Globe Life Inc. $GL Stock Holdings Lowered by Canvas Wealth Advisors LLC

Canvas Wealth Advisors LLC reduced its holdings in Globe Life Inc. (NYSE:GL) by 21.6% during the second quarter, Holdings Channel reports. The firm owned 5,086 shares of the company’s stock after selling 1,400 shares during the period. Canvas Wealth Advisors LLC’s holdings in Globe Life were worth $682,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Global Assets Advisory LLC bought a new stake in shares of Globe Life in the 2nd quarter worth approximately $25,000. AdvisorNet Financial Inc raised its holdings in shares of Globe Life by 60.0% in the 2nd quarter. AdvisorNet Financial Inc now owns 224 shares of the company’s stock worth $28,000 after purchasing an additional 84 shares in the last quarter. TD Private Client Wealth LLC bought a new stake in shares of Globe Life in the 2nd quarter worth approximately $39,000. SouthState Corp bought a new stake in shares of Globe Life in the 1st quarter worth approximately $43,000. Finally, Ransom Advisory Ltd bought a new stake in shares of Globe Life in the 1st quarter worth approximately $50,000. 81.61% of the stock is currently owned by institutional investors.

Globe Life Stock Performance

Shares of GL opened at $134.78 on Monday. The company’s 50 day moving average price is $139.85 and its 200 day moving average price is $128.96. Globe Life Inc. has a 52 week low of $100.27 and a 52 week high of $147.83. The company has a market capitalization of $10.92 billion, a PE ratio of 10.77 and a beta of 0.55. 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 (NYSE:GL) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $3.27 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 the consensus estimate of $1.50 billion. During the same period in the previous year, the firm posted $2.97 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. Research analysts expect that Globe Life Inc. will post 13.87 EPS for the current fiscal year.

Globe Life Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently commented on GL. Weiss Ratings reiterated a “buy (b-)” rating on shares of Globe Life in a report on Wednesday, October 8th. Truist Financial initiated coverage on shares of Globe Life in a report on Tuesday, July 15th. They set 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 company an “outperform” rating in a report on Monday, July 28th. Wells Fargo & Company boosted their price target on shares of Globe Life from $150.00 to $172.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Globe Life from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.11.

Insider Activity at Globe Life

In other Globe Life news, 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 completion of the sale, the chief executive officer directly owned 49,842 shares of the company’s stock, valued at $6,758,076.78. The trade was a 40.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Frank M. Svoboda sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $141.38, for a total transaction of $1,767,250.00. Following the completion of the sale, the chief executive officer directly owned 32,747 shares of the company’s stock, valued at $4,629,770.86. This represents a 27.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,722 shares of company stock valued at $11,733,793. Company insiders own 1.97% 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.