Wealth Enhancement Advisory Services LLC Purchases 10,272 Shares of Globe Life Inc. $GL

Wealth Enhancement Advisory Services LLC boosted its position in shares of Globe Life Inc. (NYSE:GL) by 45.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,071 shares of the company’s stock after buying an additional 10,272 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Globe Life were worth $4,008,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. SouthState Corp purchased a new position in shares of Globe Life in the first quarter valued at $43,000. Ransom Advisory Ltd bought a new position in Globe Life during the first quarter valued at $50,000. SVB Wealth LLC purchased a new position in shares of Globe Life in the 1st quarter worth $63,000. Allworth Financial LP increased its holdings in shares of Globe Life by 22.0% in the 1st quarter. Allworth Financial LP now owns 571 shares of the company’s stock worth $71,000 after buying an additional 103 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of Globe Life by 140.2% in the 1st quarter. Versant Capital Management Inc now owns 586 shares of the company’s stock worth $77,000 after buying an additional 342 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

Insider Buying and Selling at Globe Life

In other news, CFO Thomas Peter Kalmbach sold 28,952 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief financial officer directly owned 30,665 shares of the company’s stock, valued at approximately $4,322,845.05. The trade was a 48.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James Matthew Darden sold 33,270 shares of the firm’s stock in a transaction dated 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 directly owned 49,842 shares in the company, valued at approximately $6,758,076.78. The trade was a 40.03% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,722 shares of company stock worth $11,733,793. 1.51% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GL shares. Truist Financial started coverage on shares of Globe Life in a report on Tuesday, July 15th. They issued a “buy” rating and a $150.00 price target for the company. JPMorgan Chase & Co. raised their price objective on shares of Globe Life from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Wells Fargo & Company raised their price target on Globe Life from $144.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Morgan Stanley upped their price objective on Globe Life from $166.00 to $171.00 and gave the company an “overweight” rating in a research report on Monday, August 18th. Finally, Keefe, Bruyette & Woods lifted their target price on Globe Life from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, July 28th. One research 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $152.45.

Globe Life Price Performance

GL opened at $143.08 on Friday. The company has a market capitalization of $11.59 billion, a price-to-earnings ratio of 11.44 and a beta of 0.56. 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 business’s fifty day simple moving average is $138.73 and its 200-day simple moving average is $127.86.

Globe Life (NYSE:GL) last released its quarterly earnings data 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. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the firm earned $2.97 earnings per share. The firm’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 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 disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, October 3rd. Globe Life’s dividend payout ratio (DPR) is presently 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.