Sagespring Wealth Partners LLC Boosts Stock Position in Globe Life Inc. $GL

Sagespring Wealth Partners LLC grew its stake in shares of Globe Life Inc. (NYSE:GL) by 6.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,942 shares of the company’s stock after buying an additional 117 shares during the period. Sagespring Wealth Partners LLC’s holdings in Globe Life were worth $241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in GL. Nuveen LLC purchased a new stake in shares of Globe Life in the first quarter worth $131,608,000. Leith Wheeler Investment Counsel Ltd. raised its position in shares of Globe Life by 615.9% in the second quarter. Leith Wheeler Investment Counsel Ltd. now owns 656,807 shares of the company’s stock worth $81,635,000 after buying an additional 565,061 shares in the last quarter. Swedbank AB raised its position in shares of Globe Life by 77.0% in the first quarter. Swedbank AB now owns 832,000 shares of the company’s stock worth $109,591,000 after buying an additional 362,000 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Globe Life by 35.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,025,984 shares of the company’s stock worth $135,143,000 after buying an additional 271,253 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its stake in Globe Life by 1,270.8% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 233,030 shares of the company’s stock valued at $28,963,000 after acquiring an additional 216,030 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Globe Life Stock Up 0.9%

Shares of NYSE:GL opened at $134.78 on Friday. The stock’s 50-day moving average price is $139.85 and its 200-day moving average price is $128.95. Globe Life Inc. has a 12-month low of $100.27 and a 12-month high of $147.83. The stock has a market capitalization of $10.92 billion, a P/E ratio of 10.77 and a beta of 0.55. 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 (NYSE:GL) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $3.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.25 by $0.02. Globe Life had a return on equity of 21.24% and a net margin of 18.11%.The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the firm earned $2.97 earnings per share. The company’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. On average, equities analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders 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 dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, October 3rd. Globe Life’s dividend payout ratio (DPR) is 8.63%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. BMO Capital Markets reissued a “market perform” rating and issued a $149.00 target price (up previously from $114.00) on shares of Globe Life in a research note on Wednesday, July 30th. JPMorgan Chase & Co. increased their target price on Globe Life from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Morgan Stanley set a $179.00 target price on Globe Life and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Truist Financial assumed coverage on Globe Life in a research note on Tuesday, July 15th. They issued a “buy” rating and a $150.00 target price on the stock. Finally, Keefe, Bruyette & Woods increased their target price on Globe Life from $145.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Globe Life presently has an average rating of “Moderate Buy” and a consensus target price of $152.11.

Insider Activity

In related news, CFO Thomas Peter Kalmbach sold 28,952 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $140.97, for a total value of $4,081,363.44. Following the sale, the chief financial officer directly owned 30,665 shares of the company’s stock, valued at $4,322,845.05. This trade represents a 48.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Frank M. Svoboda sold 12,500 shares of the firm’s stock in a transaction dated 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. The trade was a 27.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have 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.