Ameriprise Financial Inc. Sells 184,654 Shares of Globe Life Inc. $GL

Key Points

• Ameriprise Financial Inc. has reduced its stake in Globe Life Inc. by 20.1%, owning 733,340 shares valued at approximately $96.6 million after selling 184,654 shares in the first quarter.
• Globe Life's recent earnings report showed an EPS of $3.27, exceeding analysts' estimates, with a revenue of $1.48 billion, which was slightly below expectations.
• The company has announced a quarterly dividend of $0.27 per share, set to be paid on October 31, with an annualized yield of 0.8%.

Ameriprise Financial Inc. lessened its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 20.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 733,340 shares of the company's stock after selling 184,654 shares during the quarter. Ameriprise Financial Inc. owned about 0.88% of Globe Life worth $96,596,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GL. Tower Research Capital LLC TRC grew its holdings in Globe Life by 8.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,925 shares of the company's stock valued at $661,000 after buying an additional 480 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of Globe Life in the 4th quarter valued at approximately $391,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Globe Life in the 4th quarter valued at approximately $1,194,000. The Manufacturers Life Insurance Company lifted its stake in shares of Globe Life by 1.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 70,666 shares of the company's stock valued at $7,881,000 after purchasing an additional 1,019 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Globe Life by 3.3% in the 4th quarter. Northern Trust Corp now owns 817,489 shares of the company's stock valued at $91,166,000 after purchasing an additional 26,398 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Cfra Research raised Globe Life to a "moderate buy" rating in a research note on Friday, July 25th. Keefe, Bruyette & Woods raised their price objective on Globe Life from $145.00 to $155.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Truist Financial assumed coverage on Globe Life in a research note on Tuesday, July 15th. They issued a "buy" rating and a $150.00 price objective for the company. Wall Street Zen raised Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, Morgan Stanley raised their price target on Globe Life from $166.00 to $171.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Globe Life presently has a consensus rating of "Moderate Buy" and an average target price of $152.45.

Globe Life Stock Down 0.4%

NYSE GL traded down $0.54 on Friday, reaching $139.93. 448,689 shares of the stock traded hands, compared to its average volume of 588,184. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.06 and a current ratio of 0.06. The company has a fifty day moving average price of $130.82 and a 200-day moving average price of $125.53. The company has a market cap of $11.33 billion, a price-to-earnings ratio of 11.19 and a beta of 0.56. Globe Life Inc. has a 12 month low of $99.04 and a 12 month high of $144.00.

Globe Life (NYSE:GL - Get Free Report) last issued 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 business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.50 billion. Globe Life had a return on equity of 21.24% and a net margin of 18.11%.Globe Life's revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.97 EPS. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. As a group, research analysts forecast that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be given a dividend of $0.27 per share. The ex-dividend date of this dividend 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 8.63%.

Insider Transactions at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 12,500 shares of Globe Life stock in a transaction on 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 completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of Globe Life stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $140.97, for a total value of $4,081,363.44. Following the sale, the chief financial officer directly 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. In the last quarter, insiders sold 84,722 shares of company stock valued at $11,733,793. Company insiders own 1.97% of the company's stock.

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.