Rafferty Asset Management LLC Cuts Stock Holdings in Globe Life Inc. $GL

Key Points

• Rafferty Asset Management LLC reduced its stake in Globe Life Inc. by 7.1%, now holding approximately $3.63 million worth of shares as of its latest SEC filing.
• Numerous analysts have recently updated their ratings on Globe Life, with a range of price targets, the highest being $171.00 set by Morgan Stanley.
• Globe Life announced a quarterly dividend of $0.27 per share, set to be paid on October 31st, indicating a dividend yield of 0.8%.

Rafferty Asset Management LLC decreased its position in shares of Globe Life Inc. (NYSE:GL - Free Report) by 7.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,519 shares of the company's stock after selling 2,102 shares during the quarter. Rafferty Asset Management LLC's holdings in Globe Life were worth $3,625,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Amalgamated Bank lifted its position in shares of Globe Life by 0.5% during the 1st quarter. Amalgamated Bank now owns 16,348 shares of the company's stock worth $2,153,000 after buying an additional 85 shares during the last quarter. Pinnacle Wealth Planning Services Inc. boosted its stake in shares of Globe Life by 4.0% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company's stock valued at $256,000 after purchasing an additional 88 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Globe Life by 0.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 19,776 shares of the company's stock valued at $2,605,000 after purchasing an additional 89 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in Globe Life by 1.1% in the 1st quarter. Venturi Wealth Management LLC now owns 8,226 shares of the company's stock valued at $1,084,000 after purchasing an additional 93 shares during the last quarter. Finally, HighPoint Advisor Group LLC boosted 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 buying an additional 95 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Stock Up 0.2%

Shares of Globe Life stock traded up $0.30 during trading on Thursday, reaching $140.87. 68,440 shares of the company traded hands, compared to its average volume of 643,336. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.06 and a quick ratio of 0.06. The firm has a market capitalization of $11.41 billion, a PE ratio of 11.26 and a beta of 0.56. The company has a 50 day moving average price of $131.89 and a 200-day moving average price of $125.86. Globe Life Inc. has a 1-year low of $99.04 and a 1-year high of $144.00.

Globe Life (NYSE:GL - Get Free Report) last issued 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. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. Globe Life had a return on equity of 21.24% and a net margin of 18.11%.The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the business posted $2.97 EPS. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. As a group, equities research analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The business also recently disclosed 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 of this dividend is Friday, October 3rd. Globe Life's payout ratio is currently 8.63%.

Insider Buying and Selling

In other news, CEO James Matthew Darden sold 33,270 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $135.59, for a total value of $4,511,079.30. Following the completion of the sale, the chief executive officer owned 49,842 shares in the company, valued at $6,758,076.78. This represents a 40.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Clay Majors sold 10,000 shares of Globe Life stock in a transaction that occurred 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 approximately $6,467,339.06. This represents a 17.52% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,722 shares of company stock valued at $11,733,793. 1.51% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on GL. JPMorgan Chase & Co. raised their price objective on Globe Life from $145.00 to $160.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Wall Street Zen upgraded shares of Globe Life from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Truist Financial assumed coverage on shares of Globe Life in a report on Tuesday, July 15th. They set a "buy" rating and a $150.00 target price on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Globe Life from $145.00 to $155.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Finally, BMO Capital Markets restated a "market perform" rating and issued a $149.00 price objective (up from $114.00) on shares of Globe Life in a report on Wednesday, July 30th. One investment 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 stock. According to data from MarketBeat, Globe Life presently has a consensus rating of "Moderate Buy" and a consensus 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.