Quantitative Investment Management LLC Sells 12,599 Shares of Globe Life Inc. $GL

Key Points

• Quantitative Investment Management LLC significantly cut its stake in Globe Life Inc. by 75.4%, holding 4,117 shares valued at $542,000 as of its latest SEC filing.
• Analyst ratings for Globe Life have improved, with target prices raised by several firms, placing the consensus price target at $152.45 and indicating a "Moderate Buy" rating.
• The company announced a quarterly dividend of $0.27 per share, with a dividend yield of 0.8%, to be paid on October 31st to stockholders of record on October 3rd.

Quantitative Investment Management LLC reduced its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 75.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,117 shares of the company's stock after selling 12,599 shares during the quarter. Quantitative Investment Management LLC's holdings in Globe Life were worth $542,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GL. Tower Research Capital LLC TRC raised its stake in Globe Life by 8.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,925 shares of the company's stock valued at $661,000 after purchasing an additional 480 shares during the period. Kovitz Investment Group Partners LLC acquired a new stake in Globe Life during the 4th quarter valued at $391,000. Susquehanna Fundamental Investments LLC acquired a new stake in Globe Life during the 4th quarter valued at $1,194,000. The Manufacturers Life Insurance Company raised its stake in Globe Life by 1.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 70,666 shares of the company's stock valued at $7,881,000 after purchasing an additional 1,019 shares during the period. Finally, Northern Trust Corp raised its stake in Globe Life by 3.3% during the 4th quarter. Northern Trust Corp now owns 817,489 shares of the company's stock valued at $91,166,000 after purchasing an additional 26,398 shares during the period. 81.61% of the stock is owned by institutional investors and hedge funds.

Globe Life Stock Down 0.4%

NYSE:GL traded down $0.54 during trading hours on Friday, reaching $139.93. The company's stock had a trading volume of 448,689 shares, compared to its average volume of 588,184. The company has a market cap of $11.33 billion, a price-to-earnings ratio of 11.19 and a beta of 0.56. Globe Life Inc. has a one year low of $99.04 and a one year high of $144.00. The business's 50-day moving average is $130.82 and its 200-day moving average is $125.53. 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 (NYSE:GL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $3.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.25 by $0.02. The firm had revenue of $1.48 billion during 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%. Globe Life's revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.97 earnings per share. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. Equities research analysts predict that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, October 3rd. Globe Life's dividend payout ratio is 8.63%.

Insider Activity

In other Globe Life news, EVP Michael Clay Majors sold 10,000 shares of the company's stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 47,066 shares in the company, valued at $6,467,339.06. This represents a 17.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frank M. Svoboda sold 12,500 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 84,722 shares of company stock valued at $11,733,793 over the last three months. 1.97% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Morgan Stanley boosted their target price on shares of Globe Life from $166.00 to $171.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Cfra Research upgraded shares of Globe Life to a "moderate buy" rating in a report on Friday, July 25th. JPMorgan Chase & Co. boosted their price target on shares of Globe Life from $145.00 to $160.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Wells Fargo & Company boosted their price target on shares of Globe Life from $144.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Finally, Truist Financial started coverage on shares of Globe Life in a report on Tuesday, July 15th. They set a "buy" rating and a $150.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price 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.