SCS Capital Management LLC Buys Shares of 2,384 Globe Life Inc. $GL

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 position in Globe Life Inc. (NYSE:GL - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,384 shares of the company's stock, valued at approximately $314,000.

A number of other large investors have also bought and sold shares of the stock. Woodline Partners LP increased its stake in Globe Life by 220.3% in the 1st quarter. Woodline Partners LP now owns 161,868 shares of the company's stock worth $21,321,000 after purchasing an additional 111,327 shares during the period. Empowered Funds LLC purchased a new position in Globe Life in the 1st quarter worth approximately $428,000. MBB Public Markets I LLC purchased a new position in Globe Life in the 1st quarter worth approximately $327,000. United Services Automobile Association purchased a new position in Globe Life in the 1st quarter worth approximately $277,000. Finally, Goldman Sachs Group Inc. increased its stake in Globe Life by 11.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 563,021 shares of the company's stock worth $74,161,000 after purchasing an additional 58,163 shares during the period. 81.61% of the stock is owned by hedge funds and other institutional investors.

Globe Life Stock Up 0.5%

Shares of NYSE GL traded up $0.73 during trading on Wednesday, reaching $141.59. The company had a trading volume of 67,908 shares, compared to its average volume of 632,759. Globe Life Inc. has a 12-month low of $100.27 and a 12-month high of $144.00. The stock has a market cap of $11.47 billion, a PE ratio of 11.32 and a beta of 0.56. The business's 50-day moving average is $135.25 and its 200 day moving average is $126.96. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.43.

Globe Life (NYSE:GL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $3.27 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.50 billion. During the same period in the prior year, the firm posted $2.97 earnings per share. The company's quarterly revenue was up 2.9% on a year-over-year basis. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. As a group, equities analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders 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 dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, October 3rd. Globe Life's dividend payout ratio is currently 8.63%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GL. BMO Capital Markets reissued a "market perform" rating and set a $149.00 target price (up from $114.00) on shares of Globe Life in a research note on Wednesday, July 30th. Morgan Stanley raised their price target on Globe Life from $166.00 to $171.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. JPMorgan Chase & Co. raised their price target on Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Wells Fargo & Company raised their price target on Globe Life from $144.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Finally, Truist Financial started coverage on Globe Life in a research note on Tuesday, July 15th. They issued a "buy" rating and a $150.00 price target for the company. One research 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, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $152.45.

Insider Buying and Selling

In other news, CEO James Matthew Darden sold 33,270 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $135.59, for a total value of $4,511,079.30. Following the sale, the chief executive officer directly owned 49,842 shares of the company's stock, valued at approximately $6,758,076.78. This represents a 40.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael Clay Majors sold 10,000 shares of the 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 84,722 shares of company stock valued at $11,733,793. Insiders own 1.97% of the company's stock.

About Globe Life

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.