AlphaQuest LLC Sells 7,926 Shares of 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 reduced its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 47.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 SEC.

Several other institutional investors have also made changes to their positions in the stock. Principal Financial Group Inc. raised its position in Globe Life by 4.1% during the first quarter. Principal Financial Group Inc. now owns 101,679 shares of the company's stock valued at $13,393,000 after acquiring an additional 3,960 shares in the last quarter. DAVENPORT & Co LLC bought a new position in Globe Life during the first quarter valued at approximately $493,000. Atlas Capital Advisors Inc. bought a new position in Globe Life during the first quarter valued at approximately $893,000. Sequoia Financial Advisors LLC raised its position in Globe Life by 693.4% during the first quarter. Sequoia Financial Advisors LLC now owns 24,184 shares of the company's stock valued at $3,185,000 after acquiring an additional 21,136 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Globe Life by 8.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,711 shares of the company's stock valued at $1,260,000 after acquiring an additional 723 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Truist Financial assumed coverage on shares of Globe Life in a research report on Tuesday, July 15th. They issued a "buy" rating and a $150.00 price target on the stock. BMO Capital Markets reissued a "market perform" rating and issued a $149.00 price target (up previously from $114.00) on shares of Globe Life in a research report on Wednesday, July 30th. Morgan Stanley lifted their price target on shares of Globe Life from $166.00 to $171.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Keefe, Bruyette & Woods lifted their price target 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. Finally, Wall Street Zen raised shares of Globe Life from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $152.45.

Insider Activity

In related news, CEO James Matthew Darden sold 33,270 shares of Globe Life stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $135.59, for a total value 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 $6,758,076.78. The trade was a 40.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Clay Majors sold 10,000 shares of Globe Life stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $137.41, for a total value 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. This represents a 17.52% decrease in their ownership of the stock. 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. 1.51% of the stock is currently owned by company insiders.

Globe Life Stock Performance

Shares of Globe Life stock traded up $0.09 during midday trading on Friday, hitting $140.55. The company had a trading volume of 92,123 shares, compared to its average volume of 646,796. The business's 50 day simple moving average is $130.43 and its two-hundred day simple moving average is $125.36. The stock has a market cap of $11.39 billion, a PE ratio of 11.23 and a beta of 0.56. 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 1-year low of $99.04 and a 1-year high of $144.00.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $3.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.25 by $0.02. The business had revenue of $1.48 billion for 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%. Globe Life's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company posted $2.97 earnings per share. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. As a group, equities analysts predict that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Dividend Announcement

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 dividend of $0.27 per share. 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 payout ratio is currently 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.