Globe Life Inc. $GL Shares Purchased by Woodline Partners LP

Key Points

• Woodline Partners LP significantly increased its stake in Globe Life Inc. by 220.3%, owning 161,868 shares worth approximately $21.32 million.
• In the most recent quarter, Globe Life reported earnings of $3.27 per share, slightly exceeding analysts' estimates, with a quarterly revenue of $1.48 billion.
• The company has announced a quarterly dividend of $0.27 per share to be paid on October 31st, representing an annualized dividend yield of 0.8%.

Woodline Partners LP lifted its stake in Globe Life Inc. (NYSE:GL - Free Report) by 220.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 161,868 shares of the company's stock after buying an additional 111,327 shares during the period. Woodline Partners LP owned approximately 0.20% of Globe Life worth $21,321,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in Globe Life by 9.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,741,131 shares of the company's stock worth $229,323,000 after acquiring an additional 148,397 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Globe Life by 35.9% in 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 during the period. Nuveen LLC acquired a new stake in Globe Life during the 1st quarter valued at $131,608,000. GAMMA Investing LLC grew its holdings in Globe Life by 15,553.5% during the 1st quarter. GAMMA Investing LLC now owns 781,890 shares of the company's stock valued at $102,991,000 after purchasing an additional 776,895 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Globe Life by 0.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 781,409 shares of the company's stock worth $102,927,000 after buying an additional 3,312 shares during the period. Institutional investors and hedge funds own 81.61% of the company's stock.

Globe Life Stock Performance

Shares of Globe Life stock traded down $0.24 during trading hours on Friday, reaching $142.25. The company's stock had a trading volume of 400,575 shares, compared to its average volume of 440,235. Globe Life Inc. has a one year low of $100.27 and a one year high of $144.00. The company's 50 day simple moving average is $134.42 and its 200 day simple moving average is $126.74. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.06 and a current ratio of 0.06. The stock has a market cap of $11.52 billion, a P/E ratio of 11.37 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 earnings per share for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $1.50 billion. During the same quarter in the prior year, the firm earned $2.97 EPS. The company's revenue for the quarter 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, analysts expect that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Announces Dividend

The business 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 annualized dividend and a dividend yield of 0.8%. Globe Life's dividend payout ratio (DPR) is 8.63%.

Wall Street Analyst Weigh In

GL has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of Globe Life from $144.00 to $150.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods increased their price target on Globe Life from $145.00 to $155.00 and gave the company an "outperform" rating in a report on Monday, July 28th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $149.00 target price (up from $114.00) on shares of Globe Life in a research report on Wednesday, July 30th. JPMorgan Chase & Co. increased their target price on Globe Life from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Finally, Truist Financial began coverage on shares of 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 investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Globe Life presently has an average rating of "Moderate Buy" and a consensus target price of $152.45.

Insider Buying and Selling

In other news, EVP Michael Clay Majors sold 10,000 shares of the business's stock in a transaction 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 completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO James Matthew Darden sold 33,270 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $135.59, for a total transaction of $4,511,079.30. Following the completion of the sale, the chief executive officer directly owned 49,842 shares in the company, valued at approximately $6,758,076.78. This trade represents a 40.03% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,722 shares of company stock worth $11,733,793. 1.51% of the stock is owned by company 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.