LRI Investments LLC Sells 166 Shares of Globe Life Inc. $GL

LRI Investments LLC cut its position in Globe Life Inc. (NYSE:GL) by 19.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 681 shares of the company’s stock after selling 166 shares during the quarter. LRI Investments LLC’s holdings in Globe Life were worth $85,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in GL. Global Assets Advisory LLC purchased a new position in shares of Globe Life in the second quarter valued at $25,000. AdvisorNet Financial Inc grew its position in shares of Globe Life by 60.0% in the second quarter. AdvisorNet Financial Inc now owns 224 shares of the company’s stock valued at $28,000 after purchasing an additional 84 shares in the last quarter. TD Private Client Wealth LLC purchased a new position in shares of Globe Life in the second quarter valued at $39,000. SouthState Corp purchased a new position in shares of Globe Life in the first quarter valued at $43,000. Finally, Ransom Advisory Ltd purchased a new position in shares of Globe Life in the first quarter valued at $50,000. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Globe Life

In other news, CEO Frank M. Svoboda sold 12,500 shares of the company’s stock in a transaction dated Thursday, July 31st. The stock was 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 represents a 27.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Clay Majors sold 10,000 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $137.41, for a total value of $1,374,100.00. Following the completion of the transaction, the executive vice president owned 47,066 shares of the company’s stock, valued at $6,467,339.06. The trade was a 17.52% 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 quarter. 1.97% of the stock is owned by company insiders.

Globe Life Price Performance

Globe Life stock opened at $136.37 on Tuesday. Globe Life Inc. has a 52 week low of $100.27 and a 52 week high of $147.83. The business has a 50-day simple moving average of $140.16 and a 200 day simple moving average of $128.81. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.43. The stock has a market cap of $11.05 billion, a price-to-earnings ratio of 10.90 and a beta of 0.55.

Globe Life (NYSE:GL) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $3.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.25 by $0.02. Globe Life had a return on equity of 21.24% and a net margin of 18.11%.The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the business earned $2.97 EPS. 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. On average, research analysts forecast that Globe Life Inc. will post 13.87 earnings per share for the current fiscal 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 issued 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 is presently 8.63%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wells Fargo & Company lifted their price target on Globe Life from $150.00 to $172.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Truist Financial initiated coverage on Globe Life in a research report on Tuesday, July 15th. They issued a “buy” rating and a $150.00 price target for the company. BMO Capital Markets restated a “market perform” rating and set a $149.00 target price (up from $114.00) on shares of Globe Life in a research report on Wednesday, July 30th. Morgan Stanley set a $179.00 target price on Globe Life and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods boosted 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 equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Globe Life currently has a consensus rating of “Moderate Buy” and a consensus 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.