Globe Life Inc. $GL Position Cut by Nomura Holdings Inc.

Key Points

• Nomura Holdings Inc. has reduced its stake in Globe Life Inc. by 46.9%, now holding $350,000 worth of shares after selling 2,349 shares in the first quarter.
• Globe Life reported an EPS of $3.27 for the last quarter, slightly beating analyst estimates, and set FY 2025 guidance at 14.250-14.650 EPS.
• The company announced a quarterly dividend of $0.27 to be paid on October 31st, with an annual yield of 0.8%.

Nomura Holdings Inc. decreased its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 46.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,658 shares of the company's stock after selling 2,349 shares during the period. Nomura Holdings Inc.'s holdings in Globe Life were worth $350,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Amalgamated Bank grew its position in Globe Life by 0.5% in the first quarter. Amalgamated Bank now owns 16,348 shares of the company's stock valued at $2,153,000 after acquiring an additional 85 shares in the last quarter. Pinnacle Wealth Planning Services Inc. grew its position in Globe Life by 4.0% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company's stock valued at $256,000 after acquiring an additional 88 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Globe Life by 0.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 19,776 shares of the company's stock valued at $2,605,000 after acquiring an additional 89 shares in the last quarter. Venturi Wealth Management LLC grew its position in Globe Life by 1.1% in the first quarter. Venturi Wealth Management LLC now owns 8,226 shares of the company's stock valued at $1,084,000 after acquiring an additional 93 shares in the last quarter. Finally, HighPoint Advisor Group LLC grew its position in Globe Life by 4.2% in the first quarter. HighPoint Advisor Group LLC now owns 2,366 shares of the company's stock valued at $293,000 after acquiring an additional 95 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Globe Life Stock Up 2.5%

Shares of Globe Life stock traded up $3.49 on Thursday, hitting $142.51. 416,362 shares of the company's stock traded hands, compared to its average volume of 452,968. The stock has a market cap of $11.54 billion, a P/E ratio of 11.39 and a beta of 0.56. 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 firm's 50-day moving average is $134.00 and its 200 day moving average is $126.58. Globe Life Inc. has a 52-week low of $100.21 and a 52-week high of $144.00.

Globe Life (NYSE:GL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $3.27 EPS for the quarter, beating 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 company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same period in the prior year, the business posted $2.97 EPS. The business's 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 analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Announces Dividend

The company 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 dividend of $0.27 per share. The ex-dividend date is Friday, October 3rd. This represents a $1.08 annualized dividend and a yield of 0.8%. Globe Life's dividend payout ratio (DPR) is 8.63%.

Wall Street Analyst Weigh In

GL has been the subject of several recent research reports. Cfra Research raised shares of Globe Life to a "moderate buy" rating in a research report on Friday, July 25th. Morgan Stanley increased their price objective on shares of Globe Life from $166.00 to $171.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Keefe, Bruyette & Woods increased 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. Wells Fargo & Company increased their target price on Globe Life from $144.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Finally, JPMorgan Chase & Co. increased their target price on Globe Life from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Globe Life presently has a consensus rating of "Moderate Buy" and a consensus target price of $152.45.

Insider Transactions at Globe Life

In related 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 transaction of $1,374,100.00. Following the transaction, the executive vice president directly owned 47,066 shares in the company, valued at $6,467,339.06. This trade represents a 17.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Frank M. Svoboda sold 12,500 shares of the firm's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $141.38, for a total value of $1,767,250.00. Following the completion of the sale, the chief executive officer owned 32,747 shares in the company, valued at $4,629,770.86. The trade was a 27.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 84,722 shares of company stock valued at $11,733,793. Company 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.