Globe Life Inc. $GL Position Lowered by APG Asset Management N.V.

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. cut its stake in Globe Life Inc. (NYSE:GL - Free Report) by 31.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 91,350 shares of the company's stock after selling 41,813 shares during the period. APG Asset Management N.V. owned about 0.11% of Globe Life worth $11,139,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SouthState Corp acquired a new stake in Globe Life in the first quarter valued at $43,000. Allworth Financial LP raised its stake in Globe Life by 22.0% in the first quarter. Allworth Financial LP now owns 571 shares of the company's stock valued at $71,000 after buying an additional 103 shares in the last quarter. Versant Capital Management Inc raised 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 valued at $77,000 after buying an additional 342 shares in the last quarter. Brooklyn Investment Group increased its position in shares of Globe Life by 792.7% during the first quarter. Brooklyn Investment Group now owns 732 shares of the company's stock worth $96,000 after purchasing an additional 650 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of Globe Life by 42.4% during the first quarter. Blue Trust Inc. now owns 772 shares of the company's stock worth $102,000 after purchasing an additional 230 shares in the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. BMO Capital Markets reiterated a "market perform" rating and set a $149.00 target price (up previously from $114.00) on shares of Globe Life in a research report on Wednesday, July 30th. JPMorgan Chase & Co. lifted their target price on Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Cfra Research upgraded Globe Life to a "moderate buy" rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods lifted their target price on Globe Life from $145.00 to $155.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Finally, Wall Street Zen upgraded shares of Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $152.45.

Globe Life Stock Performance

GL stock traded down $0.54 during trading on Friday, hitting $139.93. The company had a trading volume of 448,689 shares, compared to its average volume of 588,184. The firm has a market cap of $11.33 billion, a PE ratio of 11.19 and a beta of 0.56. Globe Life Inc. has a 1-year low of $99.04 and a 1-year high of $144.00. The firm has a 50-day moving average price of $130.82 and a 200-day moving average price of $125.53. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.43.

Globe Life (NYSE:GL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.25 by $0.02. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. Globe Life had a return on equity of 21.24% and a net margin of 18.11%.The company's revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.97 EPS. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. On average, analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Announces Dividend

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

Insider Transactions at Globe Life

In related news, CEO Frank M. Svoboda sold 12,500 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer owned 32,747 shares of the company's stock, valued at approximately $4,629,770.86. This represents a 27.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the stock in a transaction on 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 transaction, the chief financial officer directly owned 30,665 shares in the company, 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 over the last quarter. Insiders own 1.97% of the company's stock.

Globe Life Company 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.