Redwood Investment Management LLC Has $3.72 Million Stake in Globe Life Inc. $GL

Redwood Investment Management LLC decreased its holdings in Globe Life Inc. (NYSE:GL) by 15.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 28,255 shares of the company’s stock after selling 5,038 shares during the period. Redwood Investment Management LLC’s holdings in Globe Life were worth $3,722,000 as of its most recent filing with the Securities & Exchange Commission.

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

Globe Life Price Performance

GL opened at $139.4310 on Tuesday. The firm has a market cap of $11.29 billion, a P/E ratio of 11.15 and a beta of 0.56. The firm has a 50-day moving average of $129.19 and a 200 day moving average of $125.03. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.06 and a current ratio of 0.06. Globe Life Inc. has a fifty-two week low of $99.04 and a fifty-two week high of $144.00.

Globe Life (NYSE:GL) last issued its earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share for the quarter, topping analysts’ consensus estimates of $3.25 by $0.02. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.50 billion. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business earned $2.97 earnings per share. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. On average, research analysts expect that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Announces Dividend

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

Insider Activity

In other news, CEO Frank M. Svoboda sold 12,500 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 32,747 shares in the company, valued at approximately $4,629,770.86. This trade represents 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, CFO Thomas Peter Kalmbach sold 28,952 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $140.97, for a total transaction of $4,081,363.44. Following the completion of the sale, the chief financial officer directly owned 30,665 shares in the company, valued at $4,322,845.05. This represents a 48.56% 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 valued at $11,733,793 over the last ninety days. 1.51% of the stock is owned by insiders.

Analysts Set New Price Targets

GL has been the topic of a number of research reports. Piper Sandler reduced their target price on shares of Globe Life from $152.00 to $147.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company boosted their price target on shares of Globe Life from $144.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. Truist Financial assumed coverage on shares of Globe Life in a research report on Tuesday, July 15th. They issued a “buy” rating and a $150.00 price target on the stock. Keefe, Bruyette & Woods boosted their price target 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. Finally, JPMorgan Chase & Co. boosted 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. One investment 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 company. According to MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and a consensus target price of $152.45.

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.