Raymond James Financial Inc. Trims Stock Holdings in Globe Life Inc. $GL

Raymond James Financial Inc. trimmed its holdings in Globe Life Inc. (NYSE:GL) by 1.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 541,547 shares of the company’s stock after selling 7,574 shares during the period. Raymond James Financial Inc.’s holdings in Globe Life were worth $71,332,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Amalgamated Bank boosted its holdings in Globe Life by 0.5% in the 1st quarter. Amalgamated Bank now owns 16,348 shares of the company’s stock valued at $2,153,000 after purchasing an additional 85 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its holdings in Globe Life by 4.0% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 2,293 shares of the company’s stock valued at $256,000 after purchasing an additional 88 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in Globe Life by 0.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 19,776 shares of the company’s stock valued at $2,605,000 after purchasing an additional 89 shares during the period. Venturi Wealth Management LLC boosted its holdings in Globe Life by 1.1% in the 1st quarter. Venturi Wealth Management LLC now owns 8,226 shares of the company’s stock valued at $1,084,000 after purchasing an additional 93 shares during the period. Finally, HighPoint Advisor Group LLC boosted its holdings in Globe Life by 4.2% in the 1st quarter. HighPoint Advisor Group LLC now owns 2,366 shares of the company’s stock valued at $293,000 after purchasing an additional 95 shares during the period. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Globe Life news, CEO Frank M. Svoboda sold 12,500 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer owned 32,747 shares in the company, valued at approximately $4,629,770.86. The trade was a 27.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 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 owned 49,842 shares in the company, valued at $6,758,076.78. The trade was a 40.03% decrease in their position. 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 ninety days. 1.51% of the stock is owned by insiders.

Globe Life Price Performance

Shares of NYSE:GL opened at $139.0540 on Thursday. The stock has a market cap of $11.26 billion, a PE ratio of 11.12 and a beta of 0.56. The company’s fifty day moving average is $128.00 and its 200 day moving average is $124.62. Globe Life Inc. has a 52 week low of $97.24 and a 52 week high of $144.00. 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 released 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 net margin of 18.11% and a return on equity of 21.24%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the company 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. Research analysts anticipate that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be given a $0.27 dividend. The ex-dividend date is Friday, October 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.8%. Globe Life’s payout ratio is presently 8.63%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GL shares. 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. Truist Financial assumed 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. Keefe, Bruyette & Woods lifted their target price on shares of Globe Life from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, July 28th. Morgan Stanley lifted their target price on shares of Globe Life from $166.00 to $171.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Cfra Research upgraded shares of Globe Life to a “moderate buy” rating in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $152.45.

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.