Royal Bank of Canada Buys 22,143 Shares of Globe Life Inc. $GL

Royal Bank of Canada raised its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 14.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,722 shares of the company's stock after buying an additional 22,143 shares during the quarter. Royal Bank of Canada owned about 0.21% of Globe Life worth $23,147,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Bank of America Corp DE lifted its position in Globe Life by 10.6% in the fourth quarter. Bank of America Corp DE now owns 387,107 shares of the company's stock valued at $43,170,000 after buying an additional 36,986 shares during the last quarter. Baird Financial Group Inc. lifted its position in Globe Life by 27.8% in the fourth quarter. Baird Financial Group Inc. now owns 4,220 shares of the company's stock valued at $471,000 after buying an additional 919 shares during the last quarter. Deutsche Bank AG lifted its position in Globe Life by 62.1% in the fourth quarter. Deutsche Bank AG now owns 420,970 shares of the company's stock valued at $46,947,000 after buying an additional 161,302 shares during the last quarter. Ethic Inc. lifted its position in shares of Globe Life by 103.6% during the fourth quarter. Ethic Inc. now owns 20,578 shares of the company's stock worth $2,295,000 after purchasing an additional 10,471 shares in the last quarter. Finally, Graham Capital Management L.P. lifted its position in shares of Globe Life by 46.2% during the fourth quarter. Graham Capital Management L.P. now owns 10,238 shares of the company's stock worth $1,142,000 after purchasing an additional 3,233 shares in the last quarter. Hedge funds and other institutional investors own 81.61% of the company's stock.

Insiders Place Their Bets

In other Globe Life news, CEO Frank M. Svoboda sold 12,500 shares of Globe Life stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $141.38, for a total value of $1,767,250.00. Following the completion of the transaction, the chief executive officer owned 32,747 shares in the company, valued at approximately $4,629,770.86. The trade was a 27.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Clay Majors sold 10,000 shares of Globe Life stock in a transaction on 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 sale, the executive vice president directly owned 47,066 shares of the company's stock, valued at approximately $6,467,339.06. This trade represents a 17.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,722 shares of company stock worth $11,733,793. 1.51% of the stock is owned by company insiders.

Globe Life Price Performance

GL stock traded down $0.24 during trading hours on Friday, hitting $142.25. 400,575 shares of the stock traded hands, compared to its average volume of 440,235. The stock has a 50-day simple moving average of $134.42 and a 200 day simple moving average of $126.74. Globe Life Inc. has a one year low of $100.27 and a one year high of $144.00. The company has a market cap of $11.52 billion, a P/E ratio of 11.37 and a beta of 0.56. The company has a current ratio of 0.06, a quick 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 data on Wednesday, July 23rd. The company reported $3.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.25 by $0.02. Globe Life had a return on equity of 21.24% and a net margin of 18.11%.The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the business earned $2.97 EPS. The business's revenue for the quarter was up 2.9% on a year-over-year basis. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. Equities analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.08 annualized dividend and a yield of 0.8%. Globe Life's payout ratio is currently 8.63%.

Analysts Set New Price Targets

GL has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of Globe Life from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Wells Fargo & Company raised 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. Truist Financial assumed coverage on Globe Life in a research note on Tuesday, July 15th. They set a "buy" rating and a $150.00 price target for the company. BMO Capital Markets reissued a "market perform" rating and issued a $149.00 target price (up previously from $114.00) on shares of Globe Life in a research note on Wednesday, July 30th. Finally, Morgan Stanley lifted their price target on Globe Life from $166.00 to $171.00 and gave the company an "overweight" rating in a report on Monday, August 18th. 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.