United Services Automobile Association Acquires New Holdings in Globe Life Inc. $GL

Key Points

• United Services Automobile Association has acquired a new stake in Globe Life Inc., purchasing 2,134 shares valued at approximately $277,000.
• Equities analysts have raised their price targets for Globe Life, with Wells Fargo increasing it to $150.00 and JPMorgan to $160.00, reflecting a generally positive outlook on the stock.
• The company recently announced a quarterly dividend of $0.27 per share, representing an annualized dividend yield of 0.8%.

United Services Automobile Association acquired a new stake in shares of Globe Life Inc. (NYSE:GL - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,134 shares of the company's stock, valued at approximately $277,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in shares of Globe Life by 4.1% during the 1st quarter. Principal Financial Group Inc. now owns 101,679 shares of the company's stock valued at $13,393,000 after acquiring an additional 3,960 shares during the last quarter. DAVENPORT & Co LLC acquired a new stake in shares of Globe Life in the first quarter worth $493,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Globe Life in the first quarter worth $893,000. Sequoia Financial Advisors LLC boosted its position in shares of Globe Life by 693.4% in the first quarter. Sequoia Financial Advisors LLC now owns 24,184 shares of the company's stock worth $3,185,000 after buying an additional 21,136 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Globe Life by 8.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,711 shares of the company's stock worth $1,260,000 after buying an additional 723 shares during the period. Institutional investors and hedge funds own 81.61% of the company's stock.

Globe Life Price Performance

GL traded up $1.42 during midday trading on Thursday, reaching $144.22. 103,987 shares of the company's stock were exchanged, compared to its average volume of 632,000. The firm has a market capitalization of $11.68 billion, a price-to-earnings ratio of 11.53 and a beta of 0.56. 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 Inc. has a one year low of $100.27 and a one year high of $144.41. The business has a 50-day simple moving average of $135.75 and a two-hundred day simple moving average of $127.06.

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 company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.50 billion. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. The company's revenue was up 2.9% on a year-over-year basis. 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. As a group, research analysts predict that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, October 3rd. Globe Life's payout ratio is currently 8.63%.

Analysts Set New Price Targets

GL has been the subject of several recent analyst reports. 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 research report on Tuesday, July 8th. Morgan Stanley upped their target price on Globe Life from $166.00 to $171.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Keefe, Bruyette & Woods upped their target price on Globe Life from $145.00 to $155.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Cfra Research raised Globe Life to a "moderate buy" rating in a research report on Friday, July 25th. Finally, Truist Financial began coverage on Globe Life in a research report on Tuesday, July 15th. They issued a "buy" rating and a $150.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $152.45.

Insider Buying and Selling at Globe Life

In related news, 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 value of $1,767,250.00. Following the transaction, the chief executive officer owned 32,747 shares in the company, valued at approximately $4,629,770.86. This represents a 27.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the business's 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 sale, the chief financial officer directly owned 30,665 shares of the company's stock, valued at $4,322,845.05. This represents a 48.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,722 shares of company stock valued at $11,733,793. Corporate insiders own 1.51% of the company's stock.

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.