BI Asset Management Fondsmaeglerselskab A S Has $1.78 Million Position in Globe Life Inc. $GL

Key Points

• BI Asset Management Fondsmaeglerselskab A S significantly reduced its stake in Globe Life Inc. by 75.9%, selling 42,742 shares and holding 13,543 shares worth approximately $1.78 million as of its latest SEC filing.
• Insider transactions included CEO James Matthew Darden selling 33,270 shares for over $4.5 million, which resulted in a 40.03% decrease in his ownership of Globe Life stock.
• Globe Life has announced a quarterly dividend of $0.27 per share, with an annualized yield of 0.8% for stockholders of record on October 3rd.

BI Asset Management Fondsmaeglerselskab A S lowered its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 75.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,543 shares of the company's stock after selling 42,742 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Globe Life were worth $1,784,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SouthState Corp bought a new position in Globe Life during the first quarter worth about $43,000. Allworth Financial LP boosted its holdings 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 buying an additional 103 shares during the last quarter. Versant Capital Management Inc boosted its holdings 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 buying an additional 342 shares during the last quarter. Brooklyn Investment Group boosted its holdings 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 buying an additional 650 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. boosted its holdings in Globe Life by 25.4% during the first quarter. Resona Asset Management Co. Ltd. now owns 774 shares of the company's stock worth $100,000 after buying an additional 157 shares during the last quarter. Institutional investors own 81.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GL shares. Keefe, Bruyette & Woods raised their target price on Globe Life from $145.00 to $155.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Wells Fargo & Company raised their price target on Globe Life from $144.00 to $150.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. 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 report on Monday, August 18th. Truist Financial began coverage on Globe Life in a research report on Tuesday, July 15th. They set a "buy" rating and a $150.00 price target on the stock. Finally, BMO Capital Markets reaffirmed a "market perform" rating and set a $149.00 price target (up previously from $114.00) on shares of Globe Life in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $152.45.

Insider Transactions at Globe Life

In other Globe Life news, EVP Michael Clay Majors sold 10,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $137.41, for a total transaction of $1,374,100.00. Following the transaction, the executive vice president owned 47,066 shares of the company's stock, valued at $6,467,339.06. The trade was a 17.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the business's stock in a transaction that occurred 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 $4,322,845.05. This trade represents a 48.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,722 shares of company stock worth $11,733,793 in the last 90 days. 1.97% of the stock is owned by corporate insiders.

Globe Life Stock Down 1.3%

Globe Life stock traded down $1.8090 during midday trading on Monday, reaching $139.4310. The stock had a trading volume of 486,577 shares, compared to its average volume of 653,770. The firm's fifty day simple moving average is $128.81 and its 200-day simple moving average is $124.92. Globe Life Inc. has a 1-year low of $99.04 and a 1-year high of $144.00. The stock has a market capitalization of $11.29 billion, a P/E ratio of 11.15 and a beta of 0.56. 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 announced its earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.25 by $0.02. Globe Life had a return on equity of 21.24% and a net margin of 18.11%.The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the firm earned $2.97 EPS. Globe Life's revenue for the quarter was up 2.9% compared to the same quarter last year. 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 fiscal year.

Globe Life Announces Dividend

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

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.