Great Lakes Advisors LLC Lowers Holdings in Globe Life Inc. $GL

Key Points

• Great Lakes Advisors LLC reduced its holdings in Globe Life Inc. by 12.8%, now owning approximately 0.24% of the company valued at $25.98 million after selling nearly 29,000 shares in the first quarter.
• Multiple institutional investors, including Bank of America and Deutsche Bank, have increased their stakes in Globe Life significantly during the fourth quarter.
• Globe Life recently announced a quarterly dividend of $0.27 per share, representing an annualized yield of 0.8%, with the payment date set for October 31st.

Great Lakes Advisors LLC trimmed its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 12.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 197,218 shares of the company's stock after selling 28,921 shares during the period. Great Lakes Advisors LLC owned about 0.24% of Globe Life worth $25,977,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in GL. Bank of America Corp DE lifted its position in shares of Globe Life by 10.6% in the fourth quarter. Bank of America Corp DE now owns 387,107 shares of the company's stock valued at $43,170,000 after acquiring an additional 36,986 shares in the last quarter. Baird Financial Group Inc. lifted its position in shares of Globe Life by 27.8% in the fourth quarter. Baird Financial Group Inc. now owns 4,220 shares of the company's stock valued at $471,000 after acquiring an additional 919 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Globe Life by 62.1% in the fourth quarter. Deutsche Bank AG now owns 420,970 shares of the company's stock worth $46,947,000 after buying an additional 161,302 shares in the last quarter. Ethic Inc. lifted its position in shares of Globe Life by 103.6% in the fourth quarter. Ethic Inc. now owns 20,578 shares of the company's stock worth $2,295,000 after buying an additional 10,471 shares in the last quarter. Finally, Graham Capital Management L.P. lifted its position in shares of Globe Life by 46.2% in the fourth quarter. Graham Capital Management L.P. now owns 10,238 shares of the company's stock worth $1,142,000 after buying an additional 3,233 shares in the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Morgan Stanley boosted their target price on Globe Life from $166.00 to $171.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Truist Financial assumed coverage on Globe Life in a research report on Tuesday, July 15th. They issued a "buy" rating and a $150.00 target price on the stock. BMO Capital Markets reiterated a "market perform" rating and issued a $149.00 target price (up from $114.00) on shares of Globe Life in a research report on Wednesday, July 30th. Wall Street Zen upgraded Globe Life from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Finally, Keefe, Bruyette & Woods boosted their target price on Globe Life from $145.00 to $155.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. One investment 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 company's stock. Based on data from MarketBeat.com, Globe Life presently has a consensus rating of "Moderate Buy" and an average target price of $152.45.

Insiders Place Their Bets

In other news, EVP Michael Clay Majors sold 10,000 shares of the company's 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 approximately $6,467,339.06. This represents a 17.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Frank M. Svoboda sold 12,500 shares of the company's 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 transaction, the chief executive officer directly owned 32,747 shares in the company, valued at approximately $4,629,770.86. This represents a 27.63% decrease in their position. 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. Corporate insiders own 1.97% of the company's stock.

Globe Life Trading Down 1.2%

Shares of NYSE GL opened at $139.73 on Monday. The business's 50 day moving average is $132.57 and its two-hundred day moving average is $126.13. 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 1-year low of $99.04 and a 1-year high of $144.00. The stock has a market capitalization of $11.32 billion, a P/E ratio of 11.17 and a beta of 0.56.

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

Globe Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.27 per share. 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 currently 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.

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