Bayview Asset Management LLC Decreases Holdings in Globe Life Inc. $GL

Key Points

• Bayview Asset Management LLC reduced its holdings in Globe Life Inc. by 48.5%, now owning only 5,000 shares, which account for 0.3% of its portfolio.
• Globe Life recently announced a quarterly dividend of $0.27 per share, with an annualized yield of 0.8% and a payout ratio of 8.63%.
• The company reported $3.27 earnings per share for the last quarter, slightly surpassing analysts' estimates of $3.25.

Bayview Asset Management LLC cut its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 48.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,000 shares of the company's stock after selling 4,700 shares during the quarter. Globe Life makes up about 0.3% of Bayview Asset Management LLC's portfolio, making the stock its 15th largest position. Bayview Asset Management LLC's holdings in Globe Life were worth $659,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. SouthState Corp bought a new position in Globe Life during the first quarter worth $43,000. SVB Wealth LLC bought a new position in Globe Life during the first quarter worth $63,000. Allworth Financial LP boosted its stake in Globe Life by 22.0% during the first quarter. Allworth Financial LP now owns 571 shares of the company's stock worth $71,000 after acquiring an additional 103 shares in the last quarter. Versant Capital Management Inc boosted its stake in Globe Life by 140.2% during 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 in the last quarter. Finally, Brooklyn Investment Group boosted its stake in 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 acquiring an additional 650 shares in the last quarter. 81.61% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Thomas Peter Kalmbach sold 28,952 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer owned 30,665 shares in the company, valued at $4,322,845.05. This represents a 48.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Frank M. Svoboda sold 12,500 shares of the stock in a transaction dated Thursday, July 31st. The shares were 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 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 disclosure for this sale can be found here. In the last three months, insiders have sold 84,722 shares of company stock worth $11,733,793. Company insiders own 1.51% of the company's stock.

Globe Life Stock Down 0.4%

Shares of GL stock traded down $0.54 on Friday, hitting $139.93. The stock had a trading volume of 448,689 shares, compared to its average volume of 603,582. The business has a 50 day moving average of $130.82 and a 200 day moving average of $125.52. The stock has a market cap of $11.33 billion, a price-to-earnings ratio of 11.19 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 12-month low of $99.04 and a 12-month high of $144.00.

Globe Life (NYSE:GL - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $3.27 EPS for the quarter, beating the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior 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, analysts expect that Globe Life Inc. will post 13.87 EPS for the current 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 issued a $0.27 dividend. The ex-dividend date is Friday, October 3rd. This represents a $1.08 annualized dividend and a dividend yield of 0.8%. Globe Life's dividend payout ratio is currently 8.63%.

Wall Street Analyst Weigh In

GL has been the topic of several research analyst reports. Wells Fargo & Company increased their target price on shares of Globe Life from $144.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. BMO Capital Markets reissued a "market perform" rating and set a $149.00 target price (up from $114.00) on shares of Globe Life in a research note on Wednesday, July 30th. Truist Financial started coverage on shares of Globe Life in a research note on Tuesday, July 15th. They set a "buy" rating and a $150.00 target price on the stock. Cfra Research upgraded shares of Globe Life to a "moderate buy" rating in a report on Friday, July 25th. Finally, Morgan Stanley upped their price objective on shares of Globe Life from $166.00 to $171.00 and gave the stock an "overweight" rating in a report 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 given a Hold rating to the company's stock. Based on data from MarketBeat, Globe Life presently has a consensus rating of "Moderate Buy" and an average price target of $152.45.

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.