AlphaQuest LLC Trims Holdings in Globe Life Inc. $GL

Key Points

• AlphaQuest LLC reduced its stake in Globe Life Inc. by 47.5% in Q1, now holding shares worth approximately $1.15 million.
• Wall Street analysts are optimistic, with multiple firms raising their target prices for Globe Life, now averaging $152.45, and recommending the stock as a "buy" or "moderate buy".
• Company insiders have significantly sold shares recently, including CEO James Matthew Darden and CFO Thomas Peter Kalmbach, with a total of 84,722 shares sold over the last ninety days.

AlphaQuest LLC lessened its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 47.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,759 shares of the company's stock after selling 7,926 shares during the quarter. AlphaQuest LLC's holdings in Globe Life were worth $1,154,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. SouthState Corp bought a new position in Globe Life in the 1st quarter valued at $43,000. Allworth Financial LP grew 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 buying an additional 103 shares in the last quarter. Versant Capital Management Inc grew 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 buying an additional 342 shares in the last quarter. Brooklyn Investment Group grew 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 buying an additional 650 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. grew its position in shares of Globe Life by 25.4% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 774 shares of the company's stock worth $100,000 after buying an additional 157 shares in the last quarter. Institutional investors own 81.61% of the company's stock.

Insiders Place Their Bets

In other news, 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 value of $1,767,250.00. Following the completion of the transaction, the chief executive officer directly owned 32,747 shares in the company, valued at $4,629,770.86. This trade represents a 27.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 30,665 shares of the company's stock, valued at approximately $4,322,845.05. The trade was a 48.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 84,722 shares of company stock valued at $11,733,793. 1.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GL. Wall Street Zen raised Globe Life from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Piper Sandler dropped their price target on Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Cfra Research raised Globe Life to a "moderate buy" rating in a research report on Friday, July 25th. BMO Capital Markets reissued a "market perform" rating and set a $149.00 price target (up previously from $114.00) on shares of Globe Life in a research report on Wednesday, July 30th. Finally, 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 research report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $152.45.

Globe Life Stock Up 0.2%

Globe Life stock traded up $0.33 during midday trading on Tuesday, reaching $139.72. The company's stock had a trading volume of 538,447 shares, compared to its average volume of 694,883. The stock's 50-day simple moving average is $129.59 and its 200-day simple moving average is $125.13. 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 Inc. has a 52-week low of $99.04 and a 52-week high of $144.00. The stock has a market capitalization of $11.32 billion, a P/E ratio of 11.17 and a beta of 0.56.

Globe Life (NYSE:GL - Get Free Report) last released its quarterly 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 return on equity of 21.24% and a net margin of 18.11%.The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same period last year, the business posted $2.97 earnings per share. The firm'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 expect that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Announces Dividend

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