note on Tuesday, July 15th. They set a "buy" rating and a $150.00 target price on the stock. One equities research 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. According to MarketBeat, Globe Life currently has a consensus rating of "Moderate Buy" and a consensus target price of $152.45.

Globe Life Price Performance

Shares of GL stock traded up $1.74 on Friday, reaching $145.37. The company's stock had a trading volume of 1,416,161 shares, compared to its average volume of 437,438. The stock's fifty day simple moving average is $136.78 and its 200-day simple moving average is $127.32. Globe Life Inc. has a 1 year low of $100.27 and a 1 year high of $146.18. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $11.77 billion, a price-to-earnings ratio of 11.62 and a beta of 0.56.

Globe Life (NYSE:GL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share for the quarter, beating analysts' consensus estimates of $3.25 by $0.02. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm posted $2.97 earnings per share. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. Analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, October 3rd. Globe Life's payout ratio is presently 8.63%.

Globe Life Company 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.