HighTower Advisors LLC Lowers Stake in Globe Life Inc. $GL

Key Points

• HighTower Advisors LLC reduced its holdings in Globe Life Inc. by 31.8%, from 22,009 to 15,005 shares, which are valued at approximately $1.98 million as of the last reporting period.
• Several other institutional investors, including Tower Research Capital and Hsbc Holdings PLC, increased their stakes in Globe Life during the same time frame, showcasing varied investor sentiment towards the stock.
• Analysts have raised target prices on Globe Life stock, with Wells Fargo increasing its target from $144 to $150 and JPMorgan raising it from $145 to $160, indicating a strong outlook for the company.

HighTower Advisors LLC lowered its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 31.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,005 shares of the company's stock after selling 7,004 shares during the period. HighTower Advisors LLC's holdings in Globe Life were worth $1,976,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GL. Principal Financial Group Inc. lifted its stake in 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 acquiring an additional 3,960 shares in the last quarter. DAVENPORT & Co LLC acquired a new position in Globe Life during the 1st quarter worth about $493,000. Atlas Capital Advisors Inc. acquired a new position in Globe Life during the 1st quarter worth about $893,000. Sequoia Financial Advisors LLC lifted 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 in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted 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 in the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Wall Street Analysts Forecast Growth

GL has been the topic of several research reports. Wells Fargo & Company increased their target price on Globe Life from $144.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. increased their price target on Globe Life from $145.00 to $160.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Wall Street Zen raised Globe Life from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Piper Sandler reduced their price target on Globe Life from $152.00 to $147.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Finally, Truist Financial began coverage on Globe Life in a research report on Tuesday, July 15th. They issued a "buy" rating and a $150.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $152.45.

Insider Transactions at Globe Life

In other Globe Life news, EVP Michael Clay Majors sold 10,000 shares of Globe Life 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 transaction, the executive vice president owned 47,066 shares of the company's stock, 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 filing with the SEC, which is available at this hyperlink. Also, CEO James Matthew Darden sold 33,270 shares of Globe Life stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $135.59, for a total value of $4,511,079.30. Following the completion of the transaction, the chief executive officer owned 49,842 shares in the company, valued at $6,758,076.78. This trade represents a 40.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,722 shares of company stock worth $11,733,793. 1.51% of the stock is currently owned by corporate insiders.

Globe Life Stock Down 0.1%

Shares of NYSE GL traded down $0.09 during midday trading on Thursday, hitting $140.40. 161,579 shares of the company's stock were exchanged, compared to its average volume of 648,542. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.06 and a quick ratio of 0.06. Globe Life Inc. has a twelve month low of $99.04 and a twelve month high of $144.00. The company has a market cap of $11.37 billion, a PE ratio of 11.22 and a beta of 0.56. The firm's fifty day simple moving average is $130.01 and its 200-day simple moving average is $125.24.

Globe Life (NYSE:GL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share for the quarter, topping the consensus estimate of $3.25 by $0.02. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.50 billion. Globe Life had a return on equity of 21.24% and a net margin of 18.11%.The business's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company earned $2.97 EPS. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. Research analysts predict that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.08 annualized dividend and a yield of 0.8%. Globe Life's payout ratio is 8.63%.

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.