16,128 Shares in Globe Life Inc. $GL Acquired by Strs Ohio

Key Points

• Strs Ohio has acquired a new stake in Globe Life Inc., purchasing 16,128 shares valued at approximately $2.12 million during the first quarter of the year.
• Globe Life's recent quarterly earnings showed an earnings per share (EPS) of $3.27, slightly exceeding the consensus estimate, while the company announced a quarterly dividend of $0.27 per share, reflecting a modest yield of 0.8%.
• Analysts have issued positive ratings on Globe Life's stock, with price target increases and an average rating of "Moderate Buy," suggesting investor confidence in the company's future performance.

Strs Ohio acquired a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 16,128 shares of the company's stock, valued at approximately $2,124,000.

A number of other hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP grew its position in shares of Globe Life by 9.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,741,131 shares of the company's stock worth $229,323,000 after buying an additional 148,397 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Globe Life by 35.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,025,984 shares of the company's stock worth $135,143,000 after buying an additional 271,253 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Globe Life during the first quarter worth approximately $131,608,000. GAMMA Investing LLC grew its position in shares of Globe Life by 15,553.5% during the first quarter. GAMMA Investing LLC now owns 781,890 shares of the company's stock worth $102,991,000 after buying an additional 776,895 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Globe Life by 0.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 781,409 shares of the company's stock worth $102,927,000 after buying an additional 3,312 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company's stock.

Globe Life Price Performance

GL stock traded up $1.74 during trading on Friday, hitting $145.37. The company had a trading volume of 1,416,161 shares, compared to its average volume of 437,438. The firm has a market capitalization of $11.77 billion, a price-to-earnings ratio of 11.62 and a beta of 0.56. The business has a 50 day moving average of $136.78 and a 200 day moving average of $127.32. Globe Life Inc. has a fifty-two week low of $100.27 and a fifty-two week high of $146.18. 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 (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, topping the consensus estimate of $3.25 by $0.02. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. The company's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.97 earnings per share. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. As a group, research analysts predict that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, October 3rd. Globe Life's dividend payout ratio is presently 8.63%.

Insider Buying and Selling at Globe Life

In other Globe Life news, EVP Michael Clay Majors sold 10,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were 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 of the company's stock, valued at approximately $6,467,339.06. This represents a 17.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frank M. Svoboda sold 12,500 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 32,747 shares of the company's stock, valued at $4,629,770.86. The trade was a 27.63% 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 over the last 90 days. Insiders own 1.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GL shares. Cfra Research raised shares of Globe Life to a "moderate buy" rating in a research report on Friday, July 25th. BMO Capital Markets reiterated a "market perform" rating and set a $149.00 target price (up previously from $114.00) on shares of Globe Life in a research note on Wednesday, July 30th. JPMorgan Chase & Co. boosted their target price on shares of Globe Life from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Morgan Stanley boosted their target price on shares of Globe Life from $166.00 to $171.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Finally, Wells Fargo & Company boosted their target price on shares of Globe Life from $144.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $152.45.

Globe Life Company 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.