Pensionfund Sabic Trims Stock Position in Globe Life Inc. $GL

Pensionfund Sabic cut its stake in Globe Life Inc. (NYSE:GL) by 34.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,700 shares of the company’s stock after selling 4,100 shares during the period. Pensionfund Sabic’s holdings in Globe Life were worth $1,014,000 as of its most recent SEC filing.

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

Globe Life Trading Down 0.2%

NYSE GL opened at $142.25 on Friday. The stock has a market capitalization of $11.52 billion, a P/E ratio of 11.37 and a beta of 0.56. Globe Life Inc. has a 52-week low of $100.27 and a 52-week high of $144.00. The firm has a 50-day moving average price of $134.42 and a 200 day moving average price of $126.74. 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) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.25 by $0.02. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.97 earnings per share. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. Equities research analysts expect that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Announces Dividend

The company 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 dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, October 3rd. Globe Life’s dividend payout ratio is currently 8.63%.

Insider Activity

In related news, CEO James Matthew Darden sold 33,270 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $135.59, for a total transaction of $4,511,079.30. Following the completion of the transaction, the chief executive officer directly owned 49,842 shares of the company’s stock, valued at $6,758,076.78. This represents a 40.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Michael Clay Majors sold 10,000 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $137.41, for a total transaction of $1,374,100.00. Following the transaction, the executive vice president owned 47,066 shares in the company, valued at $6,467,339.06. The trade was a 17.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,722 shares of company stock valued at $11,733,793. Company insiders own 1.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GL shares. Keefe, Bruyette & Woods boosted their price target on shares of Globe Life from $145.00 to $155.00 and gave the company an “outperform” rating in a research 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 report on Wednesday, July 30th. JPMorgan Chase & Co. upped their target price on shares of Globe Life from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Truist Financial assumed coverage on shares of Globe Life in a report on Tuesday, July 15th. They issued a “buy” rating and a $150.00 target price for the company. Finally, Wells Fargo & Company upped their target price on shares of Globe Life from $144.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Globe Life currently has an average rating of “Moderate Buy” and a consensus price target of $152.45.

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.