Sequoia Financial Advisors LLC Raises Position in Globe Life Inc. $GL

Sequoia Financial Advisors LLC raised its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 13.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,488 shares of the company's stock after buying an additional 3,304 shares during the period. Sequoia Financial Advisors LLC's holdings in Globe Life were worth $3,416,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GL. GAMMA Investing LLC lifted its position in shares of Globe Life by 18.8% during the 1st quarter. GAMMA Investing LLC now owns 5,936 shares of the company's stock worth $782,000 after purchasing an additional 941 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Globe Life by 8.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 22,799 shares of the company's stock worth $3,003,000 after purchasing an additional 1,861 shares during the last quarter. Sagespring Wealth Partners LLC purchased a new stake in shares of Globe Life during the 1st quarter worth $240,000. CWA Asset Management Group LLC purchased a new stake in shares of Globe Life during the 1st quarter worth $4,342,000. Finally, State of Alaska Department of Revenue lifted its position in shares of Globe Life by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 9,834 shares of the company's stock worth $1,295,000 after purchasing an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company's stock.

Insider Activity

In other news, CEO James Matthew Darden sold 33,270 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer directly owned 49,842 shares in the company, valued at $6,758,076.78. The trade was a 40.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer owned 30,665 shares in the company, valued at approximately $4,322,845.05. This trade represents a 48.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,722 shares of company stock valued at $11,733,793. 1.97% of the stock is owned by insiders.

Globe Life Trading Up 2.5%

NYSE GL opened at $139.81 on Wednesday. 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 firm has a market cap of $11.32 billion, a PE ratio of 11.18 and a beta of 0.55. Globe Life Inc. has a one year low of $100.27 and a one year high of $147.83. The firm's fifty day moving average is $140.17 and its two-hundred day moving average is $128.89.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $3.27 EPS for the quarter, beating analysts' consensus estimates of $3.25 by $0.02. The company 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%. Globe Life's quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.97 earnings per share. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. Analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on GL shares. JPMorgan Chase & Co. lifted their price objective 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. Morgan Stanley set a $179.00 price target on shares of Globe Life and gave the company an "overweight" rating in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods boosted their price target on shares of Globe Life from $145.00 to $155.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. BMO Capital Markets reissued a "market perform" rating and issued a $149.00 price target (up from $114.00) on shares of Globe Life in a research report on Wednesday, July 30th. Finally, Cfra Research raised shares of Globe Life to a "moderate buy" rating in a research report on Friday, July 25th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $152.11.

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.

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