Welch Group LLC Lowers Stake in Globe Life Inc. $GL

Welch Group LLC reduced its position in Globe Life Inc. (NYSE:GL) by 0.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,577 shares of the company’s stock after selling 128 shares during the quarter. Welch Group LLC owned approximately 0.06% of Globe Life worth $5,913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. boosted its position in shares of Globe Life by 4.1% in the first quarter. Principal Financial Group Inc. now owns 101,679 shares of the company’s stock worth $13,393,000 after purchasing an additional 3,960 shares during the period. DAVENPORT & Co LLC bought a new position in shares of Globe Life in the first quarter worth approximately $493,000. Atlas Capital Advisors Inc. bought a new position in shares of Globe Life in the first quarter worth approximately $893,000. Sequoia Financial Advisors LLC boosted its position in shares of Globe Life by 693.4% in the first quarter. Sequoia Financial Advisors LLC now owns 24,184 shares of the company’s stock worth $3,185,000 after purchasing an additional 21,136 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Globe Life by 8.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,711 shares of the company’s stock worth $1,260,000 after purchasing an additional 723 shares during the period. 81.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GL shares. JPMorgan Chase & Co. upped their price target on shares of Globe Life from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Cfra Research raised shares of Globe Life to a “moderate buy” rating in a report on Friday, July 25th. Truist Financial initiated coverage on shares of Globe Life in a report on Tuesday, July 15th. They set a “buy” rating and a $150.00 price objective for the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $149.00 price objective (up from $114.00) on shares of Globe Life in a report on Wednesday, July 30th. Finally, Wells Fargo & Company increased their price objective on shares of Globe Life from $150.00 to $172.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. One research 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 stock. Based on data from MarketBeat, Globe Life currently has a consensus rating of “Moderate Buy” and an average target price of $155.70.

Insider Buying and Selling at Globe Life

In related news, CEO Frank M. Svoboda sold 12,500 shares of the firm’s stock in a transaction on 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 directly owned 32,747 shares in the company, valued at $4,629,770.86. This trade represents a 27.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Clay Majors sold 10,000 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $137.41, for a total value of $1,374,100.00. Following the completion of the sale, the executive vice president 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 ninety days, insiders sold 84,722 shares of company stock valued at $11,733,793. 1.97% of the stock is owned by company insiders.

Globe Life Trading Down 0.5%

GL stock opened at $135.71 on Monday. The firm has a fifty day moving average price of $140.22 and a 200 day moving average price of $128.76. Globe Life Inc. has a fifty-two week low of $100.27 and a fifty-two week high of $147.83. 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 firm has a market cap of $10.99 billion, a PE ratio of 10.85 and a beta of 0.55.

Globe Life (NYSE:GL) last posted its earnings results 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 firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the firm posted $2.97 earnings per share. Globe Life’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. 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. 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 dividend on an annualized basis and a dividend yield of 0.8%. Globe Life’s dividend payout ratio (DPR) is 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.