Kovitz Investment Group Partners LLC Has $475,000 Stock Position in Globe Life Inc. $GL

Kovitz Investment Group Partners LLC grew its holdings in shares of Globe Life Inc. (NYSE:GL) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,609 shares of the company’s stock after purchasing an additional 102 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Globe Life were worth $475,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. SouthState Corp acquired a new position in Globe Life during the first quarter worth $43,000. Allworth Financial LP boosted its stake in shares of Globe Life by 22.0% during the 1st quarter. Allworth Financial LP now owns 571 shares of the company’s stock worth $71,000 after acquiring an additional 103 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Globe Life by 140.2% during the 1st 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. Blue Trust Inc. raised its stake in shares of Globe Life by 42.4% in the 1st quarter. Blue Trust Inc. now owns 772 shares of the company’s stock valued at $102,000 after acquiring an additional 230 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. raised its stake in shares of Globe Life by 25.4% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 774 shares of the company’s stock valued at $100,000 after acquiring an additional 157 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GL shares. Wells Fargo & Company upped their target price on Globe Life from $144.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. JPMorgan Chase & Co. upped their price objective on shares of Globe Life from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Truist Financial began coverage on shares of Globe Life in a research note on Tuesday, July 15th. They issued a “buy” rating and a $150.00 target price on the stock. BMO Capital Markets reissued a “market perform” rating and set a $149.00 target price (up previously from $114.00) on shares of Globe Life in a research report on Wednesday, July 30th. Finally, Morgan Stanley raised their price target on Globe Life from $166.00 to $171.00 and gave the company an “overweight” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $152.45.

Insider Transactions at Globe Life

In other news, CFO Thomas Peter Kalmbach sold 28,952 shares of Globe Life stock in a transaction that occurred 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 owned 30,665 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Matthew Darden sold 33,270 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $135.59, for a total value of $4,511,079.30. Following the sale, the chief executive officer owned 49,842 shares in the company, valued at approximately $6,758,076.78. This represents a 40.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,722 shares of company stock worth $11,733,793 over the last 90 days. Insiders own 1.51% of the company’s stock.

Globe Life Price Performance

Shares of Globe Life stock opened at $139.0540 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.06 and a quick ratio of 0.06. The company has a market cap of $11.26 billion, a PE ratio of 11.12 and a beta of 0.56. The firm has a fifty day moving average price of $128.00 and a two-hundred day moving average price of $124.62. Globe Life Inc. has a fifty-two week low of $97.24 and a fifty-two week high of $144.00.

Globe Life (NYSE:GL) last posted its quarterly earnings data 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 company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.50 billion. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.97 EPS. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. Analysts expect 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 issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.08 annualized dividend and a yield of 0.8%. Globe Life’s dividend payout ratio is 8.63%.

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.