Voya Investment Management LLC Purchases 35,014 Shares of Globe Life Inc. $GL

Key Points

• Voya Investment Management LLC increased its stake in Globe Life Inc. by 105.2% to a total of 68,291 shares worth approximately $8.99 million as of the last SEC filing.
• Globe Life reported an EPS of $3.27 for the latest quarter, exceeding analysts' expectations of $3.25, but fell short of revenue estimates with $1.48 billion compared to the expected $1.50 billion.
• The company announced a quarterly dividend of $0.27, translating to an annualized yield of 0.8%, with the ex-dividend date set for October 3rd.

Voya Investment Management LLC lifted its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 105.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,291 shares of the company's stock after acquiring an additional 35,014 shares during the period. Voya Investment Management LLC owned approximately 0.08% of Globe Life worth $8,995,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. SouthState Corp acquired a new stake in shares of Globe Life in the 1st quarter valued at about $43,000. Ransom Advisory Ltd bought a new position in shares of Globe Life during the 1st quarter worth approximately $50,000. SVB Wealth LLC bought a new stake in shares of Globe Life in the 1st quarter worth approximately $63,000. Allworth Financial LP raised its holdings in shares of Globe Life by 22.0% in the 1st quarter. Allworth Financial LP now owns 571 shares of the company's stock worth $71,000 after purchasing an additional 103 shares during the period. Finally, Versant Capital Management Inc raised its holdings in shares of Globe Life by 140.2% in the 1st quarter. Versant Capital Management Inc now owns 586 shares of the company's stock worth $77,000 after purchasing an additional 342 shares during the period. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Thomas Peter Kalmbach sold 28,952 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $140.97, for a total value of $4,081,363.44. Following the sale, the chief financial officer owned 30,665 shares in the company, valued at approximately $4,322,845.05. This trade represents a 48.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael Clay Majors sold 10,000 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 47,066 shares in the company, valued at $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 ninety days, insiders have sold 84,722 shares of company stock worth $11,733,793. Corporate insiders own 1.51% of the company's stock.

Globe Life Stock Up 1.2%

Shares of NYSE GL traded up $1.74 on Friday, reaching $145.37. 1,416,161 shares of the company's stock traded hands, compared to its average volume of 437,438. Globe Life Inc. has a 12 month low of $100.27 and a 12 month high of $146.18. The business's 50 day simple moving average is $136.78 and its two-hundred day simple moving average is $127.32. The company has a market cap of $11.77 billion, a price-to-earnings ratio of 11.62 and a beta of 0.56. 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 (NYSE:GL - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share for the quarter, beating 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 business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the firm earned $2.97 earnings per share. The business's revenue for the quarter 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, equities research analysts forecast that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, October 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.7%. Globe Life's dividend payout ratio is presently 8.63%.

Analyst Ratings Changes

A number of brokerages have issued reports on GL. 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 on the stock. Keefe, Bruyette & Woods upped their target price on shares of Globe Life from $145.00 to $155.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Cfra Research upgraded shares of Globe Life to a "moderate buy" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. upped their price target on shares of Globe Life from $145.00 to $160.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company increased their target price on shares of Globe Life from $144.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Globe Life currently has an average rating of "Moderate Buy" and an average target price of $152.45.

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.