Brandywine Global Investment Management LLC Makes New $4.95 Million Investment in Globe Life Inc. $GL

Key Points

• Brandywine Global Investment Management LLC made a new investment of approximately $4.95 million in Globe Life Inc., acquiring 37,569 shares during the first quarter of 2023.
• Despite a 2.2% drop in stock price recently, Globe Life has received favorable upgrades from analysts, with a consensus rating of "Moderate Buy" and a target price of $152.00.
• Company insiders have sold significant shares recently, including the CEO and EVP, indicating potential shifts in shareholder confidence, as combined sales totaled over $12 million.

Brandywine Global Investment Management LLC purchased a new stake in Globe Life Inc. (NYSE:GL - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 37,569 shares of the company's stock, valued at approximately $4,949,000.

A number of other institutional investors also recently bought and sold shares of GL. SouthState Corp purchased a new position in shares of Globe Life in the first quarter worth $43,000. Allworth Financial LP increased its position in shares of Globe Life by 22.0% in the 1st quarter. Allworth Financial LP now owns 571 shares of the company's stock valued at $71,000 after acquiring an additional 103 shares during the period. Versant Capital Management Inc increased its position in shares of Globe Life by 140.2% in the 1st quarter. Versant Capital Management Inc now owns 586 shares of the company's stock valued at $77,000 after acquiring an additional 342 shares during the period. Resona Asset Management Co. Ltd. lifted its position in Globe Life by 25.4% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 774 shares of the company's stock worth $100,000 after acquiring an additional 157 shares during the period. Finally, Blue Trust Inc. lifted its position in Globe Life by 42.4% during the 1st quarter. Blue Trust Inc. now owns 772 shares of the company's stock worth $102,000 after acquiring an additional 230 shares during the period. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GL has been the topic of a number of research reports. Truist Financial assumed coverage on Globe Life in a report on Tuesday, July 15th. They issued a "buy" rating and a $150.00 price objective on the stock. Piper Sandler reduced their price target on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Globe Life from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. BMO Capital Markets reiterated a "market perform" rating and issued a $149.00 price objective (up previously from $114.00) on shares of Globe Life in a research note on Wednesday, July 30th. Finally, 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 research report on Monday, July 28th. One investment 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. Based on data from MarketBeat, Globe Life presently has an average rating of "Moderate Buy" and a consensus target price of $152.45.

Insider Activity at Globe Life

In other news, CEO Frank M. Svoboda sold 12,500 shares of the business's 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 $4,629,770.86. The trade was a 27.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $140.97, for a total transaction of $4,081,363.44. Following the completion of the transaction, the chief financial officer directly 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 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 quarter. 1.51% of the stock is owned by insiders.

Globe Life Price Performance

Shares of Globe Life stock traded up $1.1950 during trading hours on Friday, reaching $140.8150. The stock had a trading volume of 269,391 shares, compared to its average volume of 653,334. The stock's 50 day moving average is $128.38 and its 200 day moving average is $124.74. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.43. Globe Life Inc. has a twelve month low of $99.04 and a twelve month high of $144.00. The firm has a market capitalization of $11.41 billion, a PE ratio of 11.26 and a beta of 0.56.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share for the quarter, beating 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 revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.97 EPS. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. Equities analysts expect that Globe Life Inc. will post 13.87 earnings per share 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. Investors of record on Friday, October 3rd will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 0.8%. Globe Life's dividend payout ratio (DPR) is currently 8.63%.

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.