Ieq Capital LLC Has $7.97 Million Position in Globe Life Inc. $GL

Key Points

• Ieq Capital LLC increased its stake in Globe Life Inc. by 63.8% during the first quarter, owning 60,480 shares valued at approximately $7.97 million by the end of the period.
• Globe Life reported a quarterly earnings per share (EPS) of $3.27, slightly beating analysts' estimates, while revenue slightly missed projections at $1.48 billion.
• The company has set its fiscal year 2025 guidance at 14.250-14.650 EPS and declared a quarterly dividend of $0.27, representing an annual yield of 0.8%.

Ieq Capital LLC lifted its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 63.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,480 shares of the company's stock after buying an additional 23,553 shares during the quarter. Ieq Capital LLC owned about 0.07% of Globe Life worth $7,966,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. grew its position in shares of Globe Life by 4.1% during the 1st quarter. Principal Financial Group Inc. now owns 101,679 shares of the company's stock worth $13,393,000 after buying an additional 3,960 shares during the period. DAVENPORT & Co LLC bought a new position in Globe Life during the 1st quarter worth approximately $493,000. Atlas Capital Advisors Inc. bought a new position in Globe Life during the 1st quarter worth approximately $893,000. Sequoia Financial Advisors LLC boosted its stake in Globe Life by 693.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 24,184 shares of the company's stock worth $3,185,000 after acquiring an additional 21,136 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Globe Life by 8.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,711 shares of the company's stock worth $1,260,000 after acquiring an additional 723 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Insider Activity at Globe Life

In other news, EVP Michael Clay Majors sold 10,000 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $137.41, for a total value of $1,374,100.00. Following the completion of the transaction, the executive vice president owned 47,066 shares of the company's stock, valued at approximately $6,467,339.06. This 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 can be accessed through the SEC website. 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 completion of the transaction, the chief financial officer directly owned 30,665 shares of the company's stock, valued at $4,322,845.05. This trade represents a 48.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,722 shares of company stock worth $11,733,793 over the last three months. 1.97% of the stock is owned by insiders.

Globe Life Price Performance

GL traded down $0.24 on Tuesday, hitting $139.71. 250,373 shares of the stock were exchanged, compared to its average volume of 646,408. Globe Life Inc. has a 12 month low of $99.04 and a 12 month high of $144.00. The business has a 50-day moving average of $131.18 and a two-hundred day moving average of $125.66. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.06 and a quick ratio of 0.06. The firm has a market capitalization of $11.32 billion, a price-to-earnings ratio of 11.17 and a beta of 0.56.

Globe Life (NYSE:GL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $3.27 EPS for the quarter, topping 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% 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. Sell-side analysts forecast that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.8%. Globe Life's dividend payout ratio is 8.63%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. BMO Capital Markets reissued a "market perform" rating and set a $149.00 price objective (up previously from $114.00) on shares of Globe Life in a research note on Wednesday, July 30th. Truist Financial assumed coverage on shares of Globe Life in a research note on Tuesday, July 15th. They set a "buy" rating and a $150.00 price objective on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Globe Life from $145.00 to $155.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Wall Street Zen raised shares of Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, Morgan Stanley lifted their price target 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. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $152.45.

About Globe Life

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.