Redwood Investment Management LLC Sells 5,038 Shares of Globe Life Inc. $GL

Key Points

• Redwood Investment Management LLC sold 5,038 shares of Globe Life Inc., reducing its stake by 15.1%, holding a total of 28,255 shares valued at approximately $3.72 million.
• Globe Life reported an earnings per share of $3.27 for the latest quarter, exceeding analysts' expectations, with revenue of $1.48 billion but slightly below the projected $1.50 billion.
• The company declared a quarterly dividend of $0.27, payable on October 31st, reflecting an annualized dividend yield of 0.8% and a payout ratio of 8.63%.

Redwood Investment Management LLC lessened its stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 15.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 28,255 shares of the company's stock after selling 5,038 shares during the period. Redwood Investment Management LLC's holdings in Globe Life were worth $3,722,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of GL. Nuveen LLC acquired a new stake in shares of Globe Life during the 1st quarter valued at $131,608,000. GAMMA Investing LLC lifted its position in shares of Globe Life by 15,553.5% during the 1st quarter. GAMMA Investing LLC now owns 781,890 shares of the company's stock valued at $102,991,000 after acquiring an additional 776,895 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in shares of Globe Life during the 4th quarter valued at $52,178,000. Ameriprise Financial Inc. lifted its position in shares of Globe Life by 58.6% during the 4th quarter. Ameriprise Financial Inc. now owns 917,994 shares of the company's stock valued at $102,376,000 after acquiring an additional 339,162 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Globe Life in the fourth quarter valued at $20,505,000. Institutional investors and hedge funds own 81.61% of the company's stock.

Globe Life Stock Down 0.4%

Globe Life stock traded down $0.54 during mid-day trading on Friday, hitting $139.93. 448,689 shares of the company's stock were exchanged, compared to its average volume of 603,582. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.43. The stock has a market cap of $11.33 billion, a P/E ratio of 10.83 and a beta of 0.56. Globe Life Inc. has a 1-year low of $99.04 and a 1-year high of $144.00. The stock has a 50 day moving average of $130.43 and a two-hundred day moving average of $125.36.

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

Globe Life Dividend Announcement

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

Insider Buying and Selling at Globe Life

In other Globe Life news, EVP Michael Clay Majors sold 10,000 shares of the stock in a transaction on 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 transaction, the executive vice president directly owned 47,066 shares of the company's stock, valued at $6,467,339.06. This represents a 17.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $140.97, for a total transaction of $4,081,363.44. Following the sale, the chief financial officer owned 30,665 shares of the company's stock, valued at $4,322,845.05. This trade represents a 48.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,722 shares of company stock valued at $11,733,793. Corporate insiders own 1.51% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Cfra Research upgraded Globe Life to a "moderate buy" rating in a report on Friday, July 25th. 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 report on Tuesday, July 8th. Morgan Stanley increased their target price on Globe Life from $166.00 to $171.00 and gave the company an "overweight" rating in a report on Monday, August 18th. 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 report on Friday, July 25th. Finally, Truist Financial assumed coverage on Globe Life in a report on Tuesday, July 15th. They issued a "buy" rating and a $150.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $152.45.

Globe Life Company 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.