Teza Capital Management LLC Makes New Investment in Globe Life Inc. $GL

Key Points

• Teza Capital Management LLC acquired 2,035 shares of Globe Life Inc. in the first quarter, valued at approximately $268,000, according to a recent Form 13F filing.
• Company insiders, including CEO Frank M. Svoboda, sold a total of 84,722 shares of Globe Life stock valued at $11,733,793 over the past three months.
• Globe Life announced a quarterly dividend of $0.27, which will be paid on October 31, reflecting a 0.8% dividend yield with a payout ratio of 8.63%.

Teza Capital Management LLC purchased a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,035 shares of the company's stock, valued at approximately $268,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of GL. SouthState Corp bought a new position in Globe Life in the 1st quarter worth $43,000. SVB Wealth LLC bought a new position in Globe Life in the 1st quarter worth $63,000. Allworth Financial LP raised its holdings in Globe Life by 22.0% in the 1st quarter. Allworth Financial LP now owns 571 shares of the company's stock worth $71,000 after purchasing an additional 103 shares during the period. Versant Capital Management Inc raised its holdings in Globe Life by 140.2% in the 1st quarter. Versant Capital Management Inc now owns 586 shares of the company's stock worth $77,000 after purchasing an additional 342 shares during the period. Finally, Brooklyn Investment Group raised its holdings in Globe Life by 792.7% in the 1st quarter. Brooklyn Investment Group now owns 732 shares of the company's stock worth $96,000 after purchasing an additional 650 shares during the period. 81.61% of the stock is owned by institutional investors.

Globe Life Price Performance

Shares of Globe Life stock traded down $0.24 during trading on Friday, reaching $142.25. 400,575 shares of the stock traded hands, compared to its average volume of 427,292. The company has a market capitalization of $11.52 billion, a price-to-earnings ratio of 11.37 and a beta of 0.56. The business has a fifty day simple moving average of $134.42 and a two-hundred day simple moving average of $126.76. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.06 and a quick ratio of 0.06. Globe Life Inc. has a 52-week low of $100.27 and a 52-week high of $144.00.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $3.27 earnings per share for the quarter, beating analysts' consensus estimates of $3.25 by $0.02. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.50 billion. Globe Life had a return on equity of 21.24% and a net margin of 18.11%.The business's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.97 earnings per share. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. Sell-side analysts expect that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be issued a $0.27 dividend. The ex-dividend date of this dividend 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 presently 8.63%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Cfra Research raised Globe Life to a "moderate buy" rating in a report on Friday, July 25th. JPMorgan Chase & Co. raised their target price on Globe Life from $145.00 to $160.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Wells Fargo & Company raised their target price on Globe Life from $144.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. BMO Capital Markets reiterated a "market perform" rating and issued a $149.00 price target (up previously from $114.00) on shares of Globe Life in a research note on Wednesday, July 30th. Finally, Truist Financial assumed coverage on Globe Life in a research note on Tuesday, July 15th. They issued a "buy" rating and a $150.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Globe Life currently has a consensus rating of "Moderate Buy" and an average price target of $152.45.

Insider Buying and Selling at Globe Life

In related news, CEO James Matthew Darden sold 33,270 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $135.59, for a total value of $4,511,079.30. Following the completion of the transaction, the chief executive officer owned 49,842 shares of the company's stock, valued at approximately $6,758,076.78. This trade represents a 40.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $140.97, for a total transaction of $4,081,363.44. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 84,722 shares of company stock worth $11,733,793 in the last 90 days. 1.97% of the stock is currently owned by insiders.

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.