Jacobs Levy Equity Management Inc. Purchases 271,253 Shares of Globe Life Inc. $GL

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Globe Life Inc. by 35.9%, owning over 1 million shares valued at approximately $135 million by the end of the first quarter.
• Several large investors, including Principal Financial Group Inc. and Sequoia Financial Advisors LLC, have recently adjusted their positions in Globe Life, with institutional investors now holding 81.61% of the company's stock.
• Globe Life announced a quarterly dividend of $0.27 per share, to be paid on October 31st, representing an annualized dividend yield of 0.8%.

Jacobs Levy Equity Management Inc. increased its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 35.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,025,984 shares of the company's stock after buying an additional 271,253 shares during the quarter. Jacobs Levy Equity Management Inc. owned 1.24% of Globe Life worth $135,143,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GL. Amalgamated Bank raised its stake in shares of Globe Life by 0.5% in 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. Pinnacle Wealth Planning Services Inc. raised its position in Globe Life by 4.0% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company's stock worth $256,000 after purchasing an additional 88 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Globe Life by 0.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 19,776 shares of the company's stock worth $2,605,000 after purchasing an additional 89 shares during the last quarter. Venturi Wealth Management LLC raised its position in Globe Life by 1.1% in the 1st quarter. Venturi Wealth Management LLC now owns 8,226 shares of the company's stock worth $1,084,000 after purchasing an additional 93 shares during the last quarter. Finally, HighPoint Advisor Group LLC raised its position in Globe Life by 4.2% in the 1st quarter. HighPoint Advisor Group LLC now owns 2,366 shares of the company's stock worth $293,000 after purchasing an additional 95 shares during the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Globe Life

In related news, CEO James Matthew Darden sold 33,270 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $135.59, for a total value of $4,511,079.30. Following the completion of the transaction, the chief executive officer directly owned 49,842 shares of the company's stock, valued at approximately $6,758,076.78. This represents a 40.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the stock in a transaction dated Tuesday, July 29th. The stock was 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 of the company's stock, valued at approximately $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 valued at $11,733,793 in the last quarter. 1.97% of the stock is currently owned by company insiders.

Globe Life Trading Up 0.0%

Shares of GL stock traded up $0.04 on Tuesday, hitting $140.41. The stock had a trading volume of 368,051 shares, compared to its average volume of 640,423. Globe Life Inc. has a twelve month low of $99.04 and a twelve month high of $144.00. The firm has a market cap of $11.37 billion, a P/E ratio of 11.22 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 company has a fifty day moving average price of $132.89 and a two-hundred day moving average price of $126.25.

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 (EPS) for the quarter, beating the consensus estimate of $3.25 by $0.02. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the business earned $2.97 EPS. The firm's revenue was up 2.9% on a year-over-year basis. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. As a group, analysts forecast 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. 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 is presently 8.63%.

Analyst Ratings Changes

GL has been the subject of several research analyst reports. Wells Fargo & Company boosted their price objective 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 report on Monday, July 28th. Truist Financial began coverage on shares of Globe Life in a report on Tuesday, July 15th. They set a "buy" rating and a $150.00 target price for the company. Cfra Research raised shares of Globe Life to a "moderate buy" rating in a report on Friday, July 25th. Finally, Morgan Stanley lifted their target price on shares of Globe Life from $166.00 to $171.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus 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.