Globe Life Inc. $GL Shares Purchased by Livforsakringsbolaget Skandia Omsesidigt

Key Points

• Livforsakringsbolaget Skandia Omsesidigt significantly increased its stake in Globe Life Inc. by 1,270.8% during the second quarter, owning a total of 233,030 shares worth approximately $28.96 million.
• Wall Street analysts have shown optimism for Globe Life, with firms like Wells Fargo and Morgan Stanley raising price targets, currently averaging $152.45.
• Globe Life recently announced a quarterly dividend of $0.27 per share, yielding around 0.8%, with the ex-dividend date set for October 3rd.

Livforsakringsbolaget Skandia Omsesidigt grew its position in Globe Life Inc. (NYSE:GL - Free Report) by 1,270.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 233,030 shares of the company's stock after buying an additional 216,030 shares during the period. Globe Life accounts for about 0.0% of Livforsakringsbolaget Skandia Omsesidigt's portfolio, making the stock its 28th largest position. Livforsakringsbolaget Skandia Omsesidigt owned approximately 0.28% of Globe Life worth $28,963,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in Globe Life by 9.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,741,131 shares of the company's stock valued at $229,323,000 after acquiring an additional 148,397 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Globe Life by 35.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,025,984 shares of the company's stock valued at $135,143,000 after acquiring an additional 271,253 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Globe Life in the 1st quarter worth $131,608,000. Swedbank AB boosted its position in shares of Globe Life by 77.0% in the 1st quarter. Swedbank AB now owns 832,000 shares of the company's stock worth $109,591,000 after purchasing an additional 362,000 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Globe Life by 15,553.5% in the 1st quarter. GAMMA Investing LLC now owns 781,890 shares of the company's stock worth $102,991,000 after purchasing an additional 776,895 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on GL shares. Morgan Stanley raised their price target on Globe Life from $166.00 to $171.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. BMO Capital Markets reissued a "market perform" rating and issued a $149.00 price target (up previously from $114.00) on shares of Globe Life in a report on Wednesday, July 30th. Wells Fargo & Company lifted their target price on shares of Globe Life from $144.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Keefe, Bruyette & Woods lifted their price objective on shares of Globe Life from $145.00 to $155.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Globe Life has an average rating of "Moderate Buy" and an average price target of $152.45.

Globe Life Price Performance

GL stock traded up $1.74 during mid-day trading on Friday, reaching $145.37. The company's stock had a trading volume of 1,416,161 shares, compared to its average volume of 437,438. The stock has a market cap of $11.77 billion, a PE ratio of 11.62 and a beta of 0.56. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.43. Globe Life Inc. has a fifty-two week low of $100.27 and a fifty-two week high of $146.18. The company's 50 day moving average is $136.78 and its two-hundred day moving average is $127.32.

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

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be paid a $0.27 dividend. 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 0.7%. Globe Life's dividend payout ratio (DPR) is 8.63%.

Insider Buying and Selling

In other Globe Life news, EVP Michael Clay Majors sold 10,000 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $137.41, for a total value of $1,374,100.00. Following the completion of the sale, the executive vice president directly owned 47,066 shares of the company's stock, valued at $6,467,339.06. This trade represents a 17.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the firm's stock in a transaction 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 completion of the sale, the chief financial officer directly owned 30,665 shares of the company's stock, valued at $4,322,845.05. This trade represents a 48.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 84,722 shares of company stock valued at $11,733,793 over the last 90 days. Insiders own 1.51% of the company's stock.

Globe Life 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.