Amundi Reduces Stock Position in Globe Life Inc. $GL

Key Points

• Amundi reduced its stake in Globe Life Inc. by 4.0%, selling 7,355 shares, which left it holding approximately 178,757 shares valued at nearly $22.8 million.
• Research analysts have largely upgraded their ratings on Globe Life, with a current average rating of "Moderate Buy" and an average target price of $152.45.
• Globe Life recently announced a quarterly dividend of $0.27 per share, representing an annualized yield of 0.8%, with an ex-dividend date set for October 3rd.

Amundi decreased its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 4.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 178,757 shares of the company's stock after selling 7,355 shares during the quarter. Amundi owned about 0.22% of Globe Life worth $22,793,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GL. SouthState Corp purchased a new stake in Globe Life in the first quarter worth $43,000. SVB Wealth LLC purchased a new stake in Globe Life in the first quarter worth $63,000. Allworth Financial LP lifted its stake in Globe Life by 22.0% in the first quarter. Allworth Financial LP now owns 571 shares of the company's stock worth $71,000 after acquiring an additional 103 shares during the period. Versant Capital Management Inc lifted its stake in Globe Life by 140.2% in the first quarter. Versant Capital Management Inc now owns 586 shares of the company's stock worth $77,000 after acquiring an additional 342 shares during the period. Finally, Brooklyn Investment Group lifted its stake in Globe Life by 792.7% in the first quarter. Brooklyn Investment Group now owns 732 shares of the company's stock worth $96,000 after acquiring an additional 650 shares during the period. Hedge funds and other institutional investors own 81.61% of the company's stock.

Globe Life Stock Down 0.2%

Shares of GL traded down $0.24 during trading hours on Friday, hitting $142.25. The company had a trading volume of 400,575 shares, compared to its average volume of 440,235. The firm has a fifty day moving average price of $134.42 and a 200-day moving average price of $126.74. 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 stock has a market capitalization of $11.52 billion, a price-to-earnings ratio of 11.37 and a beta of 0.56. Globe Life Inc. has a 52-week low of $100.27 and a 52-week high of $144.00.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings results 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 firm 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 quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.97 EPS. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. On average, equities research analysts forecast that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 3rd will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, October 3rd. Globe Life's payout ratio is currently 8.63%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GL shares. Truist Financial started coverage on shares of Globe Life in a report on Tuesday, July 15th. They set a "buy" rating and a $150.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of Globe Life from $144.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Cfra Research upgraded shares of Globe Life to a "moderate buy" rating in a report on Friday, July 25th. Keefe, Bruyette & Woods boosted their target price on shares of Globe Life from $145.00 to $155.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Finally, Wall Street Zen upgraded shares of Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $152.45.

Insider Buying and Selling

In other news, CEO Frank M. Svoboda sold 12,500 shares of Globe Life 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of Globe Life 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 directly owned 30,665 shares of the company's stock, valued at approximately $4,322,845.05. This represents a 48.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 84,722 shares of company stock worth $11,733,793 in the last 90 days. 1.51% of the stock is owned by company insiders.

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.