Globe Life Inc. $GL Shares Purchased by Swedbank AB

Key Points

• Swedbank AB increased its stake in Globe Life Inc. by 77.0% during the first quarter, owning approximately 1.01% of the company, with holdings valued at $109.59 million.
• Globe Life recently reported a quarterly EPS of $3.27, outpacing expectations, while forecasted FY 2025 earnings are between $14.250 and $14.650.
• The company declared a quarterly dividend of $0.27 per share, representing a 0.8% yield and scheduled for payment on October 31st.

Swedbank AB raised its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 77.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 832,000 shares of the company's stock after purchasing an additional 362,000 shares during the period. Swedbank AB owned 1.01% of Globe Life worth $109,591,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GL. Nuveen LLC purchased a new position in Globe Life during the 1st quarter valued at about $131,608,000. GAMMA Investing LLC grew its position in shares of Globe Life by 15,553.5% in the 1st 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 during the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Globe Life by 35.9% in the 1st 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 during the last quarter. Two Sigma Advisers LP grew its position in shares of Globe Life by 69.7% in the 4th quarter. Two Sigma Advisers LP now owns 393,800 shares of the company's stock worth $43,917,000 after buying an additional 161,700 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Globe Life by 28.8% in the 1st quarter. AQR Capital Management LLC now owns 706,142 shares of the company's stock worth $91,996,000 after buying an additional 157,773 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company's stock.

Globe Life Stock Performance

GL stock traded up $1.51 during trading on Thursday, reaching $144.31. The company had a trading volume of 162,157 shares, compared to its average volume of 632,363. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.06 and a current ratio of 0.06. Globe Life Inc. has a twelve month low of $100.27 and a twelve month high of $144.45. The firm has a 50-day simple moving average of $135.75 and a 200-day simple moving average of $127.06. The company has a market cap of $11.69 billion, a price-to-earnings ratio of 11.55 and a beta of 0.56.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $3.27 EPS for the quarter, beating the consensus estimate of $3.25 by $0.02. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. 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 previous year, the business posted $2.97 EPS. The business's quarterly revenue 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. As a group, sell-side analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Announces Dividend

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 dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, October 3rd. Globe Life's payout ratio is presently 8.63%.

Insider Buying and Selling at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 12,500 shares of Globe Life stock in a transaction that occurred on 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 in the company, valued at approximately $4,629,770.86. The trade was a 27.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Michael Clay Majors sold 10,000 shares of Globe Life stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $137.41, for a total transaction of $1,374,100.00. Following the sale, the executive vice president owned 47,066 shares of the company's stock, valued at approximately $6,467,339.06. The trade was a 17.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,722 shares of company stock valued at $11,733,793. 1.51% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GL has been the topic of a number of analyst reports. Cfra Research raised shares of Globe Life to a "moderate buy" rating in a research report on Friday, July 25th. 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 report on Monday, August 18th. 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. BMO Capital Markets reaffirmed a "market perform" rating and issued a $149.00 price objective (up previously from $114.00) on shares of Globe Life in a research report on Wednesday, July 30th. Finally, 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 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 assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus 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.