3,293 Shares in Globe Life Inc. $GL Bought by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC acquired a new stake in shares of Globe Life Inc. (NYSE:GL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,293 shares of the company’s stock, valued at approximately $409,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new stake in shares of Globe Life in the 1st quarter valued at about $131,608,000. GAMMA Investing LLC increased its holdings in Globe Life by 15,553.5% in the first quarter. GAMMA Investing LLC now owns 781,890 shares of the company’s stock valued at $102,991,000 after buying an additional 776,895 shares during the last quarter. Swedbank AB raised its stake in Globe Life by 77.0% during the first quarter. Swedbank AB now owns 832,000 shares of the company’s stock valued at $109,591,000 after buying an additional 362,000 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted 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 buying an additional 271,253 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted 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 buying an additional 216,030 shares during the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO James Matthew Darden sold 33,270 shares of Globe Life stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $135.59, for a total transaction of $4,511,079.30. Following the sale, the chief executive officer directly owned 49,842 shares in the company, valued at $6,758,076.78. The trade was a 40.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas Peter Kalmbach sold 28,952 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $140.97, for a total transaction of $4,081,363.44. Following the completion of the transaction, the chief financial officer owned 30,665 shares of the company’s stock, valued at $4,322,845.05. This represents a 48.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 84,722 shares of company stock worth $11,733,793 over the last 90 days. Insiders own 1.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GL. Keefe, Bruyette & Woods boosted their price target on Globe Life from $145.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, July 28th. BMO Capital Markets reiterated a “market perform” rating and set a $149.00 target price (up previously from $114.00) on shares of Globe Life in a research note on Wednesday, July 30th. Morgan Stanley raised their price target on shares of Globe Life from $166.00 to $171.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Cfra Research raised shares of Globe Life to a “moderate buy” rating in a report on Friday, July 25th. Finally, Wells Fargo & Company increased their price objective on shares of Globe Life from $144.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $152.45.

Globe Life Stock Up 0.8%

Globe Life stock opened at $146.42 on Wednesday. The firm has a market capitalization of $11.86 billion, a P/E ratio of 11.70 and a beta of 0.56. The company has a 50-day simple moving average of $137.84 and a 200-day simple moving average of $127.61. Globe Life Inc. has a one year low of $100.27 and a one year high of $147.83. 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 posted its earnings results on Wednesday, July 23rd. The company reported $3.27 earnings per share (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 during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business posted $2.97 EPS. Globe Life’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. As a group, equities analysts expect that Globe Life Inc. will post 13.87 earnings per share for the current year.

Globe Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.08 annualized dividend and a yield of 0.7%. Globe Life’s payout ratio is presently 8.63%.

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.