Aberdeen Group plc Has $918,000 Stock Position in Globe Life Inc. $GL

Key Points

• Aberdeen Group plc has reduced its holdings in Globe Life Inc. by 39.2%, selling 4,511 shares during the first quarter, leaving it with 7,010 shares valued at $918,000.
• CEO Frank M. Svoboda and another executive sold significant portions of their stakes, with Svoboda selling 12,500 shares for approximately $1.77 million, resulting in a 27.63% decrease in ownership.
• Globe Life recently reported earnings of $3.27 per share, surpassing estimates, and declared a quarterly dividend of $0.27 per share with a yield of 0.8%.

Aberdeen Group plc lessened its stake in Globe Life Inc. (NYSE:GL - Free Report) by 39.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,010 shares of the company's stock after selling 4,511 shares during the quarter. Aberdeen Group plc's holdings in Globe Life were worth $918,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in Globe Life by 4.1% in the 1st quarter. Principal Financial Group Inc. now owns 101,679 shares of the company's stock valued at $13,393,000 after buying an additional 3,960 shares during the period. DAVENPORT & Co LLC acquired a new position in shares of Globe Life during the 1st quarter worth $493,000. Atlas Capital Advisors Inc. acquired a new position in shares of Globe Life during the 1st quarter worth $893,000. Sequoia Financial Advisors LLC increased its stake in shares of Globe Life by 693.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 24,184 shares of the company's stock worth $3,185,000 after purchasing an additional 21,136 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Globe Life by 8.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,711 shares of the company's stock worth $1,260,000 after purchasing an additional 723 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. BMO Capital Markets restated a "market perform" rating and set a $149.00 price target (up previously from $114.00) on shares of Globe Life in a research note on Wednesday, July 30th. Wall Street Zen upgraded shares of Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Morgan Stanley increased their price target 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. Keefe, Bruyette & Woods upped their price objective on shares of Globe Life from $145.00 to $155.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Finally, Piper Sandler decreased their price objective on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $152.45.

Insider Buying and Selling at Globe Life

In other news, CEO James Matthew Darden sold 33,270 shares of the firm's stock in a transaction dated 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frank M. Svoboda sold 12,500 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $141.38, for a total transaction of $1,767,250.00. Following the transaction, the chief executive officer directly owned 32,747 shares of the company's stock, valued at $4,629,770.86. The trade was a 27.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 84,722 shares of company stock valued at $11,733,793 over the last quarter. 1.97% of the stock is currently owned by insiders.

Globe Life Stock Performance

Globe Life stock traded up $0.68 during mid-day trading on Wednesday, reaching $140.37. The company had a trading volume of 39,965 shares, compared to its average volume of 649,243. 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 Inc. has a 52 week low of $99.04 and a 52 week high of $144.00. The company has a 50 day moving average of $129.59 and a 200-day moving average of $125.13. The firm has a market cap of $11.37 billion, a price-to-earnings ratio of 11.22 and a beta of 0.56.

Globe Life (NYSE:GL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $3.27 EPS for the quarter, topping analysts' consensus estimates of $3.25 by $0.02. The company had revenue of $1.48 billion during 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%. The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the firm earned $2.97 EPS. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. On average, sell-side analysts expect that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Announces Dividend

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 of this dividend is Friday, October 3rd. Globe Life's dividend payout ratio (DPR) is presently 8.63%.

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.