5,269 Shares in Globe Life Inc. $GL Purchased by Invst LLC

Key Points

• Invst LLC acquired 5,269 shares of Globe Life Inc. (NYSE:GL) worth approximately $694,000 in the first quarter.
• Several institutional investors, including SouthState Corp and Ransom Advisory Ltd, also added new stakes in Globe Life during the same period, with 81.61% of the stock now owned by hedge funds and institutional investors.
• Globe Life's CFO recently sold 28,952 shares, resulting in a 48.56% decrease in their ownership, while analysts have raised stock price targets, giving the company a consensus rating of "Moderate Buy" with an average target price of $152.45.

Invst LLC bought a new position in shares of Globe Life Inc. (NYSE:GL - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,269 shares of the company's stock, valued at approximately $694,000.

A number of other large investors have also recently bought and sold shares of GL. Strs Ohio acquired a new stake in shares of Globe Life during the 1st quarter worth about $2,124,000. Ellsworth Advisors LLC bought a new stake in Globe Life during the 1st quarter worth approximately $4,472,000. Acadian Asset Management LLC bought a new position in Globe Life in the 1st quarter valued at $322,000. Geneos Wealth Management Inc. boosted its stake in Globe Life by 3.1% in the first quarter. Geneos Wealth Management Inc. now owns 3,717 shares of the company's stock worth $490,000 after purchasing an additional 113 shares in the last quarter. Finally, Focus Partners Wealth grew its holdings in shares of Globe Life by 8.3% during the first quarter. Focus Partners Wealth now owns 8,559 shares of the company's stock worth $1,127,000 after purchasing an additional 656 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GL has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price target on Globe Life from $144.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Cfra Research upgraded shares of Globe Life to a "moderate buy" rating in a research report on Friday, July 25th. Truist Financial began coverage on Globe Life in a report on Tuesday, July 15th. They set a "buy" rating and a $150.00 price objective on the stock. BMO Capital Markets reaffirmed a "market perform" rating and issued a $149.00 price objective (up from $114.00) on shares of Globe Life in a research note on Wednesday, July 30th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Globe Life from $145.00 to $155.00 and gave the company 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 issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Globe Life currently has a consensus rating of "Moderate Buy" and a consensus target price of $152.45.

Globe Life Stock Performance

NYSE:GL traded up $1.62 during trading on Thursday, reaching $144.42. The company's stock had a trading volume of 156,500 shares, compared to its average volume of 632,295. The firm has a market cap of $11.70 billion, a price-to-earnings ratio of 11.54 and a beta of 0.56. Globe Life Inc. has a 12 month low of $100.27 and a 12 month high of $144.45. 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 firm has a 50 day moving average of $135.75 and a 200-day moving average of $127.06.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $3.27 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the firm posted $2.97 earnings per share. The company's revenue for the quarter was up 2.9% on a year-over-year basis. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. Research analysts expect that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Dividend Announcement

The business also recently announced 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 yield of 0.7%. The ex-dividend date of this dividend is Friday, October 3rd. Globe Life's dividend payout ratio (DPR) is currently 8.63%.

Insider Activity at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 12,500 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was 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 in the company, valued at $4,629,770.86. This trade represents a 27.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Clay Majors sold 10,000 shares of the company's stock in a transaction dated 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 sale, the executive vice president owned 47,066 shares of the company's stock, valued at approximately $6,467,339.06. The trade was a 17.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 84,722 shares of company stock worth $11,733,793 over the last quarter. 1.51% of the stock is currently owned by corporate insiders.

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.