American Century Companies Inc. Acquires 60,606 Shares of Globe Life Inc. $GL

Key Points

• American Century Companies Inc. increased its stake in Globe Life Inc. by 41.9%, owning 205,421 shares valued at $27.06 million after acquiring an additional 60,606 shares in the first quarter.
• Insider selling was significant, with CFO Thomas Peter Kalmbach and CEO Frank M. Svoboda reducing their holdings by 48.56% and 27.63%, respectively, in late July.
• Globe Life recently announced a quarterly dividend of $0.27 per share, translating to an annualized yield of 0.8%, with a low dividend payout ratio of 8.63%.

American Century Companies Inc. boosted its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 41.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 205,421 shares of the company's stock after purchasing an additional 60,606 shares during the period. American Century Companies Inc. owned about 0.25% of Globe Life worth $27,058,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in Globe Life by 4.1% during the 1st 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 stake in Globe Life in the 1st quarter valued at about $493,000. Atlas Capital Advisors Inc. acquired a new stake in Globe Life in the 1st quarter valued at about $893,000. Sequoia Financial Advisors LLC increased its position in Globe Life by 693.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 24,184 shares of the company's stock valued at $3,185,000 after acquiring an additional 21,136 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Globe Life by 8.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,711 shares of the company's stock valued at $1,260,000 after acquiring an additional 723 shares in the last quarter. 81.61% of the stock is owned by institutional investors.

Globe Life Trading Up 1.4%

NYSE GL traded up $1.93 during trading on Wednesday, reaching $141.62. 196,722 shares of the stock traded hands, compared to its average volume of 650,208. The firm has a market cap of $11.47 billion, a price-to-earnings ratio of 11.32 and a beta of 0.56. The stock's 50-day moving average price is $129.59 and its 200 day moving average price is $125.13. 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 Inc. has a fifty-two week low of $99.04 and a fifty-two week high of $144.00.

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 analysts' consensus estimates of $3.25 by $0.02. The firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.50 billion. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. The business's revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.97 earnings per share. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. Analysts predict that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 yield of 0.8%. Globe Life's payout ratio is currently 8.63%.

Insider Activity

In other Globe Life news, CFO Thomas Peter Kalmbach sold 28,952 shares of Globe Life 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 transaction, the chief financial officer owned 30,665 shares of the company's stock, valued at approximately $4,322,845.05. The trade was a 48.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Frank M. Svoboda sold 12,500 shares of Globe Life stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $141.38, for a total transaction of $1,767,250.00. Following the completion of the transaction, the chief executive officer directly owned 32,747 shares in the company, valued at approximately $4,629,770.86. The trade was a 27.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 84,722 shares of company stock worth $11,733,793 in the last ninety days. Company insiders own 1.97% of the company's stock.

Wall Street Analysts Forecast Growth

GL has been the subject of several research reports. Cfra Research upgraded shares of Globe Life to a "moderate buy" rating in a research report on Friday, July 25th. Piper Sandler lowered their price objective on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. JPMorgan Chase & Co. lifted their price target on shares of 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 price target 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. Finally, Truist Financial initiated coverage on shares of Globe Life in a research report on Tuesday, July 15th. They set a "buy" rating and a $150.00 price target for the company. 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 MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.