Woodline Partners LP Increases Holdings in Globe Life Inc. $GL

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 grew its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 220.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Empowered Funds LLC bought a new position in shares of Globe Life in the 1st quarter worth $428,000. MBB Public Markets I LLC bought a new position in shares of Globe Life in the 1st quarter worth $327,000. United Services Automobile Association bought a new position in shares of Globe Life in the 1st quarter worth $277,000. Goldman Sachs Group Inc. lifted its holdings in shares of Globe Life by 11.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 563,021 shares of the company's stock worth $74,161,000 after purchasing an additional 58,163 shares in the last quarter. Finally, Knightsbridge Asset Management LLC bought a new position in shares of Globe Life in the 1st quarter worth $263,000. 81.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 transaction of $4,511,079.30. Following the completion of the sale, the chief executive officer directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Clay Majors sold 10,000 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $137.41, for a total value of $1,374,100.00. Following the sale, the executive vice president directly owned 47,066 shares of the company's stock, valued at approximately $6,467,339.06. This represents a 17.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,722 shares of company stock valued at $11,733,793. 1.97% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on GL. Cfra Research upgraded Globe Life to a "moderate buy" rating in a report on Friday, July 25th. JPMorgan Chase & Co. increased 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. Morgan Stanley increased their target price on Globe Life from $166.00 to $171.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. BMO Capital Markets reiterated a "market perform" rating and issued a $149.00 target price (up from $114.00) on shares of Globe Life in a report on Wednesday, July 30th. Finally, Truist Financial began coverage on Globe Life in a report on Tuesday, July 15th. They issued a "buy" rating and a $150.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $152.45.

Globe Life Stock Down 1.0%

NYSE GL traded down $1.41 on Tuesday, reaching $141.02. The company had a trading volume of 107,488 shares, compared to its average volume of 633,616. The stock has a market capitalization of $11.42 billion, a P/E ratio of 11.27 and a beta of 0.56. The company's fifty day moving average is $134.85 and its 200 day moving average is $126.86. Globe Life Inc. has a 52-week low of $100.27 and a 52-week high of $144.00. 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 released its quarterly earnings results on Wednesday, July 23rd. The company reported $3.27 EPS for the quarter, beating analysts' consensus estimates of $3.25 by $0.02. The business 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%.Globe Life's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.97 EPS. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. Sell-side analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 3rd will be given a dividend of $0.27 per share. 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 currently 8.63%.

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.