Redwood Investment Management LLC Reduces Position in 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 reduced its position in Globe Life Inc. (NYSE:GL - Free Report) by 15.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,255 shares of the company's stock after selling 5,038 shares during the quarter. Redwood Investment Management LLC's holdings in Globe Life were worth $3,722,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its stake in shares of Globe Life by 8.8% in 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 in the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of Globe Life in the 4th quarter valued at approximately $391,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Globe Life in the 4th quarter valued at approximately $1,194,000. The Manufacturers Life Insurance Company boosted its stake in shares of Globe Life by 1.5% in 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 in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Globe Life by 3.3% in 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 in the last quarter. 81.61% of the stock is owned by institutional investors.

Globe Life Trading Down 0.4%

Shares of NYSE GL traded down $0.54 during midday trading on Friday, reaching $139.93. The stock had a trading volume of 448,689 shares, compared to its average volume of 603,582. The firm 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 twelve month low of $99.04 and a twelve month high of $144.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.06 and a current ratio of 0.06. The company's 50 day moving average price is $130.82 and its 200 day moving average price is $125.52.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings results 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 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 company's revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.97 EPS. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. As a group, sell-side analysts expect that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Dividend Announcement

The firm 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 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 payout ratio is 8.63%.

Analysts Set New Price Targets

Several equities research analysts recently commented on GL shares. Cfra Research upgraded shares of Globe Life to a "moderate buy" rating in a research report on Friday, July 25th. Morgan Stanley lifted 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. Wells Fargo & Company lifted their target price on shares of Globe Life from $144.00 to $150.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Wall Street Zen upgraded shares of Globe Life from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $152.45.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO James Matthew Darden sold 33,270 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $135.59, for a total transaction of $4,511,079.30. Following the completion of the sale, the chief executive officer owned 49,842 shares in the company, valued at approximately $6,758,076.78. The trade was a 40.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the company's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $140.97, for a total transaction of $4,081,363.44. Following the completion of the sale, the chief financial officer owned 30,665 shares of the company's stock, valued at approximately $4,322,845.05. The trade was a 48.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 84,722 shares of company stock worth $11,733,793. Company insiders own 1.51% of the company's stock.

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.