RFG Advisory LLC Trims Stake in Globe Life Inc. $GL

RFG Advisory LLC trimmed its holdings in shares of Globe Life Inc. (NYSE:GL) by 13.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,881 shares of the company’s stock after selling 466 shares during the quarter. RFG Advisory LLC’s holdings in Globe Life were worth $358,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. grew its position in Globe Life by 9.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 21,739 shares of the company’s stock worth $2,702,000 after buying an additional 1,963 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in Globe Life by 13.7% during the second quarter. Sequoia Financial Advisors LLC now owns 27,488 shares of the company’s stock worth $3,416,000 after buying an additional 3,304 shares in the last quarter. Pzena Investment Management LLC grew its position in Globe Life by 0.5% during the second quarter. Pzena Investment Management LLC now owns 945,983 shares of the company’s stock worth $117,576,000 after buying an additional 5,103 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. lifted its stake in Globe Life by 615.9% during 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 during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Globe Life by 215.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 12,636 shares of the company’s stock worth $1,578,000 after purchasing an additional 8,626 shares during the last quarter. 81.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GL. JPMorgan Chase & Co. lifted their price target on Globe Life from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. 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. Wells Fargo & Company lifted their price target on Globe Life from $150.00 to $172.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. 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. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Globe Life in a research note on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Globe Life has an average rating of “Moderate Buy” and a consensus price target of $152.11.

Globe Life Trading Up 0.9%

NYSE GL opened at $134.78 on Friday. Globe Life Inc. has a 1-year low of $100.27 and a 1-year 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 stock has a 50-day moving average of $139.85 and a 200-day moving average of $128.95. The firm has a market cap of $10.92 billion, a PE ratio of 10.77 and a beta of 0.55.

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

Globe Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders 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 dividend payout ratio is presently 8.63%.

Insiders Place Their Bets

In other Globe Life news, EVP Michael Clay Majors sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $137.41, for a total transaction 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. This represents a 17.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Frank M. Svoboda sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $141.38, for a total value of $1,767,250.00. Following the transaction, the chief executive officer directly owned 32,747 shares of the company’s stock, valued at $4,629,770.86. The trade was a 27.63% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,722 shares of company stock worth $11,733,793. 1.51% of the stock is currently owned by company insiders.

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.