2,384 Shares in Globe Life Inc. $GL Acquired by SCS Capital Management LLC

Key Points

• SCS Capital Management LLC invested $314,000 in Globe Life Inc. by acquiring 2,384 shares during the first quarter, indicating growing institutional interest in the company.
• Analysts have upgraded their ratings and targets for Globe Life, with recent targets ranging from $155.00 to $171.00, reflecting a positive outlook on its performance.
• The company declared a quarterly dividend of $0.27 per share, scheduled for payment on October 31st, with a current annualized yield of 0.8%.

SCS Capital Management LLC purchased a new stake in Globe Life Inc. (NYSE:GL - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,384 shares of the company's stock, valued at approximately $314,000.

Other institutional investors have also recently modified their holdings of the company. Bank of America Corp DE grew its holdings in Globe Life by 10.6% during the 4th 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. increased its position in Globe Life by 27.8% during the 4th quarter. Baird Financial Group Inc. now owns 4,220 shares of the company's stock worth $471,000 after purchasing an additional 919 shares in the last quarter. Gotham Asset Management LLC boosted its holdings in Globe Life by 8.0% in the fourth quarter. Gotham Asset Management LLC now owns 8,997 shares of the company's stock valued at $1,003,000 after acquiring an additional 668 shares during the last quarter. Janus Henderson Group PLC grew its position in Globe Life by 0.4% during the fourth quarter. Janus Henderson Group PLC now owns 44,263 shares of the company's stock valued at $4,934,000 after acquiring an additional 192 shares during the period. Finally, Lazard Asset Management LLC increased its stake in Globe Life by 43.2% during the fourth quarter. Lazard Asset Management LLC now owns 10,999 shares of the company's stock worth $1,226,000 after acquiring an additional 3,317 shares during the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Globe Life Stock Down 0.6%

NYSE:GL traded down $0.80 on Tuesday, reaching $141.64. The stock had a trading volume of 218,747 shares, compared to its average volume of 634,248. 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 company has a 50-day moving average of $134.85 and a 200 day moving average of $126.86. The stock has a market cap of $11.47 billion, a P/E ratio of 11.31 and a beta of 0.56. Globe Life Inc. has a 12-month low of $100.27 and a 12-month high of $144.00.

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

Globe Life Announces Dividend

The company 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. 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 dividend payout ratio (DPR) is 8.63%.

Insider Transactions at Globe Life

In related news, EVP Michael Clay Majors sold 10,000 shares of the company's 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 sale, the executive vice president directly owned 47,066 shares of the company's stock, valued at approximately $6,467,339.06. This represents a 17.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Frank M. Svoboda sold 12,500 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $141.38, for a total transaction of $1,767,250.00. Following the sale, the chief executive officer owned 32,747 shares of the company's stock, valued at approximately $4,629,770.86. The trade was a 27.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 84,722 shares of company stock valued at $11,733,793 in the last three months. Corporate insiders own 1.97% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Globe Life from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Cfra Research raised shares of Globe Life to a "moderate buy" rating in a research report on Friday, July 25th. BMO Capital Markets restated a "market perform" rating and set a $149.00 target price (up previously from $114.00) on shares of Globe Life in a report on Wednesday, July 30th. Morgan Stanley increased 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. Finally, Wells Fargo & Company boosted their price objective on Globe Life from $144.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently 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.