Canada Pension Plan Investment Board Decreases Stock Holdings in Globe Life Inc. $GL

Key Points

• The Canada Pension Plan Investment Board reduced its holdings in Globe Life Inc. by 57.9% in the first quarter, leaving it with 58,300 shares valued at approximately $7.68 million.
• Multiple hedge funds have recently adjusted their positions in Globe Life, with Ieq Capital LLC increasing its stake by 63.8% during the same period.
• Globe Life announced a quarterly dividend of $0.27 per share, set to be paid on October 31st, representing an annualized yield of 0.8%.

Canada Pension Plan Investment Board lessened its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 57.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,300 shares of the company's stock after selling 80,300 shares during the period. Canada Pension Plan Investment Board owned approximately 0.07% of Globe Life worth $7,679,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in Globe Life by 9.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,741,131 shares of the company's stock worth $229,323,000 after purchasing an additional 148,397 shares in the last quarter. Nuveen LLC acquired a new position in Globe Life in the first quarter worth about $131,608,000. Ameriprise Financial Inc. raised its position in Globe Life by 58.6% in the fourth quarter. Ameriprise Financial Inc. now owns 917,994 shares of the company's stock worth $102,376,000 after purchasing an additional 339,162 shares in the last quarter. GAMMA Investing LLC raised its position in Globe Life by 15,553.5% in the first quarter. GAMMA Investing LLC now owns 781,890 shares of the company's stock worth $102,991,000 after purchasing an additional 776,895 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Globe Life by 0.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 781,409 shares of the company's stock worth $102,927,000 after purchasing an additional 3,312 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Globe Life Stock Down 0.4%

GL traded down $0.60 during midday trading on Monday, reaching $139.21. 37,224 shares of the company were exchanged, compared to its average volume of 639,984. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.06 and a current ratio of 0.06. The company's fifty day moving average price is $132.57 and its 200 day moving average price is $126.13. The company has a market cap of $11.28 billion, a price-to-earnings ratio of 11.10 and a beta of 0.56. Globe Life Inc. has a one year low of $99.04 and a one year 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, 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 business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the firm posted $2.97 EPS. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. As a group, analysts expect that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Announces Dividend

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 paid a $0.27 dividend. The ex-dividend date is Friday, October 3rd. This represents a $1.08 annualized dividend and a yield of 0.8%. Globe Life's dividend payout ratio is presently 8.63%.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 12,500 shares of the 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 sale, the chief executive officer directly owned 32,747 shares in the company, valued at $4,629,770.86. This represents a 27.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Matthew Darden sold 33,270 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $135.59, for a total transaction of $4,511,079.30. Following the completion of the transaction, the chief executive officer directly owned 49,842 shares in the company, valued at approximately $6,758,076.78. The trade was a 40.03% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 84,722 shares of company stock valued at $11,733,793. 1.97% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GL has been the topic of several research analyst reports. Morgan Stanley upped their price objective on shares of Globe Life from $166.00 to $171.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Wells Fargo & Company raised their price objective on shares of Globe Life from $144.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. BMO Capital Markets restated a "market perform" rating and set a $149.00 target price (up from $114.00) on shares of Globe Life in a research report on Wednesday, July 30th. 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 on the stock. Finally, Wall Street Zen upgraded shares of Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock 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.