Cohen Klingenstein LLC Has $7.84 Million Stock Holdings in Globe Life Inc. $GL

Cohen Klingenstein LLC reduced its position in shares of Globe Life Inc. (NYSE:GL) by 12.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,089 shares of the company’s stock after selling 8,920 shares during the period. Cohen Klingenstein LLC owned approximately 0.08% of Globe Life worth $7,841,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc raised its holdings in shares of Globe Life by 60.0% during the 2nd quarter. AdvisorNet Financial Inc now owns 224 shares of the company’s stock worth $28,000 after buying an additional 84 shares in the last quarter. TD Private Client Wealth LLC acquired a new position in Globe Life during the second quarter worth about $39,000. SouthState Corp bought a new position in shares of Globe Life in the first quarter worth about $43,000. Ransom Advisory Ltd bought a new position in shares of Globe Life in the first quarter worth about $50,000. Finally, SVB Wealth LLC acquired a new stake in shares of Globe Life in the 1st quarter valued at approximately $63,000. 81.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. BMO Capital Markets reiterated a “market perform” rating and set a $149.00 price objective (up from $114.00) on shares of Globe Life in a research report on Wednesday, July 30th. Cfra Research upgraded shares of Globe Life to a “moderate buy” rating in a report on Friday, July 25th. JPMorgan Chase & Co. increased their price target on Globe Life from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Wells Fargo & Company raised their price objective on Globe Life from $144.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Finally, Morgan Stanley boosted their price objective on Globe Life from $166.00 to $171.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. One equities research 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.45.

Globe Life Trading Down 1.3%

GL opened at $141.13 on Thursday. Globe Life Inc. has a twelve month low of $100.27 and a twelve month high of $147.83. The company has a fifty day moving average of $140.37 and a 200-day moving average of $128.40. The stock has a market cap of $11.43 billion, a PE ratio of 11.28 and a beta of 0.55. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.43.

Globe Life (NYSE:GL) last issued 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. Globe Life had a net margin of 18.11% and a return on equity of 21.24%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the firm posted $2.97 earnings per share. The business’s quarterly revenue 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, sell-side analysts predict that Globe Life Inc. will post 13.87 EPS for the current year.

Globe Life Dividend Announcement

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 issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, October 3rd. Globe Life’s payout ratio is presently 8.63%.

Insiders Place Their Bets

In related news, CFO Thomas Peter Kalmbach sold 28,952 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer owned 30,665 shares in the company, valued at $4,322,845.05. The trade was a 48.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Matthew Darden sold 33,270 shares of the firm’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $135.59, for a total transaction of $4,511,079.30. Following the completion of the sale, the chief executive officer owned 49,842 shares of the company’s stock, valued at $6,758,076.78. The trade was a 40.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 84,722 shares of company stock valued at $11,733,793 in the last ninety days. 1.51% of the stock is owned by corporate insiders.

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.