RFG Advisory LLC Trims Stake in Globe Life Inc. $GL

RFG Advisory LLC decreased its position in shares of Globe Life Inc. (NYSE:GL) by 13.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,881 shares of the company’s stock after selling 466 shares during the period. RFG Advisory LLC’s holdings in Globe Life were worth $358,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GL. Global Assets Advisory LLC purchased a new position in shares of Globe Life during the 2nd quarter worth approximately $25,000. AdvisorNet Financial Inc grew its holdings in shares of Globe Life by 60.0% during the 2nd quarter. AdvisorNet Financial Inc now owns 224 shares of the company’s stock worth $28,000 after acquiring an additional 84 shares during the period. TD Private Client Wealth LLC purchased a new position in shares of Globe Life during the 2nd quarter worth approximately $39,000. SouthState Corp purchased a new position in shares of Globe Life during the 1st quarter worth approximately $43,000. Finally, Ransom Advisory Ltd purchased a new position in shares of Globe Life during the 1st quarter worth approximately $50,000. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. upped 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. Wells Fargo & Company upped their price target on Globe Life from $150.00 to $172.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods upped their price target on Globe Life from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. Morgan Stanley set a $179.00 price target on Globe Life and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $149.00 price target (up previously from $114.00) on shares of Globe Life in a research note on Wednesday, July 30th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Globe Life presently has an average rating of “Moderate Buy” and a consensus price target of $152.11.

Globe Life Stock Performance

Shares of GL opened at $134.78 on Friday. The business’s fifty day simple moving average is $139.85 and its two-hundred day simple moving average is $128.95. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.43. Globe Life Inc. has a 12 month low of $100.27 and a 12 month high of $147.83. The company has a market cap of $10.92 billion, a price-to-earnings ratio of 10.77 and a beta of 0.55.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, July 23rd. The company reported $3.27 EPS for the quarter, beating the consensus estimate of $3.25 by $0.02. Globe Life had a return on equity of 21.24% and a net margin of 18.11%.The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the business posted $2.97 EPS. The company’s revenue 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. Research analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current fiscal year.

Globe Life Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, October 3rd. Globe Life’s dividend payout ratio (DPR) is currently 8.63%.

Insiders Place Their Bets

In other Globe Life news, CFO Thomas Peter Kalmbach sold 28,952 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $140.97, for a total transaction of $4,081,363.44. Following the sale, the chief financial officer directly owned 30,665 shares in the company, valued at approximately $4,322,845.05. This trade represents a 48.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Frank M. Svoboda sold 12,500 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $141.38, for a total value of $1,767,250.00. Following the sale, the chief executive officer owned 32,747 shares in the company, valued at approximately $4,629,770.86. This represents a 27.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,722 shares of company stock valued at $11,733,793. 1.51% of the stock is currently 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.