MBB Public Markets I LLC Makes New Investment in Globe Life Inc. $GL

Key Points

• MBB Public Markets I LLC has made a new investment of approximately $327,000 in Globe Life Inc., acquiring 2,482 shares during the 1st quarter.
• Brokerage ratings for Globe Life show a consensus of "Moderate Buy" with a target price of $152.45, indicating optimism from analysts about the stock's future performance.
• Globe Life has recently announced a quarterly dividend of $0.27 per share, with an ex-dividend date set for October 3rd, reflecting a 0.8% dividend yield.

MBB Public Markets I LLC purchased a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,482 shares of the company's stock, valued at approximately $327,000.

Several other hedge funds also recently added to or reduced their stakes in GL. SouthState Corp bought a new position in Globe Life during the 1st quarter valued at about $43,000. SVB Wealth LLC bought a new position in Globe Life during the 1st quarter valued at about $63,000. Allworth Financial LP grew its holdings in Globe Life by 22.0% during the 1st quarter. Allworth Financial LP now owns 571 shares of the company's stock valued at $71,000 after purchasing an additional 103 shares during the last quarter. Versant Capital Management Inc grew its holdings in Globe Life by 140.2% during the 1st quarter. Versant Capital Management Inc now owns 586 shares of the company's stock valued at $77,000 after purchasing an additional 342 shares during the last quarter. Finally, Brooklyn Investment Group grew its holdings in Globe Life by 792.7% during the 1st quarter. Brooklyn Investment Group now owns 732 shares of the company's stock valued at $96,000 after purchasing an additional 650 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Thomas Peter Kalmbach sold 28,952 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $140.97, for a total transaction of $4,081,363.44. Following the completion of the sale, the chief financial officer owned 30,665 shares of the company's stock, valued at $4,322,845.05. This represents a 48.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Clay Majors sold 10,000 shares of the stock in a transaction that occurred on 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 directly owned 47,066 shares of the company's stock, valued at $6,467,339.06. The trade was a 17.52% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 84,722 shares of company stock worth $11,733,793. 1.97% of the stock is currently owned by insiders.

Globe Life Stock Down 0.2%

Shares of GL traded down $0.24 during mid-day trading on Friday, hitting $142.25. The company's stock had a trading volume of 400,575 shares, compared to its average volume of 427,292. The company's 50-day moving average is $134.42 and its 200-day moving average is $126.76. Globe Life Inc. has a 52-week low of $100.27 and a 52-week high of $144.00. The firm has a market capitalization of $11.52 billion, a price-to-earnings ratio of 11.37 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 (NYSE:GL - Get Free Report) last announced its quarterly earnings results 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 net margin of 18.11% and a return on equity of 21.24%. The firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter in the prior year, the company earned $2.97 EPS. The company'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. On average, equities research analysts forecast that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be given 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 yield of 0.8%. Globe Life's dividend payout ratio is presently 8.63%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GL shares. JPMorgan Chase & Co. upped their target price 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. Truist Financial started coverage on shares of Globe Life in a research note on Tuesday, July 15th. They issued a "buy" rating and a $150.00 target price on the stock. Cfra Research upgraded shares of Globe Life to a "moderate buy" rating in a research note on Friday, July 25th. BMO Capital Markets restated a "market perform" rating and issued a $149.00 target price (up from $114.00) on shares of Globe Life in a research note on Wednesday, July 30th. Finally, Wells Fargo & Company upped 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. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $152.45.

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.