Globe Life Inc. $GL Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC lowered its position in shares of Globe Life Inc. (NYSE:GL) by 1.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,841 shares of the company’s stock after selling 95 shares during the quarter. GAMMA Investing LLC’s holdings in Globe Life were worth $726,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SouthState Corp acquired a new stake in Globe Life during the first quarter valued at approximately $43,000. Ransom Advisory Ltd bought a new position in shares of Globe Life during the first quarter valued at approximately $50,000. SVB Wealth LLC bought a new position in shares of Globe Life during the first quarter valued at approximately $63,000. Allworth Financial LP grew its holdings in shares of Globe Life by 22.0% during the first quarter. Allworth Financial LP now owns 571 shares of the company’s stock valued at $71,000 after purchasing an additional 103 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Globe Life by 140.2% during the first quarter. Versant Capital Management Inc now owns 586 shares of the company’s stock valued at $77,000 after purchasing an additional 342 shares during the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Globe Life Stock Performance

Shares of GL stock opened at $143.28 on Thursday. Globe Life Inc. has a 12-month low of $100.27 and a 12-month high of $147.83. The firm has a market capitalization of $11.61 billion, a price-to-earnings ratio of 11.45 and a beta of 0.56. The business has a 50 day simple moving average of $138.31 and a 200 day simple moving average of $127.72. 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 (NYSE:GL) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $3.27 earnings per share (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 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 revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.97 EPS. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. On average, equities research analysts anticipate that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Dividend Announcement

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

Analysts Set New Price Targets

GL has been the subject of several recent research reports. JPMorgan Chase & Co. upped their target price on Globe Life from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Morgan Stanley upped their target price on Globe Life from $166.00 to $171.00 and gave the company an “overweight” rating in a report on Monday, August 18th. BMO Capital Markets reaffirmed a “market perform” rating and set a $149.00 target price (up from $114.00) on shares of Globe Life in a report on Wednesday, July 30th. Wells Fargo & Company upped their target price on Globe Life from $144.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Finally, Keefe, Bruyette & Woods increased their price objective on Globe Life from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $152.45.

Insider Transactions at Globe Life

In other Globe Life news, CEO Frank M. Svoboda sold 12,500 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $141.38, for a total transaction of $1,767,250.00. Following the completion of the transaction, the chief executive officer directly owned 32,747 shares of the company’s stock, valued at approximately $4,629,770.86. This trade represents a 27.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $140.97, for a total value of $4,081,363.44. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 84,722 shares of company stock valued at $11,733,793. Company insiders own 1.51% of the company’s stock.

Globe Life 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.