Globe Life Inc. $GL Stock Holdings Lowered by Pensionfund Sabic

Key Points

• Pensionfund Sabic has reduced its stake in Globe Life Inc. by 34.7%, now holding 7,700 shares valued at approximately $1,014,000.
• Globe Life reported earnings of $3.27 per share for the last quarter, exceeding expectations, with total revenue of $1.48 billion, showing a 2.9% year-over-year increase.
• The firm announced a quarterly dividend of $0.27 to be paid on October 31st, marking a 0.8% dividend yield with a payout ratio of 8.63%.

Pensionfund Sabic lessened its stake in Globe Life Inc. (NYSE:GL - Free Report) by 34.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,700 shares of the company's stock after selling 4,100 shares during the quarter. Pensionfund Sabic's holdings in Globe Life were worth $1,014,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in GL. SouthState Corp purchased a new position in Globe Life during the 1st quarter valued at about $43,000. Ransom Advisory Ltd purchased a new position in Globe Life during the 1st quarter valued at about $50,000. SVB Wealth LLC purchased a new position in Globe Life during the 1st quarter valued at about $63,000. Allworth Financial LP increased its holdings in Globe Life by 22.0% during the 1st quarter. Allworth Financial LP now owns 571 shares of the company's stock valued at $71,000 after acquiring an additional 103 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in Globe Life by 140.2% during the 1st quarter. Versant Capital Management Inc now owns 586 shares of the company's stock valued at $77,000 after acquiring an additional 342 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company's stock.

Globe Life Stock Up 0.3%

Shares of NYSE GL traded up $0.50 during trading on Friday, reaching $144.13. 170,499 shares of the stock were exchanged, compared to its average volume of 632,299. The business's 50-day moving average price is $136.24 and its 200 day moving average price is $127.17. Globe Life Inc. has a twelve month low of $100.27 and a twelve month high of $144.51. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $11.67 billion, a price-to-earnings ratio of 11.52 and a beta of 0.56.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates 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 was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.97 earnings per share. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. As a group, equities analysts forecast that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Announces Dividend

The business also recently declared 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. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, October 3rd. Globe Life's payout ratio is 8.63%.

Insider Buying and Selling at Globe Life

In other Globe Life news, EVP Michael Clay Majors sold 10,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were 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. The trade was a 17.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Frank M. Svoboda sold 12,500 shares of the business's stock in a transaction 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 sale, the chief executive officer owned 32,747 shares of the company's stock, 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 84,722 shares of company stock worth $11,733,793 in the last ninety days. 1.51% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on GL. Wells Fargo & Company lifted their price target 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. BMO Capital Markets reiterated a "market perform" rating and set a $149.00 price target (up from $114.00) on shares of Globe Life in a report on Wednesday, July 30th. 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 price target for the company. 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 report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Globe Life from $145.00 to $155.00 and gave the company an "outperform" rating in a report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.