Globe Life Inc. $GL Shares Bought 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 stake in shares of Globe Life Inc. (NYSE:GL - Free Report) by 77.0% in the 1st quarter, according to its most recent disclosure 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 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of GL. Baird Financial Group Inc. grew its holdings in Globe Life by 27.8% during the fourth quarter. Baird Financial Group Inc. now owns 4,220 shares of the company's stock valued at $471,000 after purchasing an additional 919 shares during the period. Gotham Asset Management LLC grew its holdings in Globe Life by 8.0% during the fourth quarter. Gotham Asset Management LLC now owns 8,997 shares of the company's stock valued at $1,003,000 after purchasing an additional 668 shares during the period. Janus Henderson Group PLC grew its holdings in Globe Life by 0.4% during the fourth quarter. Janus Henderson Group PLC now owns 44,263 shares of the company's stock valued at $4,934,000 after purchasing an additional 192 shares during the period. Lazard Asset Management LLC grew its holdings in Globe Life by 43.2% during the fourth quarter. Lazard Asset Management LLC now owns 10,999 shares of the company's stock valued at $1,226,000 after purchasing an additional 3,317 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Globe Life by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,784 shares of the company's stock valued at $980,000 after purchasing an additional 385 shares during the period. Institutional investors own 81.61% of the company's stock.

Insider Buying and Selling

In other news, CEO James Matthew Darden sold 33,270 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $135.59, for a total value of $4,511,079.30. Following the completion of the sale, the chief executive officer owned 49,842 shares of the company's stock, valued at $6,758,076.78. This trade represents a 40.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Clay Majors sold 10,000 shares of the firm's stock in a transaction on Friday, August 1st. The stock was 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 $6,467,339.06. The trade was a 17.52% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, 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 1.2%

NYSE:GL traded up $1.72 during midday trading on Wednesday, hitting $142.58. The stock had a trading volume of 454,719 shares, compared to its average volume of 635,037. Globe Life Inc. has a one year low of $100.27 and a one year high of $144.00. The company has a market capitalization of $11.55 billion, a price-to-earnings ratio of 11.40 and a beta of 0.56. The stock has a 50-day moving average of $135.25 and a 200 day moving average of $126.96. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.43.

Globe Life (NYSE:GL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $3.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.25 by $0.02. Globe Life had a return on equity of 21.24% and a net margin of 18.11%.The company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter in the prior year, the firm earned $2.97 earnings per share. Globe Life's 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 forecast that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on GL. Wells Fargo & Company increased their target price on Globe Life from $144.00 to $150.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. BMO Capital Markets restated a "market perform" rating and set a $149.00 price objective (up from $114.00) on shares of Globe Life in a research report on Wednesday, July 30th. Morgan Stanley upped their price objective on Globe Life from $166.00 to $171.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Truist Financial started coverage on Globe Life in a report on Tuesday, July 15th. They issued a "buy" rating and a $150.00 price target on the stock. Finally, Keefe, Bruyette & Woods increased their price target on Globe Life from $145.00 to $155.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Globe Life presently has an average rating of "Moderate Buy" and a consensus target price 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.