Quarry LP Acquires 3,681 Shares of Globe Life Inc. $GL

Key Points

• Quarry LP increased its stake in Globe Life Inc. by 895.6%, now owning 4,092 shares valued at $539,000 as of its latest SEC filing.
• Several large investors, including Nuveen LLC and GAMMA Investing LLC, have significantly increased their holdings in Globe Life, indicating strong interest in the stock among institutional investors.
• Globe Life recently reported earnings of $3.27 per share, slightly exceeding analysts' expectations, and announced a quarterly dividend of $0.27 per share, reflecting a yield of 0.8%.

Quarry LP lifted its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 895.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,092 shares of the company's stock after buying an additional 3,681 shares during the period. Quarry LP's holdings in Globe Life were worth $539,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SouthState Corp acquired a new position in shares of Globe Life during the first quarter worth approximately $43,000. SVB Wealth LLC acquired a new position in shares of Globe Life during the first quarter worth approximately $63,000. Allworth Financial LP boosted its position in shares of Globe Life by 22.0% during the first quarter. Allworth Financial LP now owns 571 shares of the company's stock worth $71,000 after buying an additional 103 shares during the period. Versant Capital Management Inc boosted its position 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 worth $77,000 after buying an additional 342 shares during the period. Finally, Brooklyn Investment Group boosted its position in shares of Globe Life by 792.7% during the first quarter. Brooklyn Investment Group now owns 732 shares of the company's stock worth $96,000 after buying an additional 650 shares during the period. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Stock Up 0.5%

Shares of NYSE:GL traded up $0.76 on Thursday, reaching $141.33. The company had a trading volume of 409,283 shares, compared to its average volume of 645,405. Globe Life Inc. has a twelve month low of $99.04 and a twelve month high of $144.00. The stock has a 50-day moving average price of $131.89 and a 200 day moving average price of $125.86. The stock has a market capitalization of $11.45 billion, a P/E ratio of 11.30 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.

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 analysts' consensus estimates 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 quarter in the previous year, the firm earned $2.97 earnings per share. The business's quarterly 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 analysts expect that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Dividend Announcement

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 given 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 0.8%. Globe Life's payout ratio is currently 8.63%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GL shares. 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 report on Wednesday, July 30th. Cfra Research upgraded Globe Life to a "moderate buy" rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods increased their price objective on Globe Life from $145.00 to $155.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Wall Street Zen raised Globe Life from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, Wells Fargo & Company raised their target price on Globe Life from $144.00 to $150.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Globe Life has a consensus rating of "Moderate Buy" and a consensus price target of $152.45.

Insider Buying and Selling

In other news, EVP Michael Clay Majors sold 10,000 shares of Globe Life stock in a transaction dated 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 transaction, the executive vice president directly owned 47,066 shares in the company, valued at approximately $6,467,339.06. The trade was a 17.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of Globe Life stock in a transaction dated 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 transaction, the chief financial officer owned 30,665 shares in the company, valued at $4,322,845.05. The trade was 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 worth $11,733,793 over the last ninety days. 1.51% of the stock is currently owned by corporate insiders.

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.