Sei Investments Co. Acquires 1,925 Shares of Globe Life Inc. $GL

Key Points

• Sei Investments Co. increased its holdings in Globe Life Inc. by 9.1% in Q1, now owning 23,173 shares valued at approximately $2.9 million.
• Insider transactions included CEO Frank M. Svoboda selling 12,500 shares for about $1.77 million, significantly reducing his ownership by 27.63%.
• Globe Life announced a quarterly dividend of $0.27 per share, with the dividend yield currently at 0.8%, payable on October 31st.

Sei Investments Co. raised its position in Globe Life Inc. (NYSE:GL - Free Report) by 9.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,173 shares of the company's stock after acquiring an additional 1,925 shares during the quarter. Sei Investments Co.'s holdings in Globe Life were worth $2,896,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in GL. Barclays PLC lifted its stake in Globe Life by 16.1% in the fourth quarter. Barclays PLC now owns 287,993 shares of the company's stock valued at $32,116,000 after acquiring an additional 39,846 shares during the last quarter. Mariner LLC raised its position in shares of Globe Life by 9.5% in the fourth quarter. Mariner LLC now owns 31,355 shares of the company's stock valued at $3,497,000 after purchasing an additional 2,733 shares during the period. United Capital Financial Advisors LLC raised its position in shares of Globe Life by 4.8% in the fourth quarter. United Capital Financial Advisors LLC now owns 4,044 shares of the company's stock valued at $451,000 after purchasing an additional 186 shares during the period. Marshall Wace LLP raised its position in shares of Globe Life by 1,702.5% in the fourth quarter. Marshall Wace LLP now owns 484,692 shares of the company's stock valued at $54,053,000 after purchasing an additional 457,802 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in shares of Globe Life by 23.1% in the fourth quarter. Canada Pension Plan Investment Board now owns 138,600 shares of the company's stock valued at $15,457,000 after purchasing an additional 26,000 shares during the period. Institutional investors and hedge funds own 81.61% of the company's stock.

Globe Life Price Performance

GL stock traded up $0.8040 during mid-day trading on Tuesday, hitting $136.7940. The stock had a trading volume of 485,632 shares, compared to its average volume of 658,075. 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 Inc. has a 52 week low of $97.13 and a 52 week high of $144.00. The firm has a market capitalization of $11.08 billion, a P/E ratio of 10.93 and a beta of 0.56. The firm has a fifty day simple moving average of $127.28 and a 200 day simple moving average of $124.44.

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, beating the consensus estimate of $3.25 by $0.02. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm earned $2.97 EPS. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. As a group, research analysts forecast that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Dividend Announcement

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

Insider Transactions at Globe Life

In other news, EVP Michael Clay Majors sold 10,000 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $6,467,339.06. The trade was a 17.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James Matthew Darden sold 33,270 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $135.59, for a total value of $4,511,079.30. Following the completion of the transaction, the chief executive officer directly owned 49,842 shares of the company's stock, valued at $6,758,076.78. This represents a 40.03% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,722 shares of company stock worth $11,733,793. 1.97% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on GL. Wall Street Zen raised shares of Globe Life from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. increased their price objective on shares of Globe Life from $145.00 to $160.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Wells Fargo & Company lifted their price objective on shares of Globe Life from $144.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Piper Sandler dropped their price objective on shares of Globe Life from $152.00 to $147.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Finally, Morgan Stanley lifted their price objective on shares of Globe Life from $166.00 to $171.00 and gave the stock an "overweight" rating in a research note on Monday. One equities 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $152.45.

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.