Sagespring Wealth Partners LLC Buys 117 Shares of Globe Life Inc. $GL

Sagespring Wealth Partners LLC grew its stake in shares of Globe Life Inc. (NYSE:GL) by 6.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,942 shares of the company’s stock after purchasing an additional 117 shares during the period. Sagespring Wealth Partners LLC’s holdings in Globe Life were worth $241,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GL. Nuveen LLC bought a new stake in Globe Life during the 1st quarter worth approximately $131,608,000. Leith Wheeler Investment Counsel Ltd. increased its holdings in Globe Life by 615.9% during the 2nd 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 increased its holdings in Globe Life by 77.0% during the 1st 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. increased its holdings in Globe Life by 35.9% during the 1st 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 increased its holdings in Globe Life by 1,270.8% during the 2nd 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 owned by institutional investors.

Wall Street Analysts Forecast Growth

GL has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on Globe Life from $150.00 to $172.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $149.00 target price (up from $114.00) on shares of Globe Life in a report on Wednesday, July 30th. Keefe, Bruyette & Woods upped their target price on Globe Life from $145.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, July 28th. Cfra Research raised Globe Life to a “moderate buy” rating in a report on Friday, July 25th. Finally, Morgan Stanley set a $179.00 target price on Globe Life and gave the company an “overweight” rating in a report on Tuesday, October 7th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $152.11.

Insider Transactions at Globe Life

In related news, CEO James Matthew Darden sold 33,270 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $135.59, for a total value of $4,511,079.30. Following the transaction, the chief executive officer owned 49,842 shares in the company, valued at approximately $6,758,076.78. This represents a 40.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Clay Majors sold 10,000 shares of the stock in a transaction on 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 sale, the executive vice president owned 47,066 shares in the company, valued at approximately $6,467,339.06. This represents a 17.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 84,722 shares of company stock worth $11,733,793 in the last ninety days. Company insiders own 1.51% of the company’s stock.

Globe Life Price Performance

Globe Life stock opened at $134.78 on Friday. Globe Life Inc. has a 12 month low of $100.27 and a 12 month high of $147.83. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.43. The business’s 50 day simple moving average is $139.85 and its 200 day simple moving average is $128.95. The company has a market cap of $10.92 billion, a price-to-earnings ratio of 10.77 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 EPS for the quarter, beating the consensus estimate of $3.25 by $0.02. Globe Life had a return on equity of 21.24% and a net margin of 18.11%.The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the business earned $2.97 earnings per share. Globe Life’s revenue for the quarter was up 2.9% on a year-over-year basis. Globe Life has set its FY 2025 guidance at 14.250-14.650 EPS. Sell-side analysts forecast that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Dividend Announcement

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

About Globe Life

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.