Livforsakringsbolaget Skandia Omsesidigt Has $7.37 Million Stock Position in Globe Life Inc. $GL

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Globe Life Inc. by 248.8% during the second quarter, acquiring an additional 42,300 shares to total approximately 0.07% of the company valued at $7.37 million.
• Insider transactions revealed that both EVP Michael Clay Majors and CEO Frank M. Svoboda sold significant amounts of company stock, decreasing their ownership by 17.52% and 27.63%, respectively.
• Globe Life reported $3.27 earnings per share for the last quarter, exceeding analyst estimates, and has announced a quarterly dividend of $0.27 payable on October 31st.

Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Globe Life Inc. (NYSE:GL - Free Report) by 248.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 59,300 shares of the company's stock after purchasing an additional 42,300 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt owned 0.07% of Globe Life worth $7,370,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

GL has been the subject of several research analyst reports. BMO Capital Markets reissued 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. Cfra Research raised Globe Life to a "moderate buy" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. increased their price objective on Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Morgan Stanley increased their price objective on Globe Life from $166.00 to $171.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Finally, Wells Fargo & Company increased their price objective on Globe Life from $144.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. One 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $152.45.

Globe Life Stock Up 1.5%

Shares of GL traded up $2.17 during midday trading on Tuesday, reaching $147.42. 135,335 shares of the stock were exchanged, compared to its average volume of 636,327. Globe Life Inc. has a 12-month low of $100.27 and a 12-month high of $147.83. The firm has a 50 day simple moving average of $137.27 and a 200-day simple moving average of $127.48. 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 cap of $11.94 billion, a price-to-earnings ratio of 11.78 and a beta of 0.56.

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

Globe Life Announces Dividend

The business also recently disclosed 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 of this dividend is Friday, October 3rd. Globe Life's dividend payout ratio (DPR) is presently 8.63%.

Insider Buying and Selling

In related news, CEO Frank M. Svoboda sold 12,500 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The stock was 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 of the company's stock, valued at approximately $4,629,770.86. This trade represents a 27.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $140.97, for a total value of $4,081,363.44. Following the completion of the transaction, the chief financial officer directly owned 30,665 shares in the company, valued at $4,322,845.05. The trade was a 48.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 84,722 shares of company stock valued at $11,733,793 over the last 90 days. 1.97% of the stock is currently owned by 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.