Globe Life Inc. $GL Shares Acquired by Carmignac Gestion

Key Points

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Carmignac Gestion raised its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 68.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 90,000 shares of the company's stock after purchasing an additional 36,553 shares during the period. Carmignac Gestion owned 0.11% of Globe Life worth $11,855,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Globe Life by 9.3% during the 1st 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 during the 1st quarter valued at about $131,608,000. Ameriprise Financial Inc. boosted its holdings in shares of Globe Life by 58.6% during the 4th 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 last quarter. Northern Trust Corp boosted its holdings in shares of Globe Life by 3.3% during the 4th 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 last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Globe Life by 15,553.5% during the 1st 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 last quarter. Institutional investors own 81.61% of the company's stock.

Insider Activity at Globe Life

In other news, EVP Michael Clay Majors sold 10,000 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 47,066 shares of the company's stock, valued at approximately $6,467,339.06. This trade represents a 17.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Frank M. Svoboda sold 12,500 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer owned 32,747 shares in the company, valued at approximately $4,629,770.86. This represents a 27.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 84,722 shares of company stock valued at $11,733,793. 1.51% of the stock is owned by insiders.

Globe Life Trading Up 1.1%

Globe Life stock traded up $1.5280 during midday trading on Friday, reaching $141.1480. The stock had a trading volume of 491,108 shares, compared to its average volume of 751,352. 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 Inc. has a 52-week low of $99.04 and a 52-week high of $144.00. The firm has a market cap of $11.43 billion, a price-to-earnings ratio of 11.28 and a beta of 0.56. The company has a fifty day moving average of $128.81 and a 200 day moving average of $124.87.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $3.27 earnings per share for the quarter, topping analysts' consensus estimates of $3.25 by $0.02. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates 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 period in the prior year, the company posted $2.97 EPS. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. On average, analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Keefe, Bruyette & Woods increased their price target on shares of Globe Life from $145.00 to $155.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Piper Sandler lowered their price target on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Morgan Stanley increased their price target on shares of Globe Life from $166.00 to $171.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Truist Financial assumed coverage on shares of Globe Life in a report on Tuesday, July 15th. They issued a "buy" rating and a $150.00 price target for the company. Finally, BMO Capital Markets reaffirmed a "market perform" rating and issued a $149.00 price target (up previously from $114.00) on shares of Globe Life in a report on Wednesday, July 30th. 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. According to MarketBeat.com, the company presently has an average 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.