USA Financial Formulas Sells 1,945 Shares of Globe Life Inc. $GL

Key Points

• USA Financial Formulas has reduced its stake in Globe Life Inc. by 21.8% after selling 1,945 shares, leaving it with 6,989 shares valued at $869,000.
• Globe Life recently declared a quarterly dividend of $0.27, which will be paid on October 31st, representing an annualized yield of 0.8%.
• In the latest earnings report, Globe Life reported an EPS of $3.27, exceeding analyst expectations, and a quarterly revenue increase of 2.9% year-over-year.

USA Financial Formulas trimmed its stake in Globe Life Inc. (NYSE:GL - Free Report) by 21.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,989 shares of the company's stock after selling 1,945 shares during the quarter. USA Financial Formulas' holdings in Globe Life were worth $869,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GL. Nuveen LLC bought a new position in shares of Globe Life during the first quarter valued at $131,608,000. Swedbank AB lifted its holdings in shares of Globe Life by 77.0% during the first quarter. Swedbank AB now owns 832,000 shares of the company's stock valued at $109,591,000 after purchasing an additional 362,000 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings 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 valued at $135,143,000 after purchasing an additional 271,253 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Globe Life by 1,270.8% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 233,030 shares of the company's stock valued at $28,963,000 after purchasing an additional 216,030 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Globe Life by 28.8% during the first quarter. AQR Capital Management LLC now owns 706,142 shares of the company's stock valued at $91,996,000 after purchasing an additional 157,773 shares in the last quarter. 81.61% of the stock is owned by institutional investors.

Globe Life Stock Performance

Shares of GL opened at $141.13 on Thursday. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $140.37 and a two-hundred day simple moving average of $128.40. The stock has a market cap of $11.43 billion, a price-to-earnings ratio of 11.28 and a beta of 0.55. Globe Life Inc. has a 52 week low of $100.27 and a 52 week high of $147.83.

Globe Life (NYSE:GL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $3.27 EPS for the quarter, topping analysts' consensus estimates of $3.25 by $0.02. The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.97 earnings per share. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. On average, analysts expect that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Dividend Announcement

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

Insider Buying and Selling

In other Globe Life news, CEO Frank M. Svoboda sold 12,500 shares of the company's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $141.38, for a total value of $1,767,250.00. Following the completion of the sale, the chief executive officer owned 32,747 shares in the company, valued at $4,629,770.86. This represents a 27.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $140.97, for a total value of $4,081,363.44. Following the sale, the chief financial officer 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. In the last three months, insiders have sold 84,722 shares of company stock worth $11,733,793. Corporate insiders own 1.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GL shares. Morgan Stanley upped their price target on Globe Life from $166.00 to $171.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Wells Fargo & Company upped their price objective on Globe Life from $144.00 to $150.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. upped their price objective on Globe Life from $145.00 to $160.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods upped their price objective on Globe Life from $145.00 to $155.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Finally, Cfra Research upgraded Globe Life to a "moderate buy" rating in a research report on Friday, July 25th. One 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 company's stock. According to data from MarketBeat.com, the stock has an average 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.

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