First United Bank & Trust Purchases 1,790 Shares of Globe Life Inc. $GL

Key Points

• First United Bank & Trust increased its stake in Globe Life Inc. by 107.5% during the second quarter, acquiring an additional 1,790 shares to bring its total to 3,455 shares.
• Recent sales of Globe Life shares by executives, including 10,000 shares sold by EVP Michael Clay Majors and 12,500 shares sold by CEO Frank M. Svoboda, indicate a significant decrease in their ownership of the stock.
• Analysts have raised their price targets for Globe Life, with JPMorgan Chase increasing its target from $145.00 to $160.00 while maintaining an "overweight" rating on the stock.

First United Bank & Trust increased its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 107.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,455 shares of the company's stock after purchasing an additional 1,790 shares during the quarter. First United Bank & Trust's holdings in Globe Life were worth $429,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. AdvisorNet Financial Inc increased its position in Globe Life by 60.0% during the 2nd quarter. AdvisorNet Financial Inc now owns 224 shares of the company's stock valued at $28,000 after buying an additional 84 shares in the last quarter. Amalgamated Bank increased its position in Globe Life by 0.5% during the first quarter. Amalgamated Bank now owns 16,348 shares of the company's stock valued at $2,153,000 after acquiring an additional 85 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Globe Life by 0.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 19,776 shares of the company's stock worth $2,605,000 after buying an additional 89 shares during the last quarter. Venturi Wealth Management LLC grew its position in Globe Life by 1.1% during the first quarter. Venturi Wealth Management LLC now owns 8,226 shares of the company's stock valued at $1,084,000 after buying an additional 93 shares during the period. Finally, HighPoint Advisor Group LLC increased its holdings in Globe Life by 4.2% during the first quarter. HighPoint Advisor Group LLC now owns 2,366 shares of the company's stock valued at $293,000 after buying an additional 95 shares during the last quarter. Institutional investors own 81.61% of the company's stock.

Insider Buying and Selling

In related news, EVP Michael Clay Majors sold 10,000 shares of the firm's stock in a transaction dated 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 sale, the executive vice president directly owned 47,066 shares of the company's stock, valued at $6,467,339.06. This trade represents a 17.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frank M. Svoboda sold 12,500 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $141.38, for a total value of $1,767,250.00. Following the completion of the transaction, the chief executive officer directly 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 disclosure for this sale can be found here. Insiders have sold 84,722 shares of company stock worth $11,733,793 over the last ninety days. 1.97% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on GL shares. JPMorgan Chase & Co. upped their price target on Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods lifted 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 increased their price target on shares of Globe Life from $144.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, July 25th. BMO Capital Markets reiterated a "market perform" rating and issued a $149.00 price target (up from $114.00) on shares of Globe Life in a report on Wednesday, July 30th. Finally, Cfra Research upgraded shares of Globe Life to a "moderate buy" rating in a research note on Friday, July 25th. One investment 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 company's stock. According to data from MarketBeat.com, Globe Life has an average rating of "Moderate Buy" and an average price target of $152.45.

Globe Life Trading Down 0.8%

Shares of NYSE:GL opened at $143.41 on Tuesday. Globe Life Inc. has a 52-week low of $100.27 and a 52-week high of $147.83. The business has a 50-day moving average price of $139.64 and a 200-day moving average price of $128.20. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.43. The stock has a market cap of $11.62 billion, a price-to-earnings ratio of 11.46 and a beta of 0.56.

Globe Life (NYSE:GL - Get Free Report) last released 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. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.50 billion. The business's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.97 earnings per share. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. Equities analysts predict that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 3rd will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, October 3rd. Globe Life's payout ratio is 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.

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