Globe Life Inc. $GL Shares Bought by Pzena Investment Management LLC

Pzena Investment Management LLC grew its holdings in shares of Globe Life Inc. (NYSE:GL) by 0.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 945,983 shares of the company’s stock after acquiring an additional 5,103 shares during the period. Pzena Investment Management LLC’s holdings in Globe Life were worth $117,576,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of GL. Nuveen LLC acquired a new position in Globe Life in the first quarter worth about $131,608,000. Leith Wheeler Investment Counsel Ltd. grew its stake in Globe Life by 615.9% in the second quarter. Leith Wheeler Investment Counsel Ltd. now owns 656,807 shares of the company’s stock worth $81,635,000 after purchasing an additional 565,061 shares in the last quarter. Swedbank AB grew its stake in Globe Life by 77.0% in the first quarter. Swedbank AB now owns 832,000 shares of the company’s stock worth $109,591,000 after purchasing an additional 362,000 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Globe Life by 35.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,025,984 shares of the company’s stock worth $135,143,000 after purchasing an additional 271,253 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in Globe Life by 1,270.8% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 233,030 shares of the company’s stock worth $28,963,000 after purchasing an additional 216,030 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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. The trade was a 48.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO James Matthew Darden sold 33,270 shares of Globe Life 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 directly owned 49,842 shares in the company, valued at approximately $6,758,076.78. This trade represents a 40.03% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 84,722 shares of company stock worth $11,733,793. 1.97% of the stock is currently owned by corporate insiders.

Globe Life Stock Performance

GL opened at $135.71 on Monday. The business’s 50 day moving average is $140.22 and its 200-day moving average is $128.76. The stock has a market cap of $10.99 billion, a PE ratio of 10.85 and a beta of 0.55. 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 twelve month low of $100.27 and a twelve month high of $147.83.

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

Globe Life Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Morgan Stanley set a $179.00 price target on Globe Life and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods lifted their price target on Globe Life from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. BMO Capital Markets reiterated a “market perform” rating and issued a $149.00 price target (up from $114.00) on shares of Globe Life in a research note on Wednesday, July 30th. Cfra Research raised shares of Globe Life to a “moderate buy” rating in a report on Friday, July 25th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Globe Life in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $155.70.

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.