Kaufman Rossin Wealth LLC Makes New Investment in Globe Life Inc. $GL

Key Points

• Kaufman Rossin Wealth LLC acquired 2,081 shares of Globe Life Inc. valued at approximately $259,000 during the 2nd quarter, indicating growing institutional interest in the company.
• CEO Frank M. Svoboda and CFO Thomas Peter Kalmbach sold significant shares of Globe Life stock, with the CEO's transaction amounting to over $1.76 million and a notable drop in their ownership positions.
• Globe Life announced a quarterly dividend of $0.27 per share, with an annualized yield of 0.7%, signaling the company's intent to return value to shareholders.

Kaufman Rossin Wealth LLC acquired a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,081 shares of the company's stock, valued at approximately $259,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Globe Life by 4.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,784 shares of the company's stock valued at $980,000 after buying an additional 385 shares during the last quarter. Royal Bank of Canada raised its position in Globe Life by 11.7% in the 4th quarter. Royal Bank of Canada now owns 153,579 shares of the company's stock valued at $17,127,000 after buying an additional 16,137 shares during the last quarter. Tidal Investments LLC raised its position in Globe Life by 8.0% in the 4th quarter. Tidal Investments LLC now owns 10,271 shares of the company's stock valued at $1,145,000 after buying an additional 760 shares during the last quarter. Woodline Partners LP acquired a new stake in Globe Life in the 4th quarter valued at approximately $5,636,000. Finally, Waverly Advisors LLC increased its holdings in shares of Globe Life by 10.8% during the 4th quarter. Waverly Advisors LLC now owns 5,662 shares of the company's stock worth $631,000 after acquiring an additional 554 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Insider Transactions at Globe Life

In other news, CEO James Matthew Darden sold 33,270 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $135.59, for a total value of $4,511,079.30. Following the completion of the sale, the chief executive officer owned 49,842 shares of the company's stock, valued at approximately $6,758,076.78. This represents a 40.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $140.97, for a total value of $4,081,363.44. Following the sale, the chief financial officer directly owned 30,665 shares of the company's stock, valued at $4,322,845.05. This represents a 48.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 84,722 shares of company stock valued at $11,733,793 over the last three months. Company insiders own 1.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GL shares. 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 report on Monday, July 28th. Wells Fargo & Company upped their price objective on Globe Life from $144.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Truist Financial started coverage on Globe Life in a report on Tuesday, July 15th. They issued a "buy" rating and a $150.00 price objective on the stock. Morgan Stanley upped their price objective on Globe Life from $166.00 to $171.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Finally, Cfra Research raised Globe Life to a "moderate buy" rating in a report on Friday, July 25th. One equities research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $152.45.

Globe Life Price Performance

Shares of GL stock traded down $0.28 on Monday, hitting $145.15. 609,643 shares of the company's stock were exchanged, compared to its average volume of 639,183. 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 12 month low of $100.27 and a 12 month high of $146.18. The stock has a market cap of $11.76 billion, a P/E ratio of 11.60 and a beta of 0.56. The company has a 50 day moving average of $136.78 and a 200 day moving average of $127.34.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings data 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. Globe Life had a return on equity of 21.24% and a net margin of 18.11%.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 company earned $2.97 EPS. Globe Life'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. On average, equities research analysts predict that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be given a $0.27 dividend. The ex-dividend date is Friday, October 3rd. This represents a $1.08 annualized dividend and a yield of 0.7%. Globe Life's dividend payout ratio (DPR) 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.