Counterpoint Mutual Funds LLC bought a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 3,293 shares of the company's stock, valued at approximately $409,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its position in shares of Globe Life by 4.1% in the first quarter. Principal Financial Group Inc. now owns 101,679 shares of the company's stock valued at $13,393,000 after purchasing an additional 3,960 shares during the last quarter. DAVENPORT & Co LLC acquired a new position in shares of Globe Life during the 1st quarter worth approximately $493,000. Atlas Capital Advisors Inc. purchased a new stake in Globe Life in the 1st quarter valued at approximately $893,000. Sequoia Financial Advisors LLC grew its holdings in Globe Life by 693.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 24,184 shares of the company's stock valued at $3,185,000 after buying an additional 21,136 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Globe Life by 8.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,711 shares of the company's stock worth $1,260,000 after buying an additional 723 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.
Insider Buying and Selling at Globe Life
In related news, CFO Thomas Peter Kalmbach sold 28,952 shares of Globe Life stock in a transaction on 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 transaction, the chief financial officer owned 30,665 shares in the company, valued at approximately $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 can be accessed through this link. Also, EVP Michael Clay Majors sold 10,000 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $137.41, for a total value of $1,374,100.00. Following the transaction, the executive vice president owned 47,066 shares in the company, valued at approximately $6,467,339.06. This represents a 17.52% decrease in their position. 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. 1.97% of the stock is currently owned by corporate insiders.
Globe Life Trading Up 0.8%
Shares of GL opened at $146.42 on Wednesday. Globe Life Inc. has a twelve month low of $100.27 and a twelve month high of $147.83. The firm has a market capitalization of $11.86 billion, a P/E ratio of 11.70 and a beta of 0.56. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.43. The stock's fifty day simple moving average is $137.84 and its 200 day simple moving average is $127.61.
Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $3.27 EPS for the quarter, topping the consensus estimate of $3.25 by $0.02. The company 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%.The firm's revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.97 earnings per share. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. On average, equities research analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current year.
Globe Life Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 yield of 0.7%. Globe Life's dividend payout ratio (DPR) is presently 8.63%.
Wall Street Analyst Weigh In
GL has been the subject of several analyst reports. Morgan Stanley boosted their target price on shares of Globe Life from $166.00 to $171.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Truist Financial initiated coverage on shares of Globe Life in a research report on Tuesday, July 15th. They issued a "buy" rating and a $150.00 price objective for the company. Wells Fargo & Company raised their target price on shares of Globe Life from $144.00 to $150.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods lifted their target price on shares of Globe Life from $145.00 to $155.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Finally, BMO Capital Markets reissued a "market perform" rating and set a $149.00 price target (up previously from $114.00) on shares of Globe Life in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $152.45.
Get Our Latest Analysis on GL
About Globe Life
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding GL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globe Life Inc. (NYSE:GL - Free Report).
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