State of Wyoming Sells 2,486 Shares of Globe Life Inc. $GL

Key Points

• The State of Wyoming reduced its holdings in Globe Life Inc. by 34.5%, owning 4,727 shares worth approximately $623,000 after selling 2,486 shares during the first quarter.
• Globe Life's recent quarterly earnings reported $3.27 EPS, exceeding the consensus estimate, while its quarterly revenue reached $1.48 billion, a 2.9% increase year-over-year.
• The company declared a quarterly dividend of $0.27 per share to be paid on October 31st, representing an annualized dividend yield of 0.8%.

State of Wyoming trimmed its holdings in Globe Life Inc. (NYSE:GL - Free Report) by 34.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,727 shares of the company's stock after selling 2,486 shares during the quarter. State of Wyoming's holdings in Globe Life were worth $623,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in GL. Kovitz Investment Group Partners LLC bought a new position in shares of Globe Life in the fourth quarter valued at about $391,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Globe Life in the fourth quarter valued at about $1,194,000. The Manufacturers Life Insurance Company raised its holdings in shares of Globe Life by 1.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 70,666 shares of the company's stock valued at $7,881,000 after buying an additional 1,019 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Globe Life by 3.3% in the fourth quarter. Northern Trust Corp now owns 817,489 shares of the company's stock valued at $91,166,000 after buying an additional 26,398 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its holdings in shares of Globe Life by 62.0% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 10,761 shares of the company's stock valued at $1,200,000 after buying an additional 4,118 shares during the last quarter. 81.61% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Michael Clay Majors sold 10,000 shares of the 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 completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $140.97, for a total value of $4,081,363.44. Following the sale, the chief financial officer directly owned 30,665 shares of the company's stock, valued at approximately $4,322,845.05. The trade was a 48.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 84,722 shares of company stock valued at $11,733,793 in the last quarter. 1.97% of the stock is owned by company insiders.

Globe Life Trading Down 0.1%

Shares of GL stock traded down $0.12 on Tuesday, reaching $139.83. The company had a trading volume of 511,704 shares, compared to its average volume of 648,164. The company has a 50-day moving average of $131.18 and a 200-day moving average of $125.66. Globe Life Inc. has a 12 month low of $99.04 and a 12 month high of $144.00. 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 stock has a market cap of $11.33 billion, a PE ratio of 11.18 and a beta of 0.56.

Globe Life (NYSE:GL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share (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 business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same period in the prior year, the business earned $2.97 EPS. Globe Life's revenue for the quarter was up 2.9% compared to the same quarter last year. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. On average, equities analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Cfra Research raised Globe Life to a "moderate buy" rating in a report on Friday, July 25th. Truist Financial started coverage on Globe Life in a report on Tuesday, July 15th. They set a "buy" rating and a $150.00 price objective for the company. BMO Capital Markets reissued a "market perform" rating and set a $149.00 price objective (up from $114.00) on shares of Globe Life in a report on Wednesday, July 30th. Keefe, Bruyette & Woods boosted their price objective on Globe Life from $145.00 to $155.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. 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 report on Friday, July 25th. One 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 an average rating of "Moderate Buy" and an average price target 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.