Globe Life Inc. $GL Shares Acquired by Citigroup Inc.

Key Points

• Citigroup Inc. increased its stake in Globe Life Inc. by 54.7%, now owning 76,389 shares worth approximately $10.06 million.
• Globe Life announced a quarterly dividend of $0.27 per share, representing an annualized dividend of $1.08 and a yield of 0.8%.
• Analysts generally view Globe Life positively, with an average rating of "Moderate Buy" and a price target of $152.00 among various upgrades and changes from different investment firms.

Citigroup Inc. lifted its stake in Globe Life Inc. (NYSE:GL - Free Report) by 54.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 76,389 shares of the company's stock after purchasing an additional 27,021 shares during the quarter. Citigroup Inc. owned about 0.09% of Globe Life worth $10,062,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Globe Life by 20.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 86,309 shares of the company's stock worth $11,369,000 after purchasing an additional 14,546 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Globe Life by 0.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 781,409 shares of the company's stock worth $102,927,000 after purchasing an additional 3,312 shares during the period. Citizens Financial Group Inc. RI acquired a new stake in Globe Life in the 1st quarter valued at $890,000. Vestcor Inc grew its stake in Globe Life by 9.0% in the 1st quarter. Vestcor Inc now owns 4,760 shares of the company's stock valued at $627,000 after acquiring an additional 392 shares during the period. Finally, XTX Topco Ltd grew its stake in Globe Life by 270.4% in the 1st quarter. XTX Topco Ltd now owns 15,344 shares of the company's stock valued at $2,021,000 after acquiring an additional 11,202 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on GL. Wells Fargo & Company lifted their price target on shares of Globe Life from $144.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Cfra Research raised shares of Globe Life to a "moderate buy" rating in a research note on Friday, July 25th. Morgan Stanley lifted their price target on shares of Globe Life from $166.00 to $171.00 and gave the company an "overweight" rating in a research note on Monday. JPMorgan Chase & Co. lifted their price target 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. Finally, Keefe, Bruyette & Woods raised their price objective on Globe Life from $145.00 to $155.00 and gave the company an "outperform" rating in a report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $152.45.

Globe Life Trading Up 0.6%

Shares of NYSE GL traded up $0.8040 during trading on Tuesday, hitting $136.7940. 485,632 shares of the company were exchanged, compared to its average volume of 658,075. Globe Life Inc. has a 12-month low of $97.13 and a 12-month high of $144.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.06 and a current ratio of 0.06. The company has a fifty day moving average price of $127.28 and a 200-day moving average price of $124.44. The firm has a market capitalization of $11.08 billion, a PE ratio of 10.93 and a beta of 0.56.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $3.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.25 by $0.02. The firm 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%. Globe Life's revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.97 EPS. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. As a group, equities research 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. Shareholders of record on Friday, October 3rd will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, October 3rd. Globe Life's payout ratio is currently 8.63%.

Insider Transactions at Globe Life

In other Globe Life news, CFO Thomas Peter Kalmbach sold 28,952 shares of Globe Life stock in a transaction dated 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 completion of the transaction, the chief financial officer directly owned 30,665 shares of the company's stock, valued at $4,322,845.05. The trade was a 48.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael Clay Majors sold 10,000 shares of Globe Life stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $137.41, for a total value of $1,374,100.00. Following the completion of the transaction, the executive vice president directly owned 47,066 shares of the company's stock, valued at approximately $6,467,339.06. This represents a 17.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 84,722 shares of company stock valued at $11,733,793. 1.97% of the stock is owned by insiders.

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.