Pallas Capital Advisors LLC Purchases 4,334 Shares of Globe Life Inc. $GL

Key Points

• Pallas Capital Advisors LLC increased its stake in Globe Life Inc. by 58.3% during the second quarter, acquiring an additional 4,334 shares, bringing their total to 11,766 shares worth approximately $1.46 million.
• Insider selling was notable, with CFO Thomas Peter Kalmbach and CEO Frank M. Svoboda selling significant shares, leading to a respective decrease of 48.56% and 27.63% in their positions.
• Globe Life declared a quarterly dividend of $0.27 to be paid on October 31st, which represents an annualized yield of 0.8%.

Pallas Capital Advisors LLC grew its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 58.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,766 shares of the company's stock after acquiring an additional 4,334 shares during the period. Pallas Capital Advisors LLC's holdings in Globe Life were worth $1,462,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. SouthState Corp acquired a new stake in shares of Globe Life in the 1st quarter worth about $43,000. Ransom Advisory Ltd purchased a new position in shares of Globe Life in the 1st quarter worth about $50,000. SVB Wealth LLC purchased a new position in shares of Globe Life in the first quarter worth $63,000. Allworth Financial LP boosted its stake in shares of 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 in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Globe Life by 140.2% during the first 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. 81.61% of the stock is currently owned by institutional investors.

Globe Life Trading Up 1.2%

GL stock traded up $1.74 during midday trading on Friday, reaching $145.37. 1,416,161 shares of the company's stock traded hands, compared to its average volume of 437,438. 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 fifty-two week low of $100.27 and a fifty-two week high of $146.18. The business has a 50-day moving average price of $136.78 and a two-hundred day moving average price of $127.32. The company has a market capitalization of $11.77 billion, a P/E ratio of 11.62 and a beta of 0.56.

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

Globe Life Announces Dividend

The business also recently declared 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 yield of 0.7%. Globe Life's payout ratio is presently 8.63%.

Insider Buying and Selling at Globe Life

In related news, CEO Frank M. Svoboda sold 12,500 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $141.38, for a total transaction of $1,767,250.00. Following the sale, the chief executive officer owned 32,747 shares of the company's stock, valued at $4,629,770.86. This trade represents a 27.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO James Matthew Darden sold 33,270 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 49,842 shares of the company's stock, valued at $6,758,076.78. This represents a 40.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,722 shares of company stock worth $11,733,793 in the last three months. 1.51% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Truist Financial initiated coverage on shares of Globe Life in a report on Tuesday, July 15th. They issued a "buy" rating and a $150.00 target price for the company. Keefe, Bruyette & Woods increased their target price on Globe Life from $145.00 to $155.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Morgan Stanley boosted their target price on shares of Globe Life from $166.00 to $171.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Cfra Research upgraded shares of Globe Life to a "moderate buy" rating in a research note on Friday, July 25th. Finally, JPMorgan Chase & Co. boosted their price target on Globe Life from $145.00 to $160.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $152.45.

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.