APG Asset Management N.V. Sells 41,813 Shares of Globe Life Inc. $GL

Key Points

• APG Asset Management N.V. reduced its stake in Globe Life Inc. by 31.4%, selling 41,813 shares, and now owns approximately 0.11% of the company, valued at $11.14 million.
• Institutional investors hold 81.61% of Globe Life's stock, with several firms increasing their positions, including Brooklyn Investment Group, which raised its stake by 792.7%.
• Globe Life announced a quarterly dividend of $0.27 per share, representing an annualized yield of 0.8%, with a payout ratio of 8.63%.

APG Asset Management N.V. trimmed its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 31.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 91,350 shares of the company's stock after selling 41,813 shares during the quarter. APG Asset Management N.V. owned approximately 0.11% of Globe Life worth $11,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in GL. Dimensional Fund Advisors LP grew its holdings in Globe Life by 9.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,741,131 shares of the company's stock valued at $229,323,000 after purchasing an additional 148,397 shares during the last quarter. Nuveen LLC bought a new position in shares of Globe Life in the first quarter valued at approximately $131,608,000. Ameriprise Financial Inc. raised its position in shares of Globe Life by 58.6% in the fourth quarter. Ameriprise Financial Inc. now owns 917,994 shares of the company's stock valued at $102,376,000 after purchasing an additional 339,162 shares during the period. Northern Trust Corp raised its position in shares of Globe Life by 3.3% in the fourth 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 period. Finally, GAMMA Investing LLC raised its position in shares of Globe Life by 15,553.5% in the first quarter. GAMMA Investing LLC now owns 781,890 shares of the company's stock valued at $102,991,000 after purchasing an additional 776,895 shares during the period. Institutional investors own 81.61% of the company's stock.

Globe Life Price Performance

Shares of NYSE:GL traded down $0.54 during midday trading on Friday, reaching $139.93. 448,689 shares of the company's stock were exchanged, compared to its average volume of 648,993. The company's 50 day simple moving average is $130.43 and its two-hundred day simple moving average is $125.36. The firm has a market capitalization of $11.33 billion, a PE 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. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.06 and a current ratio of 0.06.

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. Equities research analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

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

Insider Activity

In other news, CEO James Matthew Darden sold 33,270 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $135.59, for a total value of $4,511,079.30. Following the sale, the chief executive officer owned 49,842 shares in the company, valued at approximately $6,758,076.78. The trade was a 40.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Clay Majors sold 10,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $137.41, for a total transaction of $1,374,100.00. Following the completion of the sale, the executive vice president owned 47,066 shares in the company, valued at $6,467,339.06. This represents a 17.52% decrease in their position. 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.

Analysts Set New Price Targets

A number of equities analysts have recently commented 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. Piper Sandler dropped their price target on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Keefe, Bruyette & Woods raised their price objective on shares of Globe Life from $145.00 to $155.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Morgan Stanley raised their price objective 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. Finally, JPMorgan Chase & Co. raised their price objective on shares of Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued 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 price target of $152.45.

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.